Company registration number SC388445 (Scotland)
Labron Technical Limited
unaudited financial statements
for the period ended 31 March 2025
Pages for filing with registrar
Labron Technical Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
Labron Technical Limited
Balance sheet
as at 31 March 2025
31 March 2025
- 1 -
31 March 2025
31 December 2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
173,049
188,379
Investments
5
28,000
28,000
201,049
216,379
Current assets
Stocks
46,337
861,067
Debtors
6
1,103,095
1,537,219
Cash at bank and in hand
807,897
290,089
1,957,329
2,688,375
Creditors: amounts falling due within one year
7
(1,702,008)
(2,205,946)
Net current assets
255,321
482,429
Total assets less current liabilities
456,370
698,808
Provisions for liabilities
(33,648)
-
0
Net assets
422,722
698,808
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
8
422,622
698,708
Total equity
422,722
698,808

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Labron Technical Limited
Balance sheet (continued)
as at 31 March 2025
31 March 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 October 2025 and are signed on its behalf by:
Mr L Nicholson
Director
Company registration number SC388445 (Scotland)
Labron Technical Limited
Notes to the financial statements
for the period ended 31 March 2025
- 3 -
1
Accounting policies
Company information

Labron Technical Limited is a private company limited by shares incorporated in Scotland. The registered office is Unit 9 Hamilton Road Industrial Estate, Strathaven, South Lanarkshire, United Kingdom, ML10 6UB.

1.1
Reporting period

T he annual financial statements are presented for a 15 month period, following a change of the period end date from 31 December 2024 to 31 March 2025. This is to bring the period end date in line with other group entities. The comparative amounts presented in the financial statements (including the related notes) are therefore not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The accounts have been prepared on a going concern basis which assumes the company will continue to trade. The validity of this assumption is based upon the continued support of the directors. If the company was unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets. true

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Labron Technical Limited
Notes to the financial statements (continued)
for the period ended 31 March 2025
1
Accounting policies (continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% reducing balance
Computers
20% reducing balance
Motor vehicles
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Labron Technical Limited
Notes to the financial statements (continued)
for the period ended 31 March 2025
1
Accounting policies (continued)
- 5 -
1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Labron Technical Limited
Notes to the financial statements (continued)
for the period ended 31 March 2025
1
Accounting policies (continued)
- 6 -
1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Labron Technical Limited
Notes to the financial statements (continued)
for the period ended 31 March 2025
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2023
Number
Number
Total
7
6
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
2,500
26,318
259,960
288,778
Additions
1,908
12,373
48,333
62,614
Disposals
-
0
(26,318)
(11,459)
(37,777)
At 31 March 2025
4,408
12,373
296,834
313,615
Depreciation and impairment
At 1 January 2024
1,845
15,575
82,979
100,399
Depreciation charged in the period
641
3,118
62,246
66,005
Eliminated in respect of disposals
-
0
(15,600)
(10,238)
(25,838)
At 31 March 2025
2,486
3,093
134,987
140,566
Carrying amount
At 31 March 2025
1,922
9,280
161,847
173,049
At 31 December 2023
655
10,743
176,981
188,379
Labron Technical Limited
Notes to the financial statements (continued)
for the period ended 31 March 2025
- 8 -
5
Fixed asset investments
2025
2023
£
£
Other investments other than loans
28,000
28,000
6
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
469,609
933,238
Other debtors
633,486
603,981
1,103,095
1,537,219
7
Creditors: amounts falling due within one year
2025
2023
£
£
Trade creditors
323,114
418,519
Corporation tax
6,223
19,879
Other taxation and social security
2,460
165,854
Other creditors
1,370,211
1,601,694
1,702,008
2,205,946
8
Profit and loss reserves

Profit and loss reserves include all current and prior years retained profit and losses.

9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2023
£
£
15,867
-
Labron Technical Limited
Notes to the financial statements (continued)
for the period ended 31 March 2025
- 9 -
10
Related party transactions
Transactions with related parties

During the period the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2025
2023
Amounts due from related parties
£
£
Other related parties
597,060
568,255
This is included in Other debtors
11
Directors' transactions

Dividends totalling £630,000 (2023 - £633,383) were paid in the year in respect of shares held by the company's directors.

Labron Technical Limited
Notes to the financial statements (continued)
for the period ended 31 March 2025
- 10 -
12
Prior period adjustment

The prior period adjustments arose as a result of errors identified in the accounting treatment of work in progress and progress payments.

Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Dec 2023
£
£
£
Current assets
Stocks
-
861,067
861,067
Debtors due within one year
990,148
547,071
1,537,219
Bank and cash
289,551
538
290,089
Creditors due within one year
Loans and overdrafts
538
(538)
-
0
Taxation
(312,307)
126,574
(185,733)
Other creditors
(1,515)
(2,018,698)
(2,020,213)
Net assets
1,182,794
(483,986)
698,808
Capital and reserves
Profit and loss reserves
1,182,694
(483,986)
698,708
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 31 December 2023
£
£
£
Turnover
2,998,241
(822,481)
2,175,760
Cost of sales
(2,018,675)
211,921
(1,806,754)
Administrative expenses
(307,249)
1
(307,248)
Taxation
(144,491)
126,573
(17,918)
Profit for the financial period
527,826
(483,986)
43,840
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