REGISTERED NUMBER: 11804622 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2025

for

LIBTEK LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A D Winters

REGISTERED OFFICE:

27 Burleigh Way

Cuffley

Potters Bar

EN6 4LG

REGISTERED NUMBER:

11804622 (England and Wales)

ACCOUNTANTS:

K J Pittalis and Partners LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

FIXED ASSETS

Tangible assets

5

55,011

39,821

CURRENT ASSETS

Debtors

6

230,935

125,235

Cash at bank

14,944

66,811

245,879

192,046

CREDITORS

Amounts falling due within one year

7

(119,591

)

(118,560

)

NET CURRENT ASSETS

126,288

73,486

TOTAL ASSETS LESS CURRENT LIABILITIES

181,299

113,307

CREDITORS

Amounts falling due after more than one year

8

(180,756

)

(112,787

)

NET ASSETS

543

520

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

443

420

543

520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 November 2025 and were signed by:

A D Winters - Director

1.	STATUTORY INFORMATION

Libtek Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over 50 years

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contacts and finance leases are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payments is charged to the profit and loss account so as to produce a constant periodic rate charge on the net obligation outstanding in each period.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 March 2024

18,076

5,912

20,230

44,218

Additions

-

4,319

23,307

27,626

At 28 February 2025

18,076

10,231

43,537

71,844

DEPRECIATION

At 1 March 2024

-

4,397

-

4,397

Charge for year

362

1,190

10,884

12,436

At 28 February 2025

362

5,587

10,884

16,833

NET BOOK VALUE

At 28 February 2025

17,714

4,644

32,653

55,011

At 29 February 2024

18,076

1,515

20,230

39,821

Included in above are assets on hire purchase with a net book value of £32,653 (2024: £20,230).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/25

29/2/24

£

£

Trade debtors

25,964

1,610

Other debtors

204,971

123,625

230,935

125,235

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/25

29/2/24

£

£

Bank loans and overdrafts

27,449

19,345

Hire purchase contracts

8,981

4,323

Trade creditors

15,286

-

Taxation and social security

53,148

84,398

Other creditors

14,727

10,494

119,591

118,560

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28/2/25

29/2/24

£

£

Bank loans

153,793

96,681

Hire purchase contracts

26,963

16,106

180,756

112,787

28/2/25

29/2/24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instalments

43,997

17,500

Assets held on hire purchase are secured on the assets financed.

The above loan is guaranteed by the UK Government under BBLS (the BBLS Guarantee) . There are no capital or interest repayments for the first 12 months after the date of draw down after which the total amount payable must be repaid by way of 60 consecutive monthly repayments (consisting of capital and interest). Interest is charged at a rate of 2.5% on the outstanding principle amount.

Other bank loans have been guaranteed personally by the director.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date the director's account was overdrawn by £153,249 (2024: £100,000).

The above loan is unsecured and carries an interest rate of 2.25%.