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Company Registration No. 07328347 (England and Wales)
LIMAR TRADING LTD Unaudited accounts for the year ended 31 July 2025
LIMAR TRADING LTD Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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LIMAR TRADING LTD Company Information for the year ended 31 July 2025
Director
Marius Liatukas
Company Number
07328347 (England and Wales)
Registered Office
2ND FLOOR, 6 OXFORD STREET BOLTON GREATER MANCHESTER BL1 1RF ENGLAND
Accountants
AY Accountants LLP 2nd floor, 6 Oxford street Bolton Greater Manchester BL1 1RF
- 3 -
LIMAR TRADING LTD Statement of financial position as at 31 July 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
199,172
41,110
Tangible assets
5
13,170
27,439
Investment property
6
440,000
440,000
652,342
508,549
Current assets
Inventories
1,139,962
1,152,834
Debtors
7
1,643,696
1,546,621
Cash at bank and in hand
57,593
22,935
2,841,251
2,722,390
Creditors: amounts falling due within one year
8
(2,251,291)
(2,137,662)
Net current assets
589,960
584,728
Total assets less current liabilities
1,242,302
1,093,277
Creditors: amounts falling due after more than one year
9
(17,153)
(24,956)
Provisions for liabilities
Deferred tax
(26,948)
(26,948)
Net assets
1,198,201
1,041,373
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,198,101
1,041,273
Shareholders' funds
1,198,201
1,041,373
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 April 2026 and were signed on its behalf by
Marius Liatukas Director Company Registration No. 07328347
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LIMAR TRADING LTD Notes to the Accounts for the year ended 31 July 2025
1
Statutory information
LIMAR TRADING LTD is a private company, limited by shares, registered in England and Wales, registration number 07328347. The registered office is 2ND FLOOR, 6 OXFORD STREET, BOLTON, GREATER MANCHESTER, BL1 1RF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on Cost Basis
Motor vehicles
Straight Line over 5 years
Computer equipment
25% on Cost Basis
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Deferred taxation
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.
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LIMAR TRADING LTD Notes to the Accounts for the year ended 31 July 2025
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation 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:
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. 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.
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.
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.
- 6 -
LIMAR TRADING LTD Notes to the Accounts for the year ended 31 July 2025
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.
4
Intangible fixed assets
Other
£
Cost
At 1 August 2024
41,110
Additions
158,062
At 31 July 2025
199,172
Amortisation
At 1 August 2024
-
At 31 July 2025
-
Net book value
At 31 July 2025
199,172
At 31 July 2024
41,110
- 7 -
LIMAR TRADING LTD Notes to the Accounts for the year ended 31 July 2025
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 August 2024
9,199
62,090
9,644
80,933
At 31 July 2025
9,199
62,090
9,644
80,933
Depreciation
At 1 August 2024
9,197
37,254
7,043
53,494
Charge for the year
-
12,418
1,851
14,269
At 31 July 2025
9,197
49,672
8,894
67,763
Net book value
At 31 July 2025
2
12,418
750
13,170
At 31 July 2024
2
24,836
2,601
27,439
6
Investment property
2025
£
Fair value at 1 August 2024
440,000
At 31 July 2025
440,000
The total investments held at 31 July 2025 were valued as at 31 July 2025 on an open market value basis by the directors of the company. The historic cost of those properties included in the valuation as at the year end is £385,875 (2024 - £385,875).
7
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
42,932
8,534
Other debtors
1,600,764
1,538,087
1,643,696
1,546,621
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
7,804
7,804
VAT
326,487
40,609
Trade creditors
1,064,312
1,305,550
Taxes and social security
67,907
47,302
Other creditors
808,071
735,581
Loans from directors
(23,290)
816
2,251,291
2,137,662
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
17,153
24,956
- 8 -
LIMAR TRADING LTD Notes to the Accounts for the year ended 31 July 2025
10
Average number of employees
During the year the average number of employees was 13 (2024: 13).
- 9 -