LSR Loler Service Repair Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07167858 (England and Wales)

LSR LOLER SERVICE REPAIR LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L D Claypole

REGISTERED OFFICE:

Units D11-D12

Shawfield Road

Carlton Industrial Estate

Barnsley

South Yorkshire

S71 3HS

REGISTERED NUMBER:

07167858 (England and Wales)

FIXED ASSETS

Tangible assets

4

9,933

13,577

CURRENT ASSETS

Debtors

5

21,816

23,768

Cash at bank

4,421

18,767

26,237

42,535

CREDITORS

Amounts falling due within one year

6

12,982

25,343

NET CURRENT ASSETS

13,255

17,192

TOTAL ASSETS LESS CURRENT LIABILITIES

23,188

30,769

PROVISIONS FOR LIABILITIES

1,887

2,580

NET ASSETS

21,301

28,189

CAPITAL AND RESERVES

Called up share capital

50

100

Share premium

(3,850

)

-

Capital redemption reserve

50

-

Retained earnings

25,051

28,089

SHAREHOLDERS' FUNDS

21,301

28,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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 22 November 2022 and were signed by:

L D Claypole - Director

1.	STATUTORY INFORMATION

LSR Loler Service Repair 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Plant and machinery etc

-

50% on cost, 33% on cost, 25% on reducing balance, 15% on reducing balance and 10% 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2021

30,531

Additions

237

Disposals

(4,800

)

At 28 February 2022

25,968

DEPRECIATION

At 1 March 2021

16,954

Charge for year

3,027

Eliminated on disposal

(3,946

)

At 28 February 2022

16,035

NET BOOK VALUE

At 28 February 2022

9,933

At 28 February 2021

13,577

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

19,442

21,239

Other debtors

2,374

2,529

21,816

23,768

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

3,619

4,324

Taxation and social security

7,468

16,862

Other creditors

1,895

4,157

12,982

25,343