LOC Limited
Registered number: 05550137
Unaudited Financial Statements
For The Year Ended
31 March 2023
Landsborough Accounting Services Ltd
ICPA
Abbots Cottage
Abbots Way
Guildford
Surrey
GU1 2XP
LOC Limited
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—5 |
Page 1
LOC Limited
Balance Sheet
As At
31 March 2023
Balance Sheet
Registered number:
05550137
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 4 |
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CURRENT ASSETS | |||||
Debtors | 5 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 6 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 8 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 113,857 | 107,973 | |||
Page 1
Page 2
LOC Limited
Balance Sheet (continued)
As At
31 March 2023
On behalf of the board
Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
LOC Limited
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
LOC Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
05550137
. The registered office is Horse Ghylls Wood Farm, Capel Road, Rusper, West Sussex, RH12 4PZ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold |
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Motor Vehicles |
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Fixtures & Fittings |
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Computer Equipment |
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2.4.
Government Grant
Government grants have been disclosed in the financial statement in line with the SSAP 4 disclosure requirements. Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 | 2022 | ||
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Office and administration |
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Page 3
Page 4
LOC Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
4.
Tangible Assets
Land & Property | |||||
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Freehold | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
£ | £ | £ | £ | £ | |
Cost | |||||
As at
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Additions |
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As at
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Depreciation | |||||
As at
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Provided during the period |
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As at
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Net Book Value | |||||
As at
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As at
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5.
Debtors
2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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6.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
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£ | £ | ||
Bank loans and overdrafts |
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VAT | - |
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Other creditors |
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Accruals within one year |
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Director's loan account |
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7.
Creditors: Amounts Falling Due After More Than One Year
2023 | 2022 | ||
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£ | £ | ||
Loan account Barclays |
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Other creditors |
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Government grants after one year |
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Page 4
Page 5
LOC Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
8.
Share Capital
2023 | 2022 | ||
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£ | £ | ||
Allotted, Called up and fully paid |
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9.
Dividends
2023 | 2022 | ||
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£ | £ | ||
On equity shares: | |||
Interim dividend paid |
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2,200 | 2,100 | ||
Page 5