Legume Technology Limited - Accounts to registrar (filleted) - small 23.2.5
Legume Technology Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2023 |
| for |
| Legume Technology Limited |
| Legume Technology Limited (Registered number: 04140709) |
| Contents of the Financial Statements |
| for the year ended 31 December 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Legume Technology Limited |
| Company Information |
| for the year ended 31 December 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Cawley House |
| 149-155 Canal Street |
| Nottingham |
| Nottinghamshire |
| NG1 7HR |
| Legume Technology Limited (Registered number: 04140709) |
| Balance Sheet |
| 31 December 2023 |
| 31/12/23 | 31/12/22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Share premium |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Legume Technology Limited (Registered number: 04140709) |
| Balance Sheet - continued |
| 31 December 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Legume Technology Limited (Registered number: 04140709) |
| Notes to the Financial Statements |
| for the year ended 31 December 2023 |
| 1. | STATUTORY INFORMATION |
| Legume Technology Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue on contracts is valued on a contract by contract basis. When the outcome of a contract can be estimated reliably contract revenue and costs are recognised by reference to the degree of completion of each contract as measured by the proportion of total costs at the balance sheet date to the estimated total cost of the contract. When the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred, where it is probable these costs will be recovered. |
| When it is probable that the total contract costs will exceed total contract revenue, the expected loss is recognised immediately. Contract costs are recognised as an expense in the period in which they are incurred. |
| Where costs incurred plus recognised profits less recognised losses exceed progress billings, the balance is shown as amounts recoverable on contracts within debtors. Where progress billings exceed costs incurred plus recognised profits less recognised losses, the balance is shown as payments on account within creditors. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Long leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Legume Technology Limited (Registered number: 04140709) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Legume Technology Limited (Registered number: 04140709) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2023 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 January 2023 |
| Additions |
| At 31 December 2023 |
| AMORTISATION |
| At 1 January 2023 |
| Charge for year |
| At 31 December 2023 |
| NET BOOK VALUE |
| At 31 December 2023 |
| At 31 December 2022 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Computer |
| leasehold | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2023 |
| Additions |
| At 31 December 2023 |
| DEPRECIATION |
| At 1 January 2023 |
| Charge for year |
| At 31 December 2023 |
| NET BOOK VALUE |
| At 31 December 2023 |
| At 31 December 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/23 | 31/12/22 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| Legume Technology Limited (Registered number: 04140709) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/23 | 31/12/22 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/12/23 | 31/12/22 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 9) |
| Amounts owed to group undertakings |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 31/12/23 | 31/12/22 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable | operating leases |
| 31/12/23 | 31/12/22 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| A floating charge is held with Santander UK plc over all other assets. The charges were created on 16th January 2019. |
| Legume Technology Limited (Registered number: 04140709) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2023 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/12/23 | 31/12/22 |
| value: | £ | £ |
| Ordinary | £1 | 1,635 | 1,635 |