Licensed Support Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07725385 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2022 TO 31 MARCH 2023

FOR

LICENSED SUPPORT SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A D Merricks

REGISTERED OFFICE:

450 The Grange

Romsey Road

Michelmersh

Romsey

SO51 0AE

REGISTERED NUMBER:

07725385 (England and Wales)

ACCOUNTANTS:

Romsey Accountants GDT Limited

Unit 3, Shelley Farm

Shelley Lane

Ower

Romsey

Hampshire

SO51 6AS

FIXED ASSETS

Tangible assets

4

30,286

2,312

CURRENT ASSETS

Debtors

5

258,905

256,762

Cash at bank

339,401

490,454

598,306

747,216

CREDITORS

Amounts falling due within one year

6

86,362

310,998

NET CURRENT ASSETS

511,944

436,218

TOTAL ASSETS LESS CURRENT LIABILITIES

542,230

438,530

CREDITORS

Amounts falling due after more than one year

7

-

(41,526

)

PROVISIONS FOR LIABILITIES

(5,754

)

(439

)

NET ASSETS

536,476

396,565

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

536,475

396,564

536,476

396,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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 17 March 2024 and were signed by:

A D Merricks - Director

1.	STATUTORY INFORMATION

Licensed Support Services Limited 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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the period 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 period 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.

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 period was 4 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 June 2022

4,827

2,380

7,207

Additions

39,950

495

40,445

At 31 March 2023

44,777

2,875

47,652

DEPRECIATION

At 1 June 2022

2,974

1,921

4,895

Charge for period

12,193

278

12,471

At 31 March 2023

15,167

2,199

17,366

NET BOOK VALUE

At 31 March 2023

29,610

676

30,286

At 31 May 2022

1,853

459

2,312

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.5.22

£

£

Trade debtors

58,687

168,420

Other debtors

126,073

88,342

Directors' current accounts

23,489

-

VAT

9,726

-

Prepayments and accrued income

40,930

-

258,905

256,762

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.5.22

£

£

Trade creditors

7,127

41,768

Corporation tax

38,417

81,002

Social security and other taxes

929

1,599

VAT

-

5,818

Other creditors

38,339

179,286

Accrued expenses

1,550

1,525

86,362

310,998

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.5.22

£

£

Bank loans - 2-5 years

-

41,526

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 31 March 2023 and 31 May 2022:

31.3.23

31.5.22

£

£

A D Merricks

Balance outstanding at start of period

-

70,000

Amounts advanced

66,948

65,000

Amounts repaid

(43,459

)

(135,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

23,489

-