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LKD Paraplanning Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 November 2021

Registration number: 08100676

 

LKD Paraplanning Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

LKD Paraplanning Limited

Company Information

Director

Ms L K Darbyshire

Registered office

Ground Floor
Blackbrook Gate 1
Blackbrook Business Park
Taunton
TA1 2PX

Accountants

Francis Clark LLP
Ground Floor
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset
TA1 2PX

 

LKD Paraplanning Limited

Balance Sheet

30 November 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

6,646

5,624

Current assets

 

Debtors

5

46,773

131,321

Cash at bank and in hand

 

46,797

16,203

 

93,570

147,524

Creditors: Amounts falling due within one year

6

(29,774)

(74,910)

Net current assets

 

63,796

72,614

Total assets less current liabilities

 

70,442

78,238

Provisions for liabilities

(1,662)

(1,069)

Net assets

 

68,780

77,169

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

68,680

77,069

Shareholders' funds

 

68,780

77,169

 

LKD Paraplanning Limited

Balance Sheet

30 November 2021

For the financial year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 9 August 2022
 

.........................................
Ms L K Darbyshire
Director

   
     

Company Registration Number: 08100676

 

LKD Paraplanning Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor
Blackbrook Gate 1
Blackbrook Business Park
Taunton
TA1 2PX
England

The principal place of business is:
40 St James Buildings
St James Street
Taunton
Somerset
TA1 1JR
England

These financial statements were authorised for issue by the director on 9 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis. The director, having made all the necessary enquiries, is satisfied that the going concern basis of preparation is appropriate, In forming this opinion, and in particular, the director, who recognises there can be no certainty, has considered the performance of the company both during the year and subsequent to the year end, has given due consideration to the known and likely impacts of the current economic uncertainty and inflationary environment in the UK on the financial services sector, and has considered the company's abilities to meet its liabilities as they fall due.

Revenue recognition

Turnover comprises of amounts received in the period for services provided plus any accrued for services provided prior to the year end. Turnover is shown net of value added tax.

 

LKD Paraplanning Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2021

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance

Equipment

25% reducing balance

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

LKD Paraplanning Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2021

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

4

Tangible assets

Fixtures and fittings
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2020

2,301

14,239

16,540

Additions

2,470

529

2,999

At 30 November 2021

4,771

14,768

19,539

Depreciation

At 1 December 2020

1,170

9,746

10,916

Charge for the year

721

1,256

1,977

At 30 November 2021

1,891

11,002

12,893

Carrying amount

At 30 November 2021

2,880

3,766

6,646

At 30 November 2020

1,131

4,493

5,624

 

LKD Paraplanning Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2021

5

Debtors

2021
£

2020
£

Trade debtors

420

-

Other debtors

1,127

44,705

Prepayments

736

731

Accrued income

44,490

85,885

46,773

131,321

6

Creditors

2021
£

2020
 £

Due within one year

Trade creditors

-

1,353

Amounts due to group undertakings

1,542

43,138

Corporation tax

26,360

28,919

Accrued expenses

1,872

1,500

29,774

74,910

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary A shares of £1 each

34

34

34

34

Ordinary B shares of £1 each

33

33

33

33

Ordinary C shares of £1 each

33

33

33

33

 

100

100

100

100

 

LKD Paraplanning Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2021

8

Related party transactions

Advances to director

2021

At 1 December 2020
£

Advances to director
£

Repayments by director
£

At 30 November 2021
£

Director

Interest has been charged on loan balances greater than £10,000 at HMRC official rate of interest. The loan is repayable on demand.

(44,705)

(21,422)

65,000

(1,127)

         
         

 

2020

At 1 December 2019
£

Advances to director
£

Repayments by director
£

At 30 November 2020
£

Director

Interest has been charged on loan balances greater than £10,000 at HMRC official rate of interest. The loan is repayable on demand.

(783)

(45,999)

2,077

(44,705)