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Registered Number: 12810574
England and Wales

 

 

 


Unaudited Financial Statements

for the period ended 31 August 2021

for

LPS MEDICAL SUPPLIES LTD

Directors Mr M R Pain
Mr J F Ricketts
Registered Number 12810574
Registered Office Unit 2, The Purlieu Centre Hardley Industrial Esta
Hardley
Southampton
Hampshire
SO45 3AE
Accountants Numeric Accounting Limited
Chartered Certified Accountants
Suite 1, The Portway Centre,
Old Sarum Park,
Old Sarum
SP4 6EB
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 August 2021
Principal activities
The companys principal activity during the year was the manufacture of workwear.
Directors
The directors who served the company throughout the period were as follows:
Mr M R Pain
Mr J F Ricketts
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr J F Ricketts
Director

Date approved: 12 August 2022
2
Report to the directors on the preparation of the unaudited statutory accounts of LPS Medical Supplies Ltd for the year ended 31 August 2021.


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LPS Medical Supplies Ltd for the year ended 31 August 2021 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/.

This report is made solely to the Board of Directors of LPS Medical Supplies Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of LPS Medical Supplies Ltd and state those matters that we have agreed to state to the Board of Directors of LPS Medical Supplies Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LPS Medical Supplies Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that LPS Medical Supplies Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of LPS Medical Supplies Ltd. You consider that LPS Medical Supplies Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of LPS Medical Supplies Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 31 August 2021.



....................................................
Numeric Accounting Limited
Chartered Certified Accountants
Suite 1, The Portway Centre,
Old Sarum Park,
Old Sarum
SP4 6EB
12 August 2022
3
 
 
Notes
 
2021
£
Fixed assets    
Tangible fixed assets 3 3,174 
3,174 
Current assets    
Stocks 4 4,230 
Debtors: amounts falling due within one year 5 31,180 
Cash at bank and in hand 100,093 
135,503 
Creditors: amount falling due within one year 6 (59,724)
Net current assets 75,779 
 
Total assets less current liabilities 78,953 
Net assets 78,953 
 

Capital and reserves
   
Called up share capital 7 100 
Profit and loss account 78,853 
Shareholder's funds 78,953 
 


For the period ended 31 August 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 12 August 2022 and were signed on its behalf by:


--------------------------------
Mr J F Ricketts
Director
--------------------------------
Mr M R Pain
Director
4
  Equity share capital   Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £ £
At 13 August 2020
Profit for the period 204,853  204,853 
Total comprehensive income for the period 204,853  204,853 
Dividends (126,000) (126,000)
Shares issued 100  100 
Total investments by and distributions to owners 100  (126,000) (125,900)
At 31 August 2021 100  78,853  78,953 
5
General Information
LPS Medical Supplies Ltd is a private company, limited by shares, registered in England and Wales, registration number 12810574, registration address Unit 2, The Purlieu Centre Hardley Industrial Esta, Hardley, Southampton, Hampshire, SO45 3AE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Reducing Balance
Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Financial instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.
2.

Average number of employees

Average number of employees during the period was 2.
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 13 August 2020  
Additions 4,475    4,475 
Disposals  
At 31 August 2021 4,475    4,475 
Depreciation
At 13 August 2020  
Charge for period 1,301    1,301 
On disposals  
At 31 August 2021 1,301    1,301 
Net book values
Closing balance as at 31 August 2021 3,174    3,174 
Opening balance as at 13 August 2020  


4.

Stocks

2021
£
Stocks 4,230 
4,230 

5.

Debtors: amounts falling due within one year

2021
£
Trade Debtors 16,462 
Ass Company Loan 14,718 
31,180 

6.

Creditors: amount falling due within one year

2021
£
Corporation Tax 47,308 
Directors' Current Accounts 900 
VAT 11,516 
59,724 

7.

Share Capital

Allotted, called up and fully paid
2021
£
100 Ordinary shares of £1.00 each 100 
100 

8.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2021
£
2021
£
Mr M R Pain(450)
Mr J F Ricketts(450)

The loan is interest free with no fixed date of repayment.
9.

Dividend

During the year, total dividend of £126,000 were paid to directors.
6