Caseware UK (AP4) 2021.0.152 2021.0.152 2022-05-312022-05-31false2021-06-01No description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12588134 2021-06-01 2022-05-31 12588134 2020-05-06 2021-05-31 12588134 2022-05-31 12588134 2021-05-31 12588134 c:Director1 2021-06-01 2022-05-31 12588134 d:FurnitureFittings 2021-06-01 2022-05-31 12588134 d:FurnitureFittings 2022-05-31 12588134 d:FurnitureFittings 2021-05-31 12588134 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-06-01 2022-05-31 12588134 d:CurrentFinancialInstruments 2022-05-31 12588134 d:CurrentFinancialInstruments 2021-05-31 12588134 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 12588134 d:CurrentFinancialInstruments d:WithinOneYear 2021-05-31 12588134 d:ShareCapital 2022-05-31 12588134 d:ShareCapital 2021-05-31 12588134 d:RetainedEarningsAccumulatedLosses 2022-05-31 12588134 d:RetainedEarningsAccumulatedLosses 2021-05-31 12588134 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 12588134 d:AcceleratedTaxDepreciationDeferredTax 2021-05-31 12588134 d:TaxLossesCarry-forwardsDeferredTax 2022-05-31 12588134 d:TaxLossesCarry-forwardsDeferredTax 2021-05-31 12588134 c:FRS102 2021-06-01 2022-05-31 12588134 c:AuditExempt-NoAccountantsReport 2021-06-01 2022-05-31 12588134 c:FullAccounts 2021-06-01 2022-05-31 12588134 c:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure

Registered number: 12588134










LSA RETREATS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2022

 
LSA RETREATS LIMITED
REGISTERED NUMBER: 12588134

BALANCE SHEET
AS AT 31 MAY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,649
3,532

  
2,649
3,532

Current assets
  

Debtors: amounts falling due within one year
 5 
2,041
383

Cash at bank and in hand
 6 
4,184
2,056

  
6,225
2,439

Creditors: amounts falling due within one year
 7 
(6,048)
(5,292)

Net current assets/(liabilities)
  
 
 
177
 
 
(2,853)

Total assets less current liabilities
  
2,826
679

Provisions for liabilities
  

Deferred tax
 8 
(503)
(536)

  
 
 
(503)
 
 
(536)

Net assets
  
2,323
143


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,223
43

  
2,323
143


Page 1

 
LSA RETREATS LIMITED
REGISTERED NUMBER: 12588134

BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 September 2022.




J A Willsmer
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LSA RETREATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
LSA RETREATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1.Accounting policies (continued)

 
1.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
1.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
LSA RETREATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1.Accounting policies (continued)

 
1.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
1.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
1.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

LSA Retreats Limited is a private limited company incorporated in England and Wales. The Registered Office is 601 London Road, Westcliff on Sea, Essex, SS0 9PE.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Page 5

 
LSA RETREATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 June 2021
4,709



At 31 May 2022

4,709



Depreciation


At 1 June 2021
1,177


Charge for the year on owned assets
883



At 31 May 2022

2,060



Net book value



At 31 May 2022
2,649



At 31 May 2021
3,532


5.


Debtors

2022
2021
£
£


Trade debtors
932
383

Prepayments and accrued income
1,109
-

2,041
383



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
4,184
2,056

4,184
2,056


Page 6

 
LSA RETREATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
1,418
1,201

Corporation tax
543
-

Other creditors
4,087
4,091

6,048
5,292



8.


Deferred taxation




2022


£






At beginning of year
(536)


Charged to profit or loss
33



At end of year
(503)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(503)
(671)

Tax losses carried forward
-
135

(503)
(536)


9.


Related party transactions

During the year, dividends of £Nil (2021 : £2,000) were paid to J A Willsmer, the director of the company.


Page 7