0 false false false false false false false false false true false false false false false false No description of principal activity 2021-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,310 967 69 1,036 274 343 xbrli:pure xbrli:shares iso4217:GBP 6775853 2021-01-01 2021-12-31 6775853 2021-12-31 6775853 2020-12-31 6775853 2020-12-31 6775853 bus:Director1 2021-01-01 2021-12-31 6775853 core:WithinOneYear 2021-12-31 6775853 core:WithinOneYear 2020-12-31 6775853 core:ShareCapital 2021-12-31 6775853 core:ShareCapital 2020-12-31 6775853 core:RetainedEarningsAccumulatedLosses 2021-12-31 6775853 core:RetainedEarningsAccumulatedLosses 2020-12-31 6775853 bus:Director1 2020-12-31 6775853 bus:Director1 2021-12-31 6775853 bus:Director1 2019-12-31 6775853 bus:Director1 2020-12-31 6775853 bus:Director1 2020-01-01 2020-12-31 6775853 bus:SmallEntities 2021-01-01 2021-12-31 6775853 bus:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 6775853 bus:FullAccounts 2021-01-01 2021-12-31 6775853 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 6775853 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 6775853 core:OfficeEquipment 2021-01-01 2021-12-31 6775853 core:OfficeEquipment 2021-12-31 6775853 core:OfficeEquipment 2020-12-31
COMPANY REGISTRATION NUMBER: 6775853
L.P UK Plant Sales Limited
Filleted Unaudited Financial Statements
31 December 2021
L.P UK Plant Sales Limited
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
£
Fixed assets
Tangible assets
4
274
343
Current assets
Stocks
40,000
40,000
Debtors
5
533
546
Cash at bank and in hand
58,406
86,664
--------
---------
98,939
127,210
Creditors: amounts falling due within one year
6
109,230
135,830
---------
---------
Net current liabilities
10,291
8,620
--------
-------
Total assets less current liabilities
( 10,017)
( 8,277)
--------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 10,018)
( 8,278)
--------
-------
Shareholders deficit
( 10,017)
( 8,277)
--------
-------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
L.P UK Plant Sales Limited
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 8 September 2022 , and are signed on behalf of the board by:
MR N MENDES
Director
Company registration number: 6775853
L.P UK Plant Sales Limited
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 The Quadrant, Coventry, CV1 2EL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 January 2021 and 31 December 2021
1,310
1,310
-------
-------
Depreciation
At 1 January 2021
967
967
Charge for the year
69
69
-------
-------
At 31 December 2021
1,036
1,036
-------
-------
Carrying amount
At 31 December 2021
274
274
-------
-------
At 31 December 2020
343
343
-------
-------
5. Debtors
2021
2020
£
£
Trade debtors
337
337
Other debtors
196
209
----
----
533
546
----
----
6. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
40,000
40,000
Other creditors
69,230
95,830
---------
---------
109,230
135,830
---------
---------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
MR N MENDES
29,779
( 26,600)
3,179
--------
--------
-------
2020
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
MR N MENDES
68,778
( 38,999)
29,779
--------
--------
--------
8. Related party transactions
The company was under the control of Mr Mendes throughout the current and previous year. Mr Mendesis the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.