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Registration number: 08932433

LRS Consulting Limited

Cessation Filleted Annual Report and Unaudited Abridged Financial Statements

for the Period from 1 April 2022 to 30 June 2023

 

LRS Consulting Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

LRS Consulting Limited

Company Information

Director

Mr L Smith

Registered office

Forgeside
Church Road
Pentyrch
Cardiff
CF15 9QF

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

LRS Consulting Limited

(Registration number: 08932433)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

174

8,900

Cash at bank and in hand

 

19,349

21,050

 

19,523

29,950

Creditors: Amounts falling due within one year

(14,464)

(10,489)

Total assets less current liabilities

 

5,059

19,461

Accruals and deferred income

 

(1,200)

(1,971)

Net assets

 

3,859

17,490

Capital and reserves

 

Called up share capital

5

2

2

Retained earnings

3,857

17,488

Shareholders' funds

 

3,859

17,490

 

LRS Consulting Limited

(Registration number: 08932433)
Abridged Balance Sheet as at 30 June 2023

For the financial period ending 30 June 2023 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 period in question in accordance with section 476; and

The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 August 2023
 

.........................................

Mr L Smith
Director

 

LRS Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2022 to 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Forgeside
Church Road
Pentyrch
Cardiff
CF15 9QF

These financial statements were authorised for issue by the director on 10 August 2023.

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 abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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 income 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.

 

LRS Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2022 to 30 June 2023

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

Furniture, fittings and equipment

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

LRS Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2022 to 30 June 2023

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

770

770

Disposals

(770)

(770)

At 30 June 2023

-

-

Depreciation

At 1 April 2022

770

770

Eliminated on disposal

(770)

(770)

At 30 June 2023

-

-

Carrying amount

At 30 June 2023

-

-

 

LRS Consulting Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2022 to 30 June 2023

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

6

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £2,000.00 (2022 - £3,000.00) per each Ordinary

 

4,000

 

6,000

         

7

Related party transactions

Key management personnel

Relationship: Director

Summary of transactions with key management

During the period the director made an unsecured, interest free, repayable on demand loan to the company. At the balance sheet date the amount due to the director was £14,464 (2022 - £10,080).
 

Summary of transactions with other related parties

Relationship: Common director and shareholder
 During the period LRS Consulting Limited provided consultancy services to the related party company totalling £18,000 (2022 - £8,900). At the balance sheet date the amount due from the related party company was £nil (2022 - £8,900).