Liamas Limited 05715123 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is that of childcare services. Digita Accounts Production Advanced 6.30.9574.0 true 05715123 2022-03-01 2023-02-28 05715123 2023-02-28 05715123 bus:CompanySecretaryDirector1 1 2023-02-28 05715123 bus:Director2 1 2023-02-28 05715123 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-02-28 05715123 core:RetainedEarningsAccumulatedLosses 2023-02-28 05715123 core:ShareCapital 2023-02-28 05715123 core:CurrentFinancialInstruments 2023-02-28 05715123 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 05715123 core:FurnitureFittings 2023-02-28 05715123 core:LandBuildings core:ShortLeaseholdAssets 2023-02-28 05715123 core:PlantMachinery 2023-02-28 05715123 bus:SmallEntities 2022-03-01 2023-02-28 05715123 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 05715123 bus:FullAccounts 2022-03-01 2023-02-28 05715123 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 05715123 bus:RegisteredOffice 2022-03-01 2023-02-28 05715123 bus:CompanySecretaryDirector1 2022-03-01 2023-02-28 05715123 bus:CompanySecretaryDirector1 1 2022-03-01 2023-02-28 05715123 bus:Director2 2022-03-01 2023-02-28 05715123 bus:Director2 1 2022-03-01 2023-02-28 05715123 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 05715123 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-03-01 2023-02-28 05715123 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 05715123 bus:Agent1 2022-03-01 2023-02-28 05715123 core:FurnitureFittings 2022-03-01 2023-02-28 05715123 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 05715123 core:LandBuildings core:ShortLeaseholdAssets 2022-03-01 2023-02-28 05715123 core:LeaseholdImprovements 2022-03-01 2023-02-28 05715123 core:PlantMachinery 2022-03-01 2023-02-28 05715123 countries:AllCountries 2022-03-01 2023-02-28 05715123 2022-02-28 05715123 bus:CompanySecretaryDirector1 1 2022-02-28 05715123 bus:Director2 1 2022-02-28 05715123 core:FurnitureFittings 2022-02-28 05715123 core:LandBuildings core:ShortLeaseholdAssets 2022-02-28 05715123 core:PlantMachinery 2022-02-28 05715123 2021-03-01 2022-02-28 05715123 2022-02-28 05715123 bus:CompanySecretaryDirector1 1 2022-02-28 05715123 bus:Director2 1 2022-02-28 05715123 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-02-28 05715123 core:RetainedEarningsAccumulatedLosses 2022-02-28 05715123 core:ShareCapital 2022-02-28 05715123 core:CurrentFinancialInstruments 2022-02-28 05715123 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 05715123 core:FurnitureFittings 2022-02-28 05715123 core:LandBuildings core:ShortLeaseholdAssets 2022-02-28 05715123 core:PlantMachinery 2022-02-28 05715123 bus:CompanySecretaryDirector1 1 2021-03-01 2022-02-28 05715123 bus:Director2 1 2021-03-01 2022-02-28 05715123 bus:CompanySecretaryDirector1 1 2021-02-28 05715123 bus:Director2 1 2021-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05715123

Liamas Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Liamas Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Liamas Limited

Company Information

Directors

E L Wood

P M Rawlins

Company secretary

E L Wood

Registered office

C/o Bissell & Brown
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

Accountants

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Liamas Limited
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Liamas Limited for the year ended 28 February 2023 as set out on pages 3 to 8 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://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of Liamas Limited, as a body, in accordance with the terms of our engagement letter dated 10 August 2021. Our work has been undertaken solely to prepare for your approval the accounts of Liamas Limited and state those matters that we have agreed to state to the Board of Directors of Liamas Limited, 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/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-163-audit-
exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Liamas Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Liamas Limited 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 Liamas Limited. You consider that Liamas Limited 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 Liamas Limited. 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.

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

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ


20 October 2023

 

Liamas Limited

(Registration number: 05715123)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

6,913

5,766

Current assets

 

Debtors

6

20,714

22,189

Cash at bank and in hand

 

24,535

33,561

 

45,249

55,750

Creditors: Amounts falling due within one year

7

(47,562)

(58,275)

Net current liabilities

 

(2,313)

(2,525)

Net assets

 

4,600

3,241

Capital and reserves

 

Called up share capital

8

10

10

Profit and loss account

4,590

3,231

Total equity

 

4,600

3,241

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report or the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 October 2023 and signed on its behalf by:
 

.........................................
E L Wood
Company secretary and director

.........................................
P M Rawlins
Director

 
     
 

Liamas Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales. The company's registration number is 05715123.

The address of its registered office is:
C/o Bissell & Brown
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ
United Kingdom

The principal place of business is:
Brockhill Barn Day Nursery
Brockhill Court
Brockhill Lane
Redditch
Worcestershire
B97 6RB

These financial statements were authorised for issue by the Board on 18 October 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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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 sales/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.

 

Liamas Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

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.

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

Leasehold properties

Straight line over the life of the lease

Plant and equipment

25% reducing balance

Fixtures, fittings and equipment

25% reducing balance & 33.33% straight line

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Liamas Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

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.

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 (including directors) during the year was 19 (2022 - 18).

4

Profit before tax

Arrived at after charging/(crediting)

2023
 £

2022
 £

Depreciation expense

2,468

2,127

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2022

32,033

3,291

15,105

50,429

Additions

-

1,469

2,145

3,614

At 28 February 2023

32,033

4,760

17,250

54,043

Depreciation

At 1 March 2022

32,033

3,291

9,338

44,662

Charge for the year

-

486

1,982

2,468

At 28 February 2023

32,033

3,777

11,320

47,130

Carrying amount

At 28 February 2023

-

983

5,930

6,913

At 28 February 2022

-

-

5,766

5,766

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of short leasehold land and buildings.
 

 

Liamas Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

6

Debtors

2023
£

2022
£

Trade debtors

3,348

2,900

Other debtors

16,724

19,271

Prepayments

642

18

20,714

22,189

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

-

200

Taxation and social security

 

4,014

4,619

Other creditors

 

809

757

Accrued expenses

 

34,096

40,403

Corporation tax liability

 

8,643

12,296

 

47,562

58,275

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares share of £1 each

10

10

10

10

         

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
Holders of the ordinary share capital have a right to vote and receive dividends.

9

Related party transactions

Transactions with directors

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

E L Wood

10,540

16,831

(19,378)

7,993

         
       

P M Rawlins

8,731

14,700

(14,700)

8,731

         
       

 

 

Liamas Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

9

Related party transactions (continued)

2022

At 1 March 2021
£

Advances to director
£

Repayments by director
£

At 28 February 2022
£

E L Wood

5,035

21,805

(16,300)

10,540

         
       

P M Rawlins

4,831

20,200

(16,300)

8,731