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REGISTERED NUMBER: 08958695 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

LAPCO CONSULTANCY LTD

LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAPCO CONSULTANCY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: T D Cecil
M G Coleman





SECRETARY: E A Sinclair





REGISTERED OFFICE: 3 The Courtyard
Shapwick
Bridgwater
Somerset
TA7 9LQ





REGISTERED NUMBER: 08958695 (England and Wales)





ACCOUNTANTS: LK Davies Limited
3 The Courtyard
Shapwick
Bridgwater
Somerset
TA7 9LQ

LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,795 4,528

CURRENT ASSETS
Debtors 5 39,807 31,257
Cash at bank 46,494 47,107
86,301 78,364
CREDITORS
Amounts falling due within one year 6 44,373 28,029
NET CURRENT ASSETS 41,928 50,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,723

54,863

CREDITORS
Amounts falling due after more than one year 7 11,295 15,797
NET ASSETS 35,428 39,066

CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 6,107 5,208
Retained earnings 29,319 33,856
35,428 39,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)

BALANCE SHEET - continued
31 JANUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





T D Cecil - Director


LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Lapco Consultancy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Training & Consultancy

Revenue is recognised when training service is delivered or by reference to the stage of completion at the end of a accounting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest.

Other reserves
The company maintains a share option reserve.

LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued

Costs
Software development costs

Qualify for capitalisation when can demonstrate:
technical feasibility of completing the development so that a first version (V1) will be available to use or licence
intention to complete the development of V1 so available to use or licence
ability to use or licence the intangible
how the intangible asset will generate probable future economic benefits
existence of a market for the intangible asset
availability of adequate technical, financial and other resources to complete the development
ability to measure reliably the expenditure attributable to the development of the intangible asset.

Commercial viability of new products is not proven until all high risk development issues are resolved through testing and resolution of prelaunch versions. This occurs just before software service is made available for . licence. Accordingly development costs are not capitalised.

Expenditure incurred to enhance a software service after general release is expensed to profit and loss account as incurred and included in research and development costs in the profit and loss account.

Consultancy

Costs incurred that are directly attributable to enhancements provided to customers are included in cost of sales consultancy.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 6,748
Additions 2,250
Disposals (1,027 )
At 31 January 2023 7,971
DEPRECIATION
At 1 February 2022 2,220
Charge for year 1,351
Eliminated on disposal (395 )
At 31 January 2023 3,176
NET BOOK VALUE
At 31 January 2023 4,795
At 31 January 2022 4,528

LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 32,500 25,910
Other debtors 7,307 5,347
39,807 31,257

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,503 4,502
Trade creditors 3,000 2,564
Taxation and social security 391 677
Other creditors 36,479 20,286
44,373 28,029

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 11,295 15,797

8. SHARE-BASED PAYMENT TRANSACTIONS

During the year ended 31 January 2021 the company established a EMI Share Option Scheme and granted options over 7,778 D ordinary shares. The options vest over a four year period based on the performance target achievement. At the end of the financial year options over 5,832 shares were exercisable.