Registered number
03340166
Larry Park Limited
Filleted Accounts
31 March 2023
Larry Park Limited
Registered number: 03340166
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 347 463
Current assets
Debtors 4 2,303 3,654
Cash at bank and in hand 13,069 43,034
15,372 46,688
Creditors: amounts falling due within one year 5 (14,766) (29,458)
Net current assets 606 17,230
Total assets less current liabilities 953 17,693
Creditors: amounts falling due after more than one year 6 (455) (1,142)
Net assets 498 16,551
Capital and reserves
Called up share capital 2 2
Profit and loss account 496 16,549
Shareholders' funds 498 16,551
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L P Park
Director
Approved by the board on 27 October 2023
Larry Park Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery at 25% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 3,435
At 31 March 2023 3,435
Depreciation
At 1 April 2022 2,972
Charge for the year 116
At 31 March 2023 3,088
Net book value
At 31 March 2023 347
At 31 March 2022 463
4 Debtors 2023 2022
£ £
Trade debtors 2,303 3,654
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,315 8,510
Trade creditors 1,191 152
Taxation and social security costs 6,435 20,547
Other creditors 825 249
14,766 29,458
6 Creditors: amounts falling due after one year 2023 2022
£ £
Trade creditors 455 1,142
7 Other information
Larry Park Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
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