Registered number
04044725
Lall Limited
Filleted Accounts
28 February 2023
Lall Limited
Registered number: 04044725
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 940 695
Current assets
Debtors 5 - 35,305
Cash at bank and in hand 171,138 27,376
171,138 62,681
Creditors: amounts falling due within one year 6 (104,041) (34,731)
Net current assets 67,097 27,950
Net assets 68,037 28,645
Capital and reserves
Called up share capital 2 2
Profit and loss account 68,035 28,643
Shareholders' funds 68,037 28,645
The directors are 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 directors acknowledge their 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.
Parminder Singh Lall
Director
Approved by the board on 14 June 2023
Lall Limited
Notes to the Accounts
for the year ended 28 February 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:
Vehicles 25% Reducing Balance Method
Fixtures, fittings, tools and equipment 25% Reducing Balance Method
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2022 15,000
At 28 February 2023 15,000
Amortisation
At 1 March 2022 15,000
At 28 February 2023 15,000
Net book value
At 28 February 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 2,936 4,500 7,436
Additions 503 - 503
At 28 February 2023 3,439 4,500 7,939
Depreciation
At 1 March 2022 2,841 3,900 6,741
Charge for the year 108 150 258
At 28 February 2023 2,949 4,050 6,999
Net book value
At 28 February 2023 490 450 940
At 28 February 2022 95 600 695
5 Debtors 2023 2022
£ £
Trade debtors - 35,305
6 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 3,962 403
Taxation and social security costs 79,055 15,505
Other creditors 21,024 18,823
104,041 34,731
7 Other information
Lall Limited is a private company limited by shares and incorporated in England. Its registered office is:
36 Beaumont Drive
Northfleet
Kent
England
DA11 9NW
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