1 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-06-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 12633084 2022-06-01 2023-03-31 12633084 2023-03-31 12633084 2022-05-31 12633084 2021-06-01 2022-05-31 12633084 2022-05-31 12633084 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-03-31 12633084 bus:OrdinaryShareClass1 2022-06-01 2023-03-31 12633084 bus:Director1 2022-06-01 2023-03-31 12633084 core:FurnitureFittingsToolsEquipment 2022-05-31 12633084 core:FurnitureFittingsToolsEquipment 2023-03-31 12633084 core:WithinOneYear 2023-03-31 12633084 core:WithinOneYear 2022-05-31 12633084 core:ShareCapital 2023-03-31 12633084 core:ShareCapital 2022-05-31 12633084 core:RetainedEarningsAccumulatedLosses 2023-03-31 12633084 core:RetainedEarningsAccumulatedLosses 2022-05-31 12633084 bus:OrdinaryShareClass1 core:ShareCapital 2023-03-31 12633084 bus:OrdinaryShareClass1 core:ShareCapital 2022-05-31 12633084 core:FurnitureFittingsToolsEquipment 2022-05-31 12633084 bus:SmallEntities 2022-06-01 2023-03-31 12633084 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-03-31 12633084 bus:FullAccounts 2022-06-01 2023-03-31 12633084 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-03-31 12633084 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-03-31
Company registration number: 12633084
LP Psychology Limited
Unaudited filleted financial statements
31 March 2023
LP Psychology Limited
Contents
Balance sheet
Notes to the financial statements
LP Psychology Limited
Balance sheet
31 March 2023
31/03/23 31/05/22
Note £ £ £ £
Fixed assets
Tangible assets 5 875 961
_______ _______
875 961
Current assets
Debtors 6 - 36
Cash at bank and in hand 2,144 2,282
_______ _______
2,144 2,318
Creditors: amounts falling due
within one year 7 ( 2,320) ( 2,848)
_______ _______
Net current liabilities ( 176) ( 530)
_______ _______
Total assets less current liabilities 699 431
_______ _______
Net assets 699 431
_______ _______
Capital and reserves
Called up share capital 8 2 2
Profit and loss account 697 429
_______ _______
Shareholders funds 699 431
_______ _______
For the period ending 31 March 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 financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
Dr Laura Partington
Director
Company registration number: 12633084
LP Psychology Limited
Notes to the financial statements
Period ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 384 Linthorpe Road, Middlesbrough, North Yorkshire, TS5 6HA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 June 2022 1,130 1,130
Additions 150 150
_______ _______
At 31 March 2023 1,280 1,280
_______ _______
Depreciation
At 1 June 2022 169 169
Charge for the year 236 236
_______ _______
At 31 March 2023 405 405
_______ _______
Carrying amount
At 31 March 2023 875 875
_______ _______
At 31 May 2022 961 961
_______ _______
6. Debtors
31/03/23 31/05/22
£ £
Other debtors - 36
_______ _______
7. Creditors: amounts falling due within one year
31/03/23 31/05/22
£ £
Corporation tax 1,660 1,972
Other creditors 660 876
_______ _______
2,320 2,848
_______ _______
8. Called up share capital
Authorised share capital
31/03/23 31/05/22
No £ No £
Ordinary shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______
Issued, called up and fully paid
31/03/23 31/05/22
No £ No £
Ordinary shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______
9. Directors advances, credits and guarantees
There were no directors advances, credits or guarantees in the year.