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REGISTERED NUMBER: 09551163 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2022 TO 31 DECEMBER 2022

FOR

LOUISE LAING FASHION CONSULTANCY LIMITED

LOUISE LAING FASHION CONSULTANCY LIMITED (REGISTERED NUMBER: 09551163)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 May 2022 to 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOUISE LAING FASHION CONSULTANCY LIMITED

COMPANY INFORMATION
for the Period 1 May 2022 to 31 December 2022







DIRECTOR: Ms L Laing





REGISTERED OFFICE: Unit 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: 09551163 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

LOUISE LAING FASHION CONSULTANCY LIMITED (REGISTERED NUMBER: 09551163)

BALANCE SHEET
31 December 2022

31.12.22 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,928 2,361

CURRENT ASSETS
Stocks 5 5,000 5,000
Debtors 6 11,058 33,274
Cash at bank 266 311
16,324 38,585
CREDITORS
Amounts falling due within one year 7 10,647 13,238
NET CURRENT ASSETS 5,677 25,347
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,605

27,708

CREDITORS
Amounts falling due after more than one
year

8

(21,579

)

(26,539

)

PROVISIONS FOR LIABILITIES 9 (556 ) (449 )
NET (LIABILITIES)/ASSETS (13,530 ) 720

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings (13,532 ) 718
SHAREHOLDERS' FUNDS (13,530 ) 720

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

LOUISE LAING FASHION CONSULTANCY LIMITED (REGISTERED NUMBER: 09551163)

BALANCE SHEET - continued
31 December 2022


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 February 2024 and were signed by:





Ms L Laing - Director


LOUISE LAING FASHION CONSULTANCY LIMITED (REGISTERED NUMBER: 09551163)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 May 2022 to 31 December 2022

1. STATUTORY INFORMATION

Louise Laing Fashion Consultancy Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company's director, the shareholders and the creditors. If the company were unable to continue to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify fixed assets as current assets, long-term liabilities as current liabilities, and to provide for any further liabilities that may arise.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

LOUISE LAING FASHION CONSULTANCY LIMITED (REGISTERED NUMBER: 09551163)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 May 2022 to 31 December 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

LOUISE LAING FASHION CONSULTANCY LIMITED (REGISTERED NUMBER: 09551163)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 May 2022 to 31 December 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2022 5,975
Additions 1,800
At 31 December 2022 7,775
DEPRECIATION
At 1 May 2022 3,614
Charge for period 1,233
At 31 December 2022 4,847
NET BOOK VALUE
At 31 December 2022 2,928
At 30 April 2022 2,361

5. STOCKS
31.12.22 30.4.22
£    £   
Stocks 5,000 5,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 30.4.22
£    £   
Directors' current accounts 11,058 33,274

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 30.4.22
£    £   
Bank loans and overdrafts 7,485 7,485
Trade creditors 360 -
Taxation - 1,781
Value added tax 401 2,531
Accruals 2,401 1,441
10,647 13,238

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 30.4.22
£    £   
Bank loans - 2-5 years 21,579 26,539

LOUISE LAING FASHION CONSULTANCY LIMITED (REGISTERED NUMBER: 09551163)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 May 2022 to 31 December 2022

9. PROVISIONS FOR LIABILITIES
31.12.22 30.4.22
£    £   
Deferred tax
Accelerated capital allowances 556 449

Deferred
tax
£   
Balance at 1 May 2022 449
Provided during period 107
Balance at 31 December 2022 556

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 30.4.22
value: £    £   
2 Ordinary £1 2 2

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 December 2022 and the year ended 30 April 2022:

31.12.22 30.4.22
£    £   
Ms L Laing
Balance outstanding at start of period 33,273 -
Amounts advanced - 170,059
Amounts repaid (22,216 ) (136,786 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 11,057 33,273

During the year the company advanced a loan to the director and the balance at the year end was £11,057. Interest has been charged at 2% on the average balance, in line with HMRC official rates.