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Company Registration No. 07670063 (England and Wales)
Lara Limited Unaudited accounts for the year ended 30 June 2023
Lara Limited Unaudited accounts Contents
Page
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Lara Limited Company Information for the year ended 30 June 2023
Director
Laura Xhema
Company Number
07670063 (England and Wales)
Registered Office
Kentish base Salon 283 Kentish Town Road London Greater London NW5 2AB
Accountants
Solid Ltd Eagle House 163 City Road London EC1V 1NR
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Lara Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,154 
1,794 
Current assets
Inventories
6,000 
6,000 
Debtors
6,345 
5,801 
Cash at bank and in hand
2,110 
16,241 
14,455 
28,042 
Creditors: amounts falling due within one year
(16,507)
(21,377)
Net current (liabilities)/assets
(2,052)
6,665 
Net assets
102 
8,459 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
2 
8,359 
Shareholders' funds
102 
8,459 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 August 2023 and were signed on its behalf by
Laura Xhema Director Company Registration No. 07670063
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Lara Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Lara Limited is a private company, limited by shares, registered in England and Wales, registration number 07670063. The registered office is Kentish base Salon, 283 Kentish Town Road, London, Greater London, NW5 2AB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Stock
Stock has been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 4 years
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Lara Limited Notes to the Accounts for the year ended 30 June 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
2,515 
- 
2,515 
Additions
- 
1,230 
1,230 
At 30 June 2023
2,515 
1,230 
3,745 
Depreciation
At 1 July 2022
721 
- 
721 
Charge for the year
629 
241 
870 
At 30 June 2023
1,350 
241 
1,591 
Net book value
At 30 June 2023
1,165 
989 
2,154 
At 30 June 2022
1,794 
- 
1,794 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,913 
3,543 
Other debtors
4,432 
2,258 
6,345 
5,801 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,486 
- 
VAT
4,512 
4,094 
Trade creditors
4,485 
5,732 
Taxes and social security
3,615 
7,153 
Loans from directors
- 
4,398 
Accruals
1,409 
- 
16,507 
21,377 
7
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
32,000 
32,000 
Later than one year and not later than five years
35,000 
35,000 
Later than five years
38,000 
38,000 
105,000 
105,000 
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Lara Limited Notes to the Accounts for the year ended 30 June 2023
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Laura Xhema
Interest free loan
- 
32,279 
31,322 
957 
- 
32,279 
31,322 
957 
At year end 2023, director's loan account was overdrawn by £957. The amount was cleared by way of dividends by end of September 2023
9
Average number of employees
During the year the average number of employees was 7 (2022: 6).
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