Company Registration No. 8103250 (England and Wales)
Loudon Way Limited
Unaudited accounts
for the year ended 30 June 2023
Loudon Way Limited
Unaudited accounts
Contents
Loudon Way Limited
Company Information
for the year ended 30 June 2023
Directors
A Khalil
R Afridi
Company Number
8103250 (England and Wales)
Registered Office
25 Regent Way
Kings Hill
West Malling
Kent
ME19 4EB
Loudon Way Limited
Statement of financial position
as at 30 June 2023
Intangible assets
556,296
601,441
Tangible assets
70,728
96,361
Cash at bank and in hand
13,956
15,118
Creditors: amounts falling due within one year
(547,030)
(568,536)
Net current liabilities
(533,074)
(553,418)
Total assets less current liabilities
93,950
144,384
Creditors: amounts falling due after more than one year
(457,176)
(504,699)
Net liabilities
(363,226)
(360,315)
Called up share capital
100
100
Revaluation reserve
(363,333)
(363,333)
Profit and loss account
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2,918
Shareholders' funds
(363,226)
(360,315)
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by
A Khalil
Director
Company Registration No. 8103250
Loudon Way Limited
Notes to the Accounts
for the year ended 30 June 2023
Loudon Way Limited is a private company, limited by shares, registered in England and Wales, registration number 8103250. The registered office is 25 Regent Way, Kings Hill, West Malling, Kent, ME19 4EB.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make, judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Turnover is measured at fair value of consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from sale of services is recognised when the significant risk & rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefit will flow to the entity; and the cost incurred or to be incurred in respect of the transactions can be measured reliably.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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
20% - Straight line
Motor vehicles
25% - Straight line
Fixtures & fittings
15% - Reducing balance
Loudon Way Limited
Notes to the Accounts
for the year ended 30 June 2023
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where
circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill is amortised over a period of 20 years.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates pension schemes for employees. The annual contributions payable are charged to the profit and loss account.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest
in the assets after deducting all of its liabilities.
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Intangible fixed assets
Total
Charge for the year
45,145
Loudon Way Limited
Notes to the Accounts
for the year ended 30 June 2023
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Tangible fixed assets
Total
Charge for the year
25,633
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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
10,642
12,381
Later than one year and not later than five years
47,308
57,950
The ultimate controlling party is ARK Smile Limited.
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Average number of employees
During the year the average number of employees was 9 (2022: 9).