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REGISTERED NUMBER: 04080665 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2023

for

LAP ARCHITECTS AND INTERIOR
DESIGNERS LIMITED

LAP ARCHITECTS AND INTERIOR
DESIGNERS LIMITED (REGISTERED NUMBER: 04080665)

Contents of the Financial Statements
for the year ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAP ARCHITECTS AND INTERIOR
DESIGNERS LIMITED

Company Information
for the year ended 31 October 2023







Directors: Mr S Genco
Mr A R Hill





Registered office: 123 New London Road
Chelmsford
Essex
CM2 0QT





Registered number: 04080665 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE

LAP ARCHITECTS AND INTERIOR
DESIGNERS LIMITED (REGISTERED NUMBER: 04080665)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 40,330 37,903

Current assets
Debtors 5 137,949 294,650
Cash at bank and in hand 191,557 319,480
329,506 614,130
Creditors
Amounts falling due within one year 6 174,582 384,064
Net current assets 154,924 230,066
Total assets less current liabilities 195,254 267,969

Provisions for liabilities 8 7,007 6,401
Net assets 188,247 261,568

Capital and reserves
Called up share capital 9 794 794
Share premium 16,855 16,855
Capital redemption reserve 338 338
Retained earnings 170,260 243,581
Shareholders' funds 188,247 261,568

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LAP ARCHITECTS AND INTERIOR
DESIGNERS LIMITED (REGISTERED NUMBER: 04080665)

Balance Sheet - continued
31 October 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:




Mr S Genco - Director



Mr A R Hill - Director


LAP ARCHITECTS AND INTERIOR
DESIGNERS LIMITED (REGISTERED NUMBER: 04080665)

Notes to the Financial Statements
for the year ended 31 October 2023


1. Statutory information

LAP Architects and Interior Designers 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.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


LAP ARCHITECTS AND INTERIOR
DESIGNERS LIMITED (REGISTERED NUMBER: 04080665)

Notes to the Financial Statements - continued
for the year ended 31 October 2023


2. Accounting policies - continued
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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 18 (2022 - 17 ) .

4. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 November 2022 10,696 103,405 161,835 275,936
Additions 2,564 248 13,700 16,512
Disposals - - (4,652 ) (4,652 )
At 31 October 2023 13,260 103,653 170,883 287,796
Depreciation
At 1 November 2022 7,708 101,290 129,035 238,033
Charge for year 1,388 556 9,603 11,547
Eliminated on disposal - - (2,114 ) (2,114 )
At 31 October 2023 9,096 101,846 136,524 247,466
Net book value
At 31 October 2023 4,164 1,807 34,359 40,330
At 31 October 2022 2,988 2,115 32,800 37,903

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 123,771 259,279
Other debtors 14,178 35,371
137,949 294,650

LAP ARCHITECTS AND INTERIOR
DESIGNERS LIMITED (REGISTERED NUMBER: 04080665)

Notes to the Financial Statements - continued
for the year ended 31 October 2023


6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 3,751 7,926
Taxation and social security 56,143 201,157
Other creditors 114,688 174,981
174,582 384,064

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 45,294 35,000
Between one and five years 122,500 140,000
In more than five years - 17,500
167,794 192,500

8. Provisions for liabilities
2023 2022
£    £   
Deferred tax 7,007 6,401

Deferred
tax
£   
Balance at 1 November 2022 6,401
Charge to Statement of Income and Retained Earnings during year 606
Balance at 31 October 2023 7,007

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
81 'D' Ordinary 26.32 p 21 21
500 B Ordinary 81.76 2p 409 409
36,387 C Ordinary 1p 364 364
794 794

10. Related party disclosures

During the period the company paid rent totalling £35,000 (2022 - £35,000) to a company in which the directors have a material interest.