1 July 2022 false No description of principal activity Taxfiler 2023.14 8103250business:PrivateLimitedCompanyLtd2022-07-012023-06-30 81032502022-06-30 81032502022-07-012023-06-30 8103250business:AuditExempt-NoAccountantsReport2022-07-012023-06-30 8103250business:AbridgedAccounts2022-07-012023-06-30 81032502023-06-30 8103250business:Director12022-07-012023-06-30 8103250business:Director22022-07-012023-06-30 8103250business:RegisteredOffice2022-07-012023-06-30 81032502022-06-30 8103250core:WithinOneYear2023-06-30 8103250core:WithinOneYear2022-06-30 8103250core:AfterOneYear2023-06-30 8103250core:AfterOneYear2022-06-30 8103250core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 8103250core:ShareCapitalcore:PreviouslyStatedAmount2022-06-30 8103250core:RevaluationReservecore:PreviouslyStatedAmount2023-06-30 8103250core:RevaluationReservecore:PreviouslyStatedAmount2022-06-30 8103250core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 8103250core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-06-30 8103250core:PreviouslyStatedAmount2023-06-30 8103250core:PreviouslyStatedAmount2022-06-30 8103250business:SmallEntities2022-07-012023-06-30 8103250countries:EnglandWales2022-07-012023-06-30 8103250core:PlantMachinery2022-07-012023-06-30 8103250core:MotorVehicles2022-07-012023-06-30 8103250core:FurnitureFittings2022-07-012023-06-30 8103250core:BetweenOneFiveYears2023-06-30 8103250core:BetweenOneFiveYears2022-06-30 81032502021-07-012022-06-30 iso4217:GBP xbrli:pure
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
Page
- 2 -
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
- 3 -
Loudon Way Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
556,296 
601,441 
Tangible assets
70,728 
96,361 
627,024 
697,802 
Current assets
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)
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
(363,333)
(363,333)
Profit and loss account
7 
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
- 4 -
Loudon Way Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
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.
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.
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
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.
Taxation
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
- 5 -
Loudon Way Limited Notes to the Accounts for the year ended 30 June 2023
Intangible fixed assets
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.
Leased assets
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.
Pension schemes
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
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
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.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 July 2022
902,899 
At 30 June 2023
902,899 
Amortisation
At 1 July 2022
301,458 
Charge for the year
45,145 
At 30 June 2023
346,603 
Net book value
At 30 June 2023
556,296 
At 30 June 2022
601,441 
- 6 -
Loudon Way Limited Notes to the Accounts for the year ended 30 June 2023
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 July 2022
188,561 
At 30 June 2023
188,561 
Depreciation
At 1 July 2022
92,200 
Charge for the year
25,633 
At 30 June 2023
117,833 
Net book value
At 30 June 2023
70,728 
At 30 June 2022
96,361 
6
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 
57,950 
70,331 
7
Controlling party
The ultimate controlling party is ARK Smile Limited.
8
Average number of employees
During the year the average number of employees was 9 (2022: 9).
- 7 -