LPM (North West) Ltd 10094209 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of management consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 10094209 2022-07-01 2023-06-30 10094209 2023-06-30 10094209 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-06-30 10094209 bus:Revised 2023-06-30 10094209 core:CurrentFinancialInstruments 2023-06-30 10094209 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10094209 core:Non-currentFinancialInstruments 2023-06-30 10094209 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 10094209 core:FurnitureFittingsToolsEquipment 2023-06-30 10094209 bus:SmallEntities 2022-07-01 2023-06-30 10094209 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10094209 bus:FullAccounts 2022-07-01 2023-06-30 10094209 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 10094209 bus:RegisteredOffice 2022-07-01 2023-06-30 10094209 bus:Director1 2022-07-01 2023-06-30 10094209 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-07-01 2023-06-30 10094209 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10094209 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 10094209 core:OfficeEquipment 2022-07-01 2023-06-30 10094209 countries:England 2022-07-01 2023-06-30 10094209 2022-06-30 10094209 core:FurnitureFittingsToolsEquipment 2022-06-30 10094209 2021-07-01 2022-06-30 10094209 2022-06-30 10094209 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-06-30 10094209 core:CurrentFinancialInstruments 2022-06-30 10094209 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 10094209 core:Non-currentFinancialInstruments 2022-06-30 10094209 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 10094209 core:FurnitureFittingsToolsEquipment 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10094209

LPM (North West) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

LPM (North West) Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

LPM (North West) Ltd

(Registration number: 10094209)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

17,679

18,510

Current assets

 

Cash at bank and in hand

 

11,872

66,547

Creditors: Amounts falling due within one year

5

(22,556)

(71,570)

Net current liabilities

 

(10,684)

(5,023)

Total assets less current liabilities

 

6,995

13,487

Creditors: Amounts falling due after more than one year

5

-

(9,567)

Provisions for liabilities

(3,359)

(3,517)

Net assets

 

3,636

403

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

3,536

303

Shareholders' funds

 

3,636

403

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 March 2024 and signed on its behalf by:
 

.........................................
Mrs L A Pocock
Director

 

LPM (North West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Cornfield House
Cornfield Grove
Burnley
Lancashire
BB12 8UB

These financial statements were authorised for issue by the Board on 5 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

LPM (North West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% per annum reducing balance basis

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

LPM (North West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

LPM (North West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Office equipment
£

Total
£

Cost

At 1 July 2022

32,596

32,596

Additions

4,497

4,497

At 30 June 2023

37,093

37,093

Depreciation

At 1 July 2022

14,086

14,086

Charge for the year

5,328

5,328

At 30 June 2023

19,414

19,414

Net book value

At 30 June 2023

17,679

17,679

At 30 June 2022

18,510

18,510

5

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

17,895

70,039

Trade creditors

 

150

150

Accruals

 

1,170

1,170

Corporation tax liability

3,341

211

 

22,556

71,570

Due after one year

 

Loans and borrowings

7

-

9,567

 

LPM (North West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

9,567

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

2,800

Other borrowings

17,895

67,239

17,895

70,039