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REGISTERED NUMBER: 08247201 (England and Wales)











Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Larkbridge Mortgages Limited

Larkbridge Mortgages Limited (Registered number: 08247201)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Larkbridge Mortgages Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: L E J Brown
A M Speed





SECRETARY: L E J Brown





REGISTERED OFFICE: The Stables
Flempton House
Flempton
Bury St Edmunds
Suffolk
IP28 6EG





REGISTERED NUMBER: 08247201 (England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Larkbridge Mortgages Limited (Registered number: 08247201)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 7,505 3,338
7,505 3,338

CURRENT ASSETS
Debtors 7 74,712 101,913
Cash at bank and in hand 92,141 28,746
166,853 130,659
CREDITORS
Amounts falling due within one year 8 65,246 54,868
NET CURRENT ASSETS 101,607 75,791
TOTAL ASSETS LESS CURRENT LIABILITIES 109,112 79,129

PROVISIONS FOR LIABILITIES 10 865 634
NET ASSETS 108,247 78,495

CAPITAL AND RESERVES
Called up share capital 11 750 750
Capital redemption reserve 250 250
Retained earnings 107,247 77,495
SHAREHOLDERS' FUNDS 108,247 78,495

Larkbridge Mortgages Limited (Registered number: 08247201)

Balance Sheet - continued
28 February 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





L E J Brown - Director


Larkbridge Mortgages Limited (Registered number: 08247201)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Larkbridge Mortgages 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration receivable, excluding discounts, rebates and other sales taxes for services and commissions. Commission income in relation to work carried out during the year but received after the year end is estimated based on amounts received in the two months following the year end.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Leasehold property improvements - 5 years straight line
Fixtures and fittings - 5 years straight line
Office equipment - 3 years straight line

Financial instruments
All of the company's financial instruments are considered to be basic. Basic financial instruments are recognised at amortised cost.

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


Larkbridge Mortgages Limited (Registered number: 08247201)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 13 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 500
AMORTISATION
At 1 March 2022
and 28 February 2023 500
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

Larkbridge Mortgages Limited (Registered number: 08247201)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 19,200 22,813 42,013
Additions - 5,810 5,810
At 28 February 2023 19,200 28,623 47,823
DEPRECIATION
At 1 March 2022 19,200 19,475 38,675
Charge for year - 1,643 1,643
At 28 February 2023 19,200 21,118 40,318
NET BOOK VALUE
At 28 February 2023 - 7,505 7,505
At 28 February 2022 - 3,338 3,338

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 72,666 100,088
Other debtors 2,046 1,825
74,712 101,913

Other debtors includes prepayments of £2,046 (2022 £1,825)

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,254 5,475
Taxation and social security 23,624 14,948
Other creditors 38,368 34,445
65,246 54,868

Other creditors includes accruals of £32,076 (2022: £30,151).

Other creditors includes amounts owed to the directors.

Larkbridge Mortgages Limited (Registered number: 08247201)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 15,000 6,250
Between one and five years 75,000 -
In more than five years 5,000 -
95,000 6,250

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 865 634

Deferred
tax
£   
Balance at 1 March 2022 634
Charge to Income Statement during year 231
Balance at 28 February 2023 865

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
750 Ordinary £1 750 750