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Company Registration No. 10855856 (England and Wales)





LONSITE LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JULY 2023




































Riordan O'Sullivan & Co
Chartered Certified Accountants
40 Chamberlayne Road
London
NW10 3JE

 
LONSITE LIMITED
 
 
COMPANY INFORMATION


Director
Michael Christopher Durkan 




Registered number
10855856



Registered office
491 Green Lanes
Palmers Green

London

England

N13 4BS




Accountants
Riordan O'Sullivan & Co
Chartered Certified Accountants

40 Chamberlayne Road

London

NW10 3JE





 
LONSITE LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 5


 
LONSITE LIMITED
REGISTERED NUMBER:10855856

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,782
2,325

  
12,782
2,325

Current assets
  

Debtors
 5 
816,504
1,521,181

Bank and cash balances
  
543,279
167,668

  
1,359,783
1,688,849

Creditors: amounts falling due within one year
 6 
(319,191)
(791,291)

Net current assets
  
 
 
1,040,592
 
 
897,558

Total assets less current liabilities
  
1,053,374
899,883

Creditors: amounts falling due after more than one year
 7 
(116,533)
(183,267)

  

Net assets
  
936,841
716,616


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
936,741
716,516

  
936,841
716,616


Page 1

 
LONSITE LIMITED
REGISTERED NUMBER:10855856
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 January 2024.




___________________________
Michael Christopher Durkan
Director

Page 2

 
LONSITE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Lonsite Limited is a private company limited by shares incorporated in England and Wales. The registered office is 491 Green Lanes, Palmers Green, London, England, N13 4BS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

 
2.2

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Page 3

 
LONSITE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment
-
20%
straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 75).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 August 2022
3,870


Additions
11,602



At 31 July 2023

15,472



Depreciation


At 1 August 2022
1,545


Charge for the year
1,145



At 31 July 2023

2,690



Net book value



At 31 July 2023
12,782



At 31 July 2022
2,325

Page 4

 
LONSITE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
816,504
1,521,181



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Credit cards
12,749
195,181

Trade creditors
3,210
9,479

Corporation tax
135,553
167,705

Other taxation and social security
45,550
105,499

Other creditors
10,167
29,075

Accruals
111,962
284,352

319,191
791,291



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

CIBIL loan
116,533
183,267



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



9.


Post balance sheet events

There were no events after the year end which materially affected the company.


10.


Controlling party

Michael Durkan owns 100% of the issued share capital of the company and as such is the ultimate controlling party.

 
Page 5