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Registration number: 12068035

LLK Financial Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

LLK Financial Services Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

LLK Financial Services Limited

(Registration number: 12068035)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

105,851

105,851

Creditors: Amounts falling due within one year

5

(3,006)

(1,254)

Net assets

 

102,845

104,597

Capital and reserves

 

Called up share capital

100

100

Retained earnings

102,745

104,497

Shareholders' funds

 

102,845

104,597

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 7 February 2024 and signed on its behalf by:
 

Mr R P Heffer
Director

   
     
 

LLK Financial Services Limited

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 and Wales.

The address of its registered office is:
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH

The principal place of business is:
1st Floor
153 Commercial Road
Poole
Dorset
BH14 OJJ

These financial statements were authorised for issue by the Board on 7 February 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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The company has suffered a loss during the year but has positive reserves. However, the directors are confident that the business, with the financial support of the directors, has adequate resources to continue in operational existence for the foreseeable future and accordingly the company has prepared its financial statements on a going concern basis.

 

LLK Financial Services Limited

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

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2022 - 2).

4

Debtors

2023
£

2022
£

Receivables from related parties

105,556

105,556

Other debtors

295

295

105,851

105,851

5

Creditors

Due within one year

2023
£

2022
£

Accruals

3,006

1,254

 

LLK Financial Services Limited

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

6

Related party transactions

Summary of transactions with other related parties

Other related parties are considered to be entities with common control.
 
During the year the company continued to make loans available to other related parties. The loans are interest free and repayable on demand.

During the prior year the company incurred management charges from other related parties.

 

Expenditure with and payables to related parties

2022

Other related parties
£

Rendering of services

14,608

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

105,556

105,556

At end of period

105,556

105,556

2022

Other related parties
£

Total
£

At start of period

121,565

121,565

Repaid

(16,009)

(16,009)

At end of period

105,556

105,556