Company Registration No. 10040773 (England and Wales)
LAING ACCESS PLATFORMS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
LAING ACCESS PLATFORMS LIMITED
COMPANY INFORMATION
Director
Mr J Laing
Secretary
Miss J Laing
Company number
10040773
Registered office
Garage Lane Industrial Estate
Garage Lane
Setchey
King's Lynn
Norfolk
United Kingdom
PE33 0BE
Accountants
Mapus-Smith & Lemmon LLP
48 King Street
King's Lynn
Norfolk
PE30 1HE
Business address
Garage Lane Industrial Estate
Garage Lane
Setchey
King's Lynn
Norfolk
PE33 0BE
LAING ACCESS PLATFORMS LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4 - 5
Statement of changes in equity
6
Notes to the financial statements
7 - 10
LAING ACCESS PLATFORMS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The director presents his annual report and financial statements for the year ended 31 March 2023.

Principal activities

The principal activity of the company continued to be that of sale and service of capital lifting equipment.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr J Laing
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr J Laing
Director
11 March 2024
LAING ACCESS PLATFORMS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LAING ACCESS PLATFORMS LIMITED FOR THE YEAR ENDED 31 MARCH 2023
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Laing Access Platforms Limited for the year ended 31 March 2023 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Laing Access Platforms Limited, as a body, in accordance with the terms of our engagement letter dated 20 December 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Laing Access Platforms Limited and state those matters that we have agreed to state to the board of directors of Laing Access Platforms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Laing Access Platforms Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Laing Access Platforms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Laing Access Platforms Limited. You consider that Laing Access Platforms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Laing Access Platforms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Mapus-Smith & Lemmon LLP
11 March 2024
Chartered Accountants
48 King Street
King's Lynn
Norfolk
PE30 1HE
LAING ACCESS PLATFORMS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2023
2022
£
£
Turnover
173,410
94,749
Cost of sales
(61,709)
(36,473)
Gross profit
111,701
58,276
Administrative expenses
(97,801)
(103,177)
Other operating income
-
0
15,316
Operating profit/(loss)
13,900
(29,585)
Interest receivable and similar income
(786)
-
0
Profit/(loss) before taxation
13,114
(29,585)
Tax on profit/(loss)
(2,491)
14
Profit/(loss) for the financial year
10,623
(29,571)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

LAING ACCESS PLATFORMS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 4 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
262
328
Current assets
Stocks
6,400
6,400
Debtors
5
30,768
17,709
Cash at bank and in hand
35,346
5,318
72,514
29,427
Creditors: amounts falling due within one year
6
(99,157)
(66,759)
Net current liabilities
(26,643)
(37,332)
Total assets less current liabilities
(26,381)
(37,004)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(26,481)
(37,104)
Total equity
(26,381)
(37,004)
Company Registration No. 10040773
LAING ACCESS PLATFORMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 5 -

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 11 March 2024
Mr J Laing
Director
Company Registration No. 10040773
LAING ACCESS PLATFORMS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2021
100
(7,533)
(7,433)
Year ended 31 March 2022:
Loss and total comprehensive income for the year
-
(29,571)
(29,571)
Balance at 31 March 2022
100
(37,104)
(37,004)
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
10,623
10,623
Balance at 31 March 2023
100
(26,481)
(26,381)
LAING ACCESS PLATFORMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
1
Accounting policies
Company information

Laing Access Platforms Limited is a private company limited by shares incorporated in England and Wales. The registered office and business address is Garage Lane Industrial Estate, Garage Lane, Setchey, King's Lynn, Norfolk, PE33 0BE.

1.1
Accounting convention

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. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
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:

Plant and equipment   - 20% reducing balance basis

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

LAING ACCESS PLATFORMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 8 -
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

LAING ACCESS PLATFORMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
6
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
1,250
Depreciation and impairment
At 1 April 2022
922
Depreciation charged in the year
66
At 31 March 2023
988
Carrying amount
At 31 March 2023
262
At 31 March 2022
328
LAING ACCESS PLATFORMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
22,050
8,294
Other debtors
8,718
9,415
30,768
17,709
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
20,176
12,214
Taxation and social security
11,655
2,215
Other creditors
67,326
52,330
99,157
66,759
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