Load Runner Limited
Company Registration No. 01800672 (England And Wales)
Unaudited Financial Statements
Year Ended 29 March 2023
LOAD RUNNER LIMITED
Load Runner Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
LOAD RUNNER LIMITED
Load Runner Limited
BALANCE SHEET
AS AT
29 MARCH 2023
29 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,053
8,170
Current assets
Debtors
4
5,400
-
0
Cash at bank and in hand
1,001
3,473
6,401
3,473
Creditors: amounts falling due within one year
5
(95,030)
(77,442)
Net current liabilities
(88,629)
(73,969)
Net liabilities
(80,576)
(65,799)
Capital and reserves
Called up share capital
52
52
Profit and loss reserves
(80,628)
(65,851)
Total equity
(80,576)
(65,799)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

LOAD RUNNER LIMITED
Load Runner Limited
BALANCE SHEET (CONTINUED)
AS AT
29 MARCH 2023
29 March 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 11 March 2024
K P Morgan
Director
Company registration number 01800672 (England and Wales)
LOAD RUNNER LIMITED
Load Runner Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2023
- 3 -
1
Accounting policies
Company information

Load Runner Limited is a private company limited by shares incorporated in England and Wales. The registered office is Smokehall Lane, Smokehall Ind Est, Winsford, Cheshire, CW7 3BE.

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

At the time of approving the financial statements, the balance sheet was in a net liability position of £80,576. This was due to the Company owing the Director £83,301. The Director intends to keep the money in the business and therefore has reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Director continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
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. 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:

Freehold land and buildings
0%
Plant and equipment
25% Reducing balance

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.

LOAD RUNNER LIMITED
Load Runner Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

LOAD RUNNER LIMITED
Load Runner Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
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.

1.10
Retirement benefits

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

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

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

2023
2022
Number
Number
Total
3
3
LOAD RUNNER LIMITED
Load Runner Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2023
- 6 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 30 March 2022
7,701
151,497
159,198
Disposals
-
0
(3,121)
(3,121)
At 29 March 2023
7,701
148,376
156,077
Depreciation and impairment
At 30 March 2022
-
0
151,028
151,028
Depreciation charged in the year
-
0
117
117
Eliminated in respect of disposals
-
0
(3,121)
(3,121)
At 29 March 2023
-
0
148,024
148,024
Carrying amount
At 29 March 2023
7,701
352
8,053
At 29 March 2022
7,701
469
8,170
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,400
-
0
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,427
-
0
Taxation and social security
340
6,911
Other creditors
86,263
70,531
95,030
77,442
LOAD RUNNER LIMITED
Load Runner Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2023
- 7 -
6
Directors' transactions

During the year the Director advanced £34,690 (2022: £57,525) to the Company and was repaid £16,990 (2022: £38,000). At 31 March 2023 the Company owed £83,301 (2022 £65,601) to the Director. No interest has been charged to the Company in respect of this loan which has been classified in creditors due within one year.

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