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REGISTERED NUMBER: 06309206 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

LORIN LAKASING LIMITED

LORIN LAKASING LIMITED (REGISTERED NUMBER: 06309206)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LORIN LAKASING LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: Dr L Lakasing
Mr S C Martin





SECRETARY: Mr S C Martin





REGISTERED OFFICE: 6b Parkway
Porters Wood
St Albans
Hertfordshire
AL3 6PA





REGISTERED NUMBER: 06309206 (England and Wales)





ACCOUNTANTS: Chartswood Limited
Chartered Certified Accountants
6b Parkway
Porters Wood
St Albans
Hertfordshire
AL3 6PA

LORIN LAKASING LIMITED (REGISTERED NUMBER: 06309206)

BALANCE SHEET
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,548 5,797

CURRENT ASSETS
Debtors 5 714,503 571,759
Cash at bank 204,819 248,534
919,322 820,293
CREDITORS
Amounts falling due within one year 6 315,652 261,891
NET CURRENT ASSETS 603,670 558,402
TOTAL ASSETS LESS CURRENT
LIABILITIES

611,218

564,199

PROVISIONS FOR LIABILITIES 7 1,751 1,101
NET ASSETS 609,467 563,098

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 609,367 562,998
SHAREHOLDERS' FUNDS 609,467 563,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

LORIN LAKASING LIMITED (REGISTERED NUMBER: 06309206)

BALANCE SHEET - continued
31 July 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:





Mr S C Martin - Director


LORIN LAKASING LIMITED (REGISTERED NUMBER: 06309206)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Lorin Lakasing 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. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the provision of services. Turnover is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - Straight line over 3 years
Computer equipment - Straight line over 3 years

LORIN LAKASING LIMITED (REGISTERED NUMBER: 06309206)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

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.

LORIN LAKASING LIMITED (REGISTERED NUMBER: 06309206)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 19,800 6,330 13,829 39,959
Additions - - 4,853 4,853
At 31 July 2023 19,800 6,330 18,682 44,812
DEPRECIATION
At 1 August 2022 16,863 6,330 10,969 34,162
Charge for year 735 - 2,367 3,102
At 31 July 2023 17,598 6,330 13,336 37,264
NET BOOK VALUE
At 31 July 2023 2,202 - 5,346 7,548
At 31 July 2022 2,937 - 2,860 5,797

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 33,788 22,367
Directors' current accounts 471,670 376,955
Prepayments 209,045 172,437
714,503 571,759

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 227,357 171,464
Taxation 78,228 80,022
Social security and other taxes 1,185 1,763
Accruals 8,882 8,642
315,652 261,891

LORIN LAKASING LIMITED (REGISTERED NUMBER: 06309206)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

7. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax
Accelerated capital allowances 1,751 1,101

Deferred
tax
£   
Balance at 1 August 2022 1,101
Charge to Statement of Income and Retained Earnings during year 650
Balance at 31 July 2023 1,751

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 August 2022 562,998
Profit for the year 296,369
Dividends (250,000 )
At 31 July 2023 609,367

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Dr L Lakasing
Balance outstanding at start of year 186,080 153,623
Amounts advanced 232,149 186,080
Amounts repaid (186,080 ) (153,623 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 232,149 186,080

LORIN LAKASING LIMITED (REGISTERED NUMBER: 06309206)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr S C Martin
Balance outstanding at start of year 190,875 153,750
Amounts advanced 239,625 190,875
Amounts repaid (190,875 ) (153,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 239,625 190,875