1 August 2022 false No description of principal activity Taxfiler 2024.1 12123856business:PrivateLimitedCompanyLtd2022-08-012023-07-31 121238562022-07-31 121238562022-08-012023-07-31 12123856business:AuditExempt-NoAccountantsReport2022-08-012023-07-31 12123856business:AbridgedAccounts2022-08-012023-07-31 121238562023-07-31 121238562022-07-31 12123856core:WithinOneYear2023-07-31 12123856core:WithinOneYear2022-07-31 12123856core:AfterOneYear2023-07-31 12123856core:AfterOneYear2022-07-31 12123856core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 12123856core:ShareCapitalcore:PreviouslyStatedAmount2022-07-31 12123856core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 12123856core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-07-31 12123856core:PreviouslyStatedAmount2023-07-31 12123856core:PreviouslyStatedAmount2022-07-31 12123856business:SmallEntities2022-08-012023-07-31 12123856business:Director12022-08-012023-07-31 12123856countries:EnglandWales2022-08-012023-07-31 12123856business:RegisteredOffice2022-08-012023-07-31 121238562021-08-012022-07-31 iso4217:GBP xbrli:pure
LAFEM TRADING AND PROJECTS LTD Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,353 
5,804 
Current assets
Inventories
105,000 
71,568 
Debtors
- 
3,274 
Cash at bank and in hand
557 
234 
105,557 
75,076 
Creditors: amounts falling due within one year
(98,795)
(63,427)
Net current assets
6,762 
11,649 
Total assets less current liabilities
11,115 
17,453 
Creditors: amounts falling due after more than one year
(11,200)
(16,360)
Net (liabilities)/assets
(85)
1,093 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(86)
1,092 
Shareholders' funds
(85)
1,093 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 April 2024 and were signed on its behalf by
Olufemi Mohammed TAIWO Director Company Registration No. 12123856
- 1 -
LAFEM TRADING AND PROJECTS LTD Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
LAFEM TRADING AND PROJECTS LTD is a private company, limited by shares, registered in England and Wales, registration number 12123856. The registered office is 3 MALTON CRESCENT, NORTH SHIELDS, NE29 7RJ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 August 2022
9,775 
At 31 July 2023
9,775 
Depreciation
At 1 August 2022
3,971 
Charge for the year
1,451 
At 31 July 2023
5,422 
Net book value
At 31 July 2023
4,353 
At 31 July 2022
5,804 
5
Average number of employees
During the year the average number of employees was 1 (2022: 1).
- 2 -