Company registration number 03688524 (England and Wales)
CONCEPT LAUNCH PARTNERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CONCEPT LAUNCH PARTNERS LIMITED
COMPANY INFORMATION
Director
Mr S R Edwards
Company number
03688524
Registered office
Thorpe House
93 Headlands
Kettering
Northamptonshire
United Kingdom
NN15 6BL
Accountants
Azets
Thorpe House
93 Headlands
Kettering
Northamptonshire
United Kingdom
NN15 6BL
CONCEPT LAUNCH PARTNERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CONCEPT LAUNCH PARTNERS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
50,094
66,791
Current assets
Debtors
5
396,806
2,342,775
Cash at bank and in hand
248,635
121,442
645,441
2,464,217
Creditors: amounts falling due within one year
6
(344,894)
(815,037)
Net current assets
300,547
1,649,180
Total assets less current liabilities
350,641
1,715,971
Provisions for liabilities
(10,179)
(16,697)
Net assets
340,462
1,699,274
Capital and reserves
Called up share capital
7
4,102
4,102
Capital redemption reserve
6,002
6,002
Profit and loss reserves
330,358
1,689,170
Total equity
340,462
1,699,274

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 31 December 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.

The financial statements were approved by the board of directors and authorised for issue on 28 March 2024 and are signed on its behalf by:
Mr S R Edwards
Director
Company Registration No. 03688524
CONCEPT LAUNCH PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Concept Launch Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is Thorpe House, 93 Headlands, Kettering, Northamptonshire, United Kingdom, NN15 6BL.

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
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.

 

1.3
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:

Computers
33.3% on a straight line basis
Motor vehicles
25% on a straight line 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.

1.4
Cash at bank and in hand

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.

1.5
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.

CONCEPT LAUNCH PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

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

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 significant 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.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.9
Retirement benefits

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

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

CONCEPT LAUNCH PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Employees

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

2023
2022
Number
Number
Total
17
32
4
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
8,194
66,790
74,984
Depreciation and impairment
At 1 January 2023
8,193
-
0
8,193
Depreciation charged in the year
-
0
16,697
16,697
At 31 December 2023
8,193
16,697
24,890
Carrying amount
At 31 December 2023
1
50,093
50,094
At 31 December 2022
1
66,790
66,791
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
185,381
1,062,813
Other debtors
211,425
1,279,962
396,806
2,342,775
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
85,113
202,387
Corporation tax
33,847
137,939
Other taxation and social security
185,565
293,182
Other creditors
40,369
181,529
344,894
815,037
CONCEPT LAUNCH PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' of £1 each
3,714
3,714
3,714
3,714
Ordinary 'B' of £1 each
96
96
96
96
Ordinary 'C' of £1 each
96
96
96
96
Ordinary 'D' of £1 each
96
96
96
96
Ordinary 'E' of £1 each
50
50
50
50
Ordinary 'F' of £1 each
50
50
50
50
4,102
4,102
4,102
4,102
8
Financial commitments, guarantees and contingent liabilities

The company has future operating lease commitments of £12,374 as at 31 December 2023.

9
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Joint
-
1,068,537
260,034
(1,328,571)
-
1,068,537
260,034
(1,328,571)
-
2023-12-312023-01-01false28 March 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr K I EdwardsMrs J EdwardsMr S R Edwardsfalsefalse036885242023-01-012023-12-3103688524bus:Director32023-01-012023-12-3103688524bus:Director12023-01-012023-12-3103688524bus:Director22023-01-012023-12-3103688524bus:RegisteredOffice2023-01-012023-12-31036885242023-12-31036885242022-12-3103688524core:ComputerEquipment2023-12-3103688524core:MotorVehicles2023-12-3103688524core:ComputerEquipment2022-12-3103688524core:MotorVehicles2022-12-3103688524core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3103688524core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3103688524core:CurrentFinancialInstruments2023-12-3103688524core:CurrentFinancialInstruments2022-12-3103688524core:ShareCapital2023-12-3103688524core:ShareCapital2022-12-3103688524core:CapitalRedemptionReserve2023-12-3103688524core:CapitalRedemptionReserve2022-12-3103688524core:RetainedEarningsAccumulatedLosses2023-12-3103688524core:RetainedEarningsAccumulatedLosses2022-12-3103688524core:ShareCapitalOrdinaryShares2023-12-3103688524core:ShareCapitalOrdinaryShares2022-12-3103688524core:ComputerEquipment2023-01-012023-12-3103688524core:MotorVehicles2023-01-012023-12-31036885242022-01-012022-12-3103688524core:ComputerEquipment2022-12-3103688524core:MotorVehicles2022-12-31036885242022-12-3103688524core:WithinOneYear2023-12-3103688524core:WithinOneYear2022-12-3103688524bus:PrivateLimitedCompanyLtd2023-01-012023-12-3103688524bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103688524bus:FRS1022023-01-012023-12-3103688524bus:AuditExemptWithAccountantsReport2023-01-012023-12-3103688524bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP