Registered number
06473209
L & F Training Ltd
Filleted Accounts
31 July 2023
L & F Training Ltd
Registered number: 06473209
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 89,117 89,117
Tangible assets 4 12,085 6,483
101,202 95,600
Current assets
Stocks 2,251 3,695
Debtors 5 294,139 435,039
Cash at bank and in hand 45,366 24,229
341,756 462,963
Creditors: amounts falling due within one year 6 (254,104) (366,025)
Net current assets 87,652 96,938
Net assets 188,854 192,538
Capital and reserves
Called up share capital 9 9
Profit and loss account 188,845 192,529
Shareholders' funds 188,854 192,538
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Rukhsana
Director
Approved by the board on 1 May 2024
L & F Training Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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 work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 20
3 Intangible fixed assets £
Business Acquisition
Cost
At 1 August 2022 89,117
At 31 July 2023 89,117
Amortisation
At 31 July 2023 -
Net book value
At 31 July 2023 89,117
At 31 July 2022 89,117
4 Tangible fixed assets
Plant and machinery etc Fixtures & Fittings Total
£ £ £
Cost
At 1 August 2022 18,905 42,787 61,692
Additions - 6,494 6,494
At 31 July 2023 18,905 49,281 68,186
Depreciation
At 1 August 2022 13,503 41,706 55,209
Charge for the year 579 313 892
At 31 July 2023 14,082 42,019 56,101
Net book value
At 31 July 2023 4,823 7,262 12,085
At 31 July 2022 5,402 1,081 6,483
5 Debtors 2023 2022
£ £
Trade debtors 133,080 133,080
Intercompany Loan - L & Z Properties Ltd 113,100 235,000
Other debtors 47,959 66,959
294,139 435,039
6 Creditors: amounts falling due within one year 2023 2022
£ £
Vista Care Ltd 250,671 254,371
Trade creditors 31 31
Taxation and social security costs 3,400 40,723
Directors Loan 2 70,900
254,104 366,025
7 Other information
L & F Training Ltd is a private company limited by shares and incorporated in England. Its registered office is:
106 Church Street
Highbridge
Somerset
TA9 3HW
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