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REGISTERED NUMBER: 07825204 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LIPKIN LIMITED

LIPKIN LIMITED (REGISTERED NUMBER: 07825204)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LIPKIN LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr M D Paun
Ms S Paun





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 07825204 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

LIPKIN LIMITED (REGISTERED NUMBER: 07825204)

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 130,000 146,250
Tangible assets 5 161 215
130,161 146,465

CURRENT ASSETS
Stocks 16,500 15,995
Debtors 20,526 106,251
Cash at bank and in hand 295,027 127,572
332,053 249,818
CREDITORS
Amounts falling due within one year 123,519 104,349
NET CURRENT ASSETS 208,534 145,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

338,695

291,934

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 338,595 291,834
SHAREHOLDERS' FUNDS 338,695 291,934

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

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

LIPKIN LIMITED (REGISTERED NUMBER: 07825204)

ABRIDGED BALANCE SHEET - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 June 2024 and were signed on its behalf by:





Mr M D Paun - Director


LIPKIN LIMITED (REGISTERED NUMBER: 07825204)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Lipkin 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 represents net invoiced sales of goods and prescription services, excluding value added tax

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

LIPKIN LIMITED (REGISTERED NUMBER: 07825204)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 325,000
AMORTISATION
At 1 January 2023 178,750
Amortisation for year 16,250
At 31 December 2023 195,000
NET BOOK VALUE

At 31 December 2023 130,000
At 31 December 2022 146,250

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 5,098
DEPRECIATION
At 1 January 2023 4,883
Charge for year 54
At 31 December 2023 4,937
NET BOOK VALUE
At 31 December 2023 161
At 31 December 2022 215

LIPKIN LIMITED (REGISTERED NUMBER: 07825204)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr M D Paun
Balance outstanding at start of year 91,514 -
Amounts advanced - 91,514
Amounts repaid (91,514 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 91,514

The above balance has been repaid since the balance sheet date.

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £42,770 to Mr M D Paun, a director (2022: £91,515) the director owed the company.