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Registered number: 11544054
LP BIRMINGHAM LIMITED
Unaudited Financial Statements
For The Year Ended 31 October 2023
WK & CO ACCOUNTANTS LIMITED
Chartered Certified Accountants
28 Blackwood Road
Sutton Coldfield
B74 3PH
Unaudited Financial Statements
Contents
Page
Company Information 1
Accountants' Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—7
Page 1
Company Information
Directors Mr Huzaifa Masood
Mr Asaf Munir
Company Number 11544054
Registered Office 28 Blackwood Road
Sutton Coldfield
B74 3PH
Business 267 Ladypool Road
Sparkbrook
Birmingham
West Midlands
B12 8LF
Accountants WK & CO ACCOUNTANTS LIMITED
Chartered Certified Accountants
28 Blackwood Road
Sutton Coldfield
B74 3PH
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Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of LP BIRMINGHAM LIMITED For The Year Ended 31 October 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LP BIRMINGHAM LIMITED which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of LP BIRMINGHAM LIMITED , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of LP BIRMINGHAM LIMITED and state those matters that we have agreed to state to the directors of LP BIRMINGHAM LIMITED , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LP BIRMINGHAM LIMITED and its directors as a body for our work or for this report.
It is your duty to ensure that LP BIRMINGHAM LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of LP BIRMINGHAM LIMITED . You consider that LP BIRMINGHAM LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of LP BIRMINGHAM LIMITED . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
22/07/2024
WK & CO ACCOUNTANTS LIMITED
Chartered Certified Accountants
28 Blackwood Road
Sutton Coldfield
B74 3PH
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Page 3
Balance Sheet
Registered number: 11544054
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 625
Tangible Assets 5 22,127 23,871
22,127 24,496
CURRENT ASSETS
Stocks 6 4,250 3,450
Debtors 7 56,265 46,869
Cash at bank and in hand 36,527 88,103
97,042 138,422
Creditors: Amounts Falling Due Within One Year 8 (161,053 ) (159,712 )
NET CURRENT ASSETS (LIABILITIES) (64,011 ) (21,290 )
TOTAL ASSETS LESS CURRENT LIABILITIES (41,884 ) 3,206
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,383 ) (2,383 )
NET (LIABILITIES)/ASSETS (44,267 ) 823
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (44,367 ) 723
SHAREHOLDERS' FUNDS (44,267) 823
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For the year ending 31 October 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 22 July 2024 and were signed on its behalf by:
Mr Asaf Munir
Director
22/07/2024
The notes on pages 5 to 7 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
LP BIRMINGHAM LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11544054 . The registered office is 28 Blackwood Road, Sutton Coldfield, B74 3PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are franchise costs. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reduing balance
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2022: 21)
22 21
4. Intangible Assets
Other
£
Cost
As at 1 November 2022 3,125
As at 31 October 2023 3,125
Amortisation
As at 1 November 2022 2,500
Provided during the period 625
As at 31 October 2023 3,125
Net Book Value
As at 31 October 2023 -
As at 1 November 2022 625
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2022 40,225
Additions 2,161
As at 31 October 2023 42,386
Depreciation
As at 1 November 2022 16,354
Provided during the period 3,905
As at 31 October 2023 20,259
...CONTINUED
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Net Book Value
As at 31 October 2023 22,127
As at 1 November 2022 23,871
6. Stocks
2023 2022
£ £
Stock 4,250 3,450
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 9,242 7,496
Other debtors 47,023 39,373
56,265 46,869
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 32,548 52,439
Other creditors 57,208 77,994
Taxation and social security 71,297 29,279
161,053 159,712
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
During the year, total dividends of £ nil (2022 - £16,0000) were paid to the directors.
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