Registered number: 06034951
Lida Consultants Limited
Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 31 December 2023
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Lida Consultants Limited
Company Information
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168 Shoreditch High Street
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168 Shoreditch High Street
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Lida Consultants Limited
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Lida Consultants Limited for the Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lida Consultants Limited for the year ended 31 December 2023 which comprise 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the director of Lida Consultants Limited in accordance with the terms of our engagement letter dated 22 August 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Lida Consultants Limited and state those matters that we have agreed to state to the director of Lida Consultants Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lida Consultants Limited and its director for our work or for this report.
It is your duty to ensure that Lida Consultants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lida Consultants Limited. You consider that Lida Consultants Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Lida Consultants 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 statutory financial statements.
Kreston Reeves LLP
Chartered Accountants
2nd Floor
168 Shoreditch High Street
London
E1 6RA
26 July 2024
Page 1
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Lida Consultants Limited
Registered number: 06034951
Balance sheet
As at 31 December 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 July 2024.
The notes on pages 3 to 7 form part of these financial statements.
Page 2
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Lida Consultants Limited
Notes to the financial statements
For the Year Ended 31 December 2023
The company is a private limited company, incorporated and domiciled in England & Wales. The company's registered office is at 2nd Floor, 168 Shoreditch High Street, London E1 6RA.
The company's principal activity during the year was that of management consultants in the sports.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts.
The director has prepared these financial statements on the going concern basis.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Page 3
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Lida Consultants Limited
Notes to the financial statements
For the Year Ended 31 December 2023
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short term debtors are measured at the transaction price.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 2 (2022 - 2).
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Page 4
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Lida Consultants Limited
Notes to the financial statements
For the Year Ended 31 December 2023
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Charge for the year on owned assets
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Charge for the year on financed assets
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Cash and cash equivalents
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Page 5
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Lida Consultants Limited
Notes to the financial statements
For the Year Ended 31 December 2023
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Page 6
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Lida Consultants Limited
Notes to the financial statements
For the Year Ended 31 December 2023
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Hire purchase and finance leases
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Minimum lease payments under hire purchase fall due as follows:
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Allotted, called up and fully paid
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6 (2022 - 6) Ordinary shares of £1 each
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Related party transactions
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During the year the company paid dividends amounting to £Nil (2022 - £13,900) to the director, W L Rosenior. As at 31 December 2023, W L Rosenior owed £29,462 (2022 - £30,904) to the company.
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Through his 100% shareholding, Mr WL Rosenior controls the company.
Page 7
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