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Company Registration No. 10385164 (England and Wales)
LA Personal Products Ltd Unaudited accounts for the year ended 31 December 2023
LA Personal Products Ltd Unaudited accounts Contents
Page
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LA Personal Products Ltd Company Information for the year ended 31 December 2023
Directors
Lucy Read Bettina Wonsag Daniel John McQuade
Company Number
10385164 (England and Wales)
Registered Office
Suite 1-3 Hop Exchange 24 Southwark Street London SE1 1TY England
Accountants
Accounts and Legal Consultants Ltd Suite 1-3 The Hop Exchange 24 Southwark Street London SE1 1TY
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LA Personal Products Ltd Accountants' report
Accountants' report to the board of directors of LA Personal Products Ltd on the preparation of the unaudited statutory accounts 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 accounts of LA Personal Products Ltd for the year ended 31 December 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of LA Personal Products Ltd, 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 LA Personal Products Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LA Personal Products Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LA Personal Products Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of LA Personal Products Ltd. You consider that LA Personal Products Ltd 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 LA Personal Products Ltd. 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 accounts.
Accounts and Legal Consultants Ltd Suite 1-3 The Hop Exchange 24 Southwark Street London SE1 1TY 23 July 2024
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LA Personal Products Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,168 
492 
Current assets
Inventories
194,330 
263,589 
Debtors
192,279 
253,625 
Cash at bank and in hand
18,164 
90,409 
404,773 
607,623 
Creditors: amounts falling due within one year
(489,681)
(301,562)
Net current (liabilities)/assets
(84,908)
306,061 
Total assets less current liabilities
(83,740)
306,553 
Creditors: amounts falling due after more than one year
(14,302)
(24,188)
Net (liabilities)/assets
(98,042)
282,365 
Capital and reserves
Called up share capital
26,393 
26,393 
Share premium
1,627,991 
1,627,991 
Profit and loss account
(1,752,426)
(1,372,019)
Shareholders' funds
(98,042)
282,365 
For the year ending 31 December 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by
Lucy Read Director Company Registration No. 10385164
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LA Personal Products Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
LA Personal Products Ltd is a private company, limited by shares, registered in England and Wales, registration number 10385164. The registered office is Suite 1-3 Hop Exchange , 24 Southwark Street, London, SE1 1TY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Going concern
The financial statements have been prepared on a going concern basis. The Directors have prepared financial forecasts through to June 2024. In the light of these, together with their understanding of the marketplace, products, risk and uncertainties, the Directors consider there to be sufficient resources to operate for the foreseeable future. The Board has concluded that the going concern assumption is appropriate in preparing these financial statements.
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LA Personal Products Ltd Notes to the Accounts for the year ended 31 December 2023
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2023
638 
Additions
942 
At 31 December 2023
1,580 
Depreciation
At 1 January 2023
146 
Charge for the year
266 
At 31 December 2023
412 
Net book value
At 31 December 2023
1,168 
At 31 December 2022
492 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
160,572 
195,548 
Accrued income and prepayments
20,817 
51,034 
Other debtors
10,890 
7,043 
192,279 
253,625 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,648 
10,648 
VAT
23,177 
2,144 
Trade creditors
153,784 
204,835 
Taxes and social security
23,104 
6,331 
Other creditors
36,959 
32,904 
Loans from directors
190,034 
- 
Accruals
51,975 
44,700 
489,681 
301,562 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
14,302 
24,188 
8
Average number of employees
During the year the average number of employees was 5 (2022: 4).
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