Company Registration No. 11692693 (England and Wales)
LETSLOCALISE LIMITED
Unaudited accounts
for the year ended 30 November 2023
LETSLOCALISE LIMITED
Unaudited accounts
Contents
LETSLOCALISE LIMITED
Company Information
for the year ended 30 November 2023
Directors
Gaurav Garg
Divya Garg
Company Number
11692693 (England and Wales)
Registered Office
1a Bearwood Road
Barkham, Wokingham
RG41 4TB
GB
Accountants
CoreAdviz Digital Finance Ltd
10 Daventer Drive
Stanmore
HA7 3TJ
LETSLOCALISE LIMITED
Statement of financial position
as at 30 November 2023
Intangible assets
162,233
162,233
Tangible assets
58,412
70,739
Cash at bank and in hand
84,685
62,544
Creditors: amounts falling due within one year
(239,189)
(9,683)
Net current (liabilities)/assets
(74,476)
196,059
Total assets less current liabilities
146,169
429,031
Creditors: amounts falling due after more than one year
(27,083)
(31,240)
Net assets
119,086
397,791
Called up share capital
384,795
360,795
Share premium
498,908
498,908
Capital contribution reserve
42,810
66,810
Profit and loss account
(807,427)
(528,722)
Shareholders' funds
119,086
397,791
For the year ending 30 November 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 21 August 2024 and were signed on its behalf by
Gaurav Garg
Director
Company Registration No. 11692693
LETSLOCALISE LIMITED
Notes to the Accounts
for the year ended 30 November 2023
LETSLOCALISE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11692693. The registered office is 1a Bearwood Road, Barkham, Wokingham, RG41 4TB, GB.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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. For P&M assets where they are under construction, useful life has not been determined.
Fixtures & fittings
Over 5 years
Computer equipment
Over 4 years and mobile devices 2 years
Expenditure on research and development is written off in the year in which it is incurred.
Some of the eligible R&D costs were capitalised as intangible fixed assets
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.
Intangible fixed assets (including purchased goodwill and patents) are usually included at cost less accumulated amortisation.
For the last two years during the development phase, KnowHow and software are built by Founders. Hence, no amortisation is been applied yet.
LETSLOCALISE LIMITED
Notes to the Accounts
for the year ended 30 November 2023
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Intangible fixed assets
Other
At 1 December 2022
162,233
At 30 November 2023
162,233
At 30 November 2023
162,233
At 30 November 2022
162,233
Other Intangible value is cost towards unpaid worked hours incurred during development phase of system infrastructure, software - knowHow built by founders. Since system infrastructure is in development stage of 1st year and hence amortisation / impairment has not been calculated this year.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
93,272
2,745
5,066
101,083
At 30 November 2023
93,272
2,745
5,066
101,083
At 1 December 2022
23,318
2,196
4,830
30,344
Charge for the year
11,659
549
119
12,327
At 30 November 2023
34,977
2,745
4,949
42,671
At 30 November 2023
58,295
-
117
58,412
At 30 November 2022
69,954
549
236
70,739
Amounts falling due within one year
Accrued income and prepayments
74,200
102,900
Amounts falling due after more than one year
LETSLOCALISE LIMITED
Notes to the Accounts
for the year ended 30 November 2023
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Creditors: amounts falling due within one year
2023
2022
Taxes and social security
223
3,100
Other creditors
124,323
6,277
Loans from directors
98,874
(1,004)
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Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).