Company registration number 12797096 (England and Wales)
Loan Corporation Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 November 2023
PAGES FOR FILING WITH REGISTRAR
Loan Corporation Ltd
Company Information
Directors
M Robinson
P Peacock
Company number
12797096
Registered office
Ropergate House
Ropergate
Pontefract
West Yorkshire
United Kingdom
WF8 1JY
Accountants
B M Howarth Ltd
Metic House
Ripley Drive
Normanton
West Yorkshire
WF6 1QT
Bankers
Starling Bank Limited
5th Floor
London Fruit and Wool Exchange
1 Duval Square
London
EC2M 2PP
Loan Corporation Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Loan Corporation Ltd
Statement of financial position
as at 30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Stocks
9,950
9,950
Debtors
33
5,738
Cash at bank and in hand
291
24
10,274
15,712
Creditors: amounts falling due within one year
(128,571)
(108,703)
Net current liabilities
(118,297)
(92,991)
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
(118,300)
(92,994)
Total equity
(118,297)
(92,991)
For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 30 August 2024 and are signed on its behalf by:
M Robinson
Director
Company registration number 12797096 (England and Wales)
Loan Corporation Ltd
Notes to the Financial Statements
for the year ended 30 November 2023
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
2
Company information
Loan Corporation Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Ropergate House, Ropergate, Pontefract, West Yorkshire, United Kingdom, WF8 1JY.