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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS
All of the members of Langard Lifford Hall Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 03790803
LANGARD LIFFORD HALL LIMITED
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
LANGARD LIFFORD HALL LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
80,780
98,320
Tangible assets
6
25,052
33,692
------------
------------
105,832
132,012
Current assets
Stocks
263,020
281,743
Debtors
455,685
463,599
Cash at bank and in hand
283,049
438,642
--------------
--------------
1,001,754
1,183,984
Creditors: amounts falling due within one year
284,847
317,630
--------------
--------------
Net current assets
716,907
866,354
------------
------------
Total assets less current liabilities
822,739
998,366
------------
------------
Net assets
822,739
998,366
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
821,739
997,366
------------
------------
Shareholders funds
822,739
998,366
------------
------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
LANGARD LIFFORD HALL LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 14 February 2024 , and are signed on behalf of the board by:
DJ Hanby
KS Chambers
Director
Director
Company registration number: 03790803
LANGARD LIFFORD HALL LIMITED
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General Information
The company is a private company limited by shares, registered in England. The address of the registered office is Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN.
2. Statement of Compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents the amount of gross fees (excluding value added tax) derived from the provision of completed work for clients during the year.
Income tax
Deferred taxation is provided on the liability method in respect of the taxation effect of all timing differences to the extent that tax liabilities are likely to crystallise in the foreseeable future.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 46 (2022: 47 ).
5. Intangible Assets
£
Cost
At 1 January 2023 and 31 December 2023
350,800
------------
Amortisation
At 1 January 2023
252,480
Charge for the year
17,540
------------
At 31 December 2023
270,020
------------
Carrying amount
At 31 December 2023
80,780
------------
At 31 December 2022
98,320
------------
6. Tangible Assets
£
Cost
At 1 January 2023 and 31 December 2023
372,643
------------
Depreciation
At 1 January 2023
338,951
Charge for the year
8,640
------------
At 31 December 2023
347,591
------------
Carrying amount
At 31 December 2023
25,052
------------
At 31 December 2022
33,692
------------
7. Operating Leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Later than 1 year and not later than 5 years
6,528
6,528
------------
------------