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Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Letterland International Limited

Letterland International Limited (Registered number: 01540779)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Letterland International Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs E H Wendon
J M Wendon
J P Wendon
T M Wendon
Mrs A C Wendon





SECRETARY: Mrs E H Wendon





REGISTERED OFFICE: 8/10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 01540779 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Letterland International Limited (Registered number: 01540779)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,000 12,000
Property, plant and equipment 5 27,763 23,713
39,763 35,713

CURRENT ASSETS
Inventories 6 565,730 561,202
Debtors 7 1,858,724 2,407,481
Cash at bank and in hand 2,584,277 2,392,663
5,008,731 5,361,346
CREDITORS
Amounts falling due within one year 8 803,307 1,179,855
NET CURRENT ASSETS 4,205,424 4,181,491
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,245,187

4,217,204

CAPITAL AND RESERVES
Called up share capital 11 5,000 5,000
Retained earnings 4,240,187 4,212,204
SHAREHOLDERS' FUNDS 4,245,187 4,217,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2024 and were signed on its behalf by:





J P Wendon - Director


Letterland International Limited (Registered number: 01540779)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Letterland International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods dispatched in the period, excluding VAT. Where software licences are sold the revenue is allocated equally over the period of the licence.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual property are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Letterland International Limited (Registered number: 01540779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Intellectual
property
£   
COST
At 1 January 2023
and 31 December 2023 12,000
NET BOOK VALUE
At 31 December 2023 12,000
At 31 December 2022 12,000

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 10,022 98,202 108,224
Additions 1,021 17,381 18,402
Disposals - (1,748 ) (1,748 )
At 31 December 2023 11,043 113,835 124,878
DEPRECIATION
At 1 January 2023 7,507 77,004 84,511
Charge for year 801 13,333 14,134
Eliminated on disposal - (1,530 ) (1,530 )
At 31 December 2023 8,308 88,807 97,115
NET BOOK VALUE
At 31 December 2023 2,735 25,028 27,763
At 31 December 2022 2,515 21,198 23,713

6. INVENTORIES
2023 2022
£    £   
Stocks 565,730 561,202

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,594,176 2,119,906
Other debtors 164 -
VAT 12,505 51,799
Deferred tax asset - 27,203
Accrued income 91,191 47,661
Prepayments 160,688 160,912
1,858,724 2,407,481

Letterland International Limited (Registered number: 01540779)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 90,106 133,344
Tax 104,438 204,767
Social security and other taxes 14,209 13,417
Other creditors 1,764 1,729
Directors' current accounts - 11,879
Deferred income 417,631 451,446
Accrued expenses 175,159 363,273
803,307 1,179,855

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 59,925 60,807
Between one and five years - 17,409
59,925 78,216

10. DEFERRED TAX
£   
Balance at 1 January 2023 (27,203 )
Charge to Statement of Income and Retained Earnings during year 27,203
Balance at 31 December 2023 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary £1 5,000 5,000