L3COS Limited 12805744 true 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Business and domestic software development Digita Accounts Production Advanced 6.30.9574.0 true true true 12805744 2023-01-01 2023-12-31 12805744 2023-12-31 12805744 bus:OrdinaryShareClass1 2023-12-31 12805744 core:RetainedEarningsAccumulatedLosses 2023-12-31 12805744 core:ShareCapital 2023-12-31 12805744 core:CurrentFinancialInstruments 2023-12-31 12805744 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 12805744 core:OtherResidualIntangibleAssets 2023-12-31 12805744 bus:FRS102 2023-01-01 2023-12-31 12805744 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12805744 bus:FullAccounts 2023-01-01 2023-12-31 12805744 bus:RegisteredOffice 2023-01-01 2023-12-31 12805744 bus:ChiefExecutive 2023-01-01 2023-12-31 12805744 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12805744 bus:EntityNoLongerTradingButTradedInPast 2023-01-01 2023-12-31 12805744 bus:Consolidated 2023-01-01 2023-12-31 12805744 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12805744 core:ComputerSoftware 2023-01-01 2023-12-31 12805744 1 2023-01-01 2023-12-31 12805744 countries:England 2023-01-01 2023-12-31 12805744 2022-12-31 12805744 core:OtherResidualIntangibleAssets 2022-12-31 12805744 2022-12-31 12805744 bus:OrdinaryShareClass1 2022-12-31 12805744 core:RetainedEarningsAccumulatedLosses 2022-12-31 12805744 core:ShareCapital 2022-12-31 12805744 core:CurrentFinancialInstruments 2022-12-31 12805744 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 12805744 core:OtherResidualIntangibleAssets 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12805744

L3COS Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

L3COS Limited

Profit and Loss Account for the Year Ended 31 December 2023

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

L3COS Limited

(Registration number: 12805744)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

3

814,393

814,393

Creditors: Amounts falling due within one year

4

(892,820)

(892,820)

Net liabilities

 

(78,427)

(78,427)

Capital and reserves

 

Called up share capital

5

1

1

Retained earnings

(78,428)

(78,428)

Shareholders' deficit

 

(78,427)

(78,427)

For the financial 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.

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 5 September 2024 and signed on its behalf by:
 

.........................................
Dr Zurab Tsitsuashvili
Chief executive

 

L3COS Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 Stratford Place
London
W1C 1AX
England

These financial statements were authorised for issue by the Board on 5 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software development

Equal annual instalments in line with useful life of software

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

L3COS Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

814,393

814,393

At 31 December 2023

814,393

814,393

Amortisation

Carrying amount

At 31 December 2023

814,393

814,393

At 31 December 2022

814,393

814,393

The company is in the process of developing a software product. Once revenue is being generated the director will assess the period revenue will be generated and amortise costs over that period.

4

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

2,433

2,433

Amounts due to related parties

890,387

890,387

 

892,820

892,820

 

L3COS Limited

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

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

New shares allotted

During the year - NewRow_0 having an aggregate nominal value of £Nil were allotted for an aggregate consideration of .

6

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

2,433

2,433

7

Parent and ultimate parent undertaking

Shareholder

 The company's immediate parent is L3COS LLC, incorporated in United States.

  These financial statements are available upon request from 16192 Coastal Highway
Lewes
Delaware
United States
19958