Language Services Associates (Europe) Limited |
Registered Number:07259689 |
For the year ended 31 December 2023
England and Wales
Audited Financial Statements
For the year ended 31 December 2023
Language Services Associates (Europe) Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
Language Services Associates (Europe) Limited
Statement of Financial Position
2022
2023
Trade and other receivables |
623
19
2
19,645
Cash and cash equivalents |
20,664
20,683
20,268
Trade and other payables: amounts falling due within one |
year |
(457,193)
(537,691)
3
(436,925)
(517,008)
Net current liabilities
Total assets less current liabilities |
(517,008)
(436,925)
(517,008)
Net liabilities
(436,925)
100
100
(517,214)
(437,131)
106
106
(517,008)
(436,925)
Shareholders' funds
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Ms L K T Schriver Director |
These financial statements were approved and authorised for issue by the Board on 20 June 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 December 2023
Language Services Associates (Europe) Limited
Notes to the Financial Statements
Statutory Information
Language Services Associates (Europe) Limited is a private limited company, limited by shares, domiciled in England |
and Wales, registration number 07259689. |
28-29 New Road
Kidderminster
England
DY10 1AF
The presentation currency is £ sterling. |
Monetary amounts in these financial statements are rounded to the nearest £.
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
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 at the date of transaction. Exchange rate 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 for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and |
Section 12 'Other Financial Instruments Issues' of FRS 102 1A to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes |
party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, |
when there is a legally enforceable right to set off the recognised amounts and there is an intention to |
settle on a net basis or to realise the asset and settle the liability simultaneously. |
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For the year ended 31 December 2023
Language Services Associates (Europe) Limited
Notes to the Financial Statements Continued
Going Concern
At the time of approving the financial statements, the director has received assurance that the parent company will |
continue to provide adequate resources to enable the company to continue in operational existence for a period of at |
least twelve months from the date of approval to the financial statements if required. Thus the director continues to |
adopt the going concern basis of accounting in preparing the financial statements. |
2. Trade and other receivables |
2022
2023
19
623
3. Trade and other payables: amounts falling due within one year |
2022
2023
Amounts owed to group undertaking and undertaking in which the |
company has a participating interest |
533,811
451,328
Taxation and social security |
2,364
4,730
1,516
1,135
537,691
457,193
4. Related party transactions |
At 31st December 2023, the company owed Language Services Associates Inc £533,811, which includes an |
additional advance of £83,000 during the year. |
5. Average number of persons employed |
During the year the average number of employees was 1 (2022 : 1)
6. Parent-subsidiary relationship |
The ultimate controlling party is Language Services Associates Inc. The company's parent company is Language Services Associates Inc, of 455 Business Center Drive, Suite 100, Horsham, PA 19044, USA. This company is incorporated in the United States of America. |
7. Disclosure under section 444(5B) of the Companies Act 2006 |
The Report of the Independent Auditor is unqualified. |
Elizabeth Needham ACA CTA (VAT) (Senior Statutory Auditor) |
Kendall Wadley LLP
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