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REGISTERED NUMBER: 08958695 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

LAPCO CONSULTANCY LTD

LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAPCO CONSULTANCY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: T D Cecil
M G Coleman





SECRETARY: E A Sinclair





REGISTERED OFFICE: 3 The Courtyard
Shapwick
Bridgwater
Somerset
TA7 9LQ





REGISTERED NUMBER: 08958695 (England and Wales)





ACCOUNTANTS: LK Davies Limited
3 The Courtyard
Shapwick
Bridgwater
Somerset
TA7 9LQ

LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,596 4,795

CURRENT ASSETS
Debtors 5 18,915 39,807
Cash at bank 44,495 46,494
63,410 86,301
CREDITORS
Amounts falling due within one year 6 48,573 44,373
NET CURRENT ASSETS 14,837 41,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,433

46,723

CREDITORS
Amounts falling due after more than one year 7 6,459 11,295
NET ASSETS 11,974 35,428

CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 6,799 6,107
Retained earnings 5,173 29,319
11,974 35,428

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)

BALANCE SHEET - continued
31 JANUARY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





T D Cecil - Director


LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Lapco Consultancy Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Training & Consultancy
Revenue is recognised when training service is delivered or by reference to the stage of completion at the end of a accounting period.

Software services
Revenue is earned for the provision of services, per organisation and users associated with the organisation, over a contractual period. The customer is required to make payments to continue to benefit from the service. In the event that they cease paying they lose the legal right to continue to use the software. The company can restrict or stop the use of the software. Income is recognised on a straight line basis over the term of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

Current 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Share based payments
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest.

LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Other reserves
The company maintains a share option reserve.

Costs
Software development costs

Qualify for capitalisation when can demonstrate:
technical feasibility of completing the development so that a first version (V1) will be available to use or licence
intention to complete the development of V1 so available to use or licence
ability to use or licence the intangible
how the intangible asset will generate probable future economic benefits
existence of a market for the intangible asset
availability of adequate technical, financial and other resources to complete the development
ability to measure reliably the expenditure attributable to the development of the intangible asset.

Commercial viability of new products is not proven until all high risk development issues are resolved through testing and resolution of prelaunch versions. This occurs just before software service is made available for . licence. Accordingly development costs are not capitalised.

Expenditure incurred to enhance a software service after general release is expensed to profit and loss account as incurred and included in research and development costs in the profit and loss account.

Consultancy

Costs incurred that are directly attributable to enhancements provided to customers are included in cost of sales consultancy.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 7,971
DEPRECIATION
At 1 February 2023 3,176
Charge for year 1,199
At 31 January 2024 4,375
NET BOOK VALUE
At 31 January 2024 3,596
At 31 January 2023 4,795

LAPCO CONSULTANCY LTD (REGISTERED NUMBER: 08958695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,915 32,500
Other debtors - 7,307
18,915 39,807

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,739 4,503
Trade creditors 3,676 3,000
Taxation and social security 2,061 391
Other creditors 38,097 36,479
48,573 44,373

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,459 11,295

8. SHARE-BASED PAYMENT TRANSACTIONS

During the year ended 31 January 2021 the company established a EMI Share Option Scheme and granted options over 7,778 D ordinary shares. The options vest over a four year period based on the performance target achievement. At the end of the financial year options over 7,778 shares were exercisable.