REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
LAPCO CONSULTANCY LTD |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
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 |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
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. |