Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3182023-04-01falsefalse8No description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 7554325 2023-04-01 2024-03-31 7554325 2022-04-01 2023-03-31 7554325 2024-03-31 7554325 2023-03-31 7554325 c:Director2 2023-04-01 2024-03-31 7554325 d:PlantMachinery 2023-04-01 2024-03-31 7554325 d:PlantMachinery 2024-03-31 7554325 d:PlantMachinery 2023-03-31 7554325 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 7554325 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 7554325 d:MotorVehicles 2023-04-01 2024-03-31 7554325 d:MotorVehicles 2024-03-31 7554325 d:MotorVehicles 2023-03-31 7554325 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 7554325 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 7554325 d:OfficeEquipment 2023-04-01 2024-03-31 7554325 d:OfficeEquipment 2024-03-31 7554325 d:OfficeEquipment 2023-03-31 7554325 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 7554325 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 7554325 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 7554325 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 7554325 d:CurrentFinancialInstruments 2024-03-31 7554325 d:CurrentFinancialInstruments 2023-03-31 7554325 d:Non-currentFinancialInstruments 2024-03-31 7554325 d:Non-currentFinancialInstruments 2023-03-31 7554325 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 7554325 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 7554325 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 7554325 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 7554325 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 7554325 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 7554325 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 7554325 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 7554325 d:ShareCapital 2024-03-31 7554325 d:ShareCapital 2023-03-31 7554325 d:RetainedEarningsAccumulatedLosses 2024-03-31 7554325 d:RetainedEarningsAccumulatedLosses 2023-03-31 7554325 c:FRS102 2023-04-01 2024-03-31 7554325 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 7554325 c:FullAccounts 2023-04-01 2024-03-31 7554325 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 7554325 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 7554325 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 7554325 2 2023-04-01 2024-03-31 7554325 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 7554325 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 7554325 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 7554325 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 7554325 d:LeasedAssetsHeldAsLessee 2024-03-31 7554325 d:LeasedAssetsHeldAsLessee 2023-03-31 7554325 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 7554325









L&N PLATFORMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
L&N PLATFORMS LIMITED
REGISTERED NUMBER: 7554325

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
406,746
513,189

  
406,746
513,189

Current assets
  

Debtors: amounts falling due within one year
 5 
379,968
291,288

Cash at bank and in hand
 6 
11,706
2,477

  
391,674
293,765

Creditors: amounts falling due within one year
 7 
(419,467)
(317,444)

Net current liabilities
  
 
 
(27,793)
 
 
(23,679)

Total assets less current liabilities
  
378,953
489,510

Creditors: amounts falling due after more than one year
 8 
(206,772)
(317,608)

Provisions for liabilities
  

Deferred tax
 11 
(119,092)
(115,278)

  
 
 
(119,092)
 
 
(115,278)

Net assets
  
53,089
56,624


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
53,085
56,620

  
53,089
56,624


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
L&N PLATFORMS LIMITED
REGISTERED NUMBER: 7554325
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 September 2024.






N. A. Francis
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
L&N PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

L & N Platforms Limited is a members limited liability company incorporated in England with its registered office at Stonepitts Farm, Chart Seal, Sevenoaks, Kent TN15 0ER.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
L&N PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
L&N PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25% of residual value
Motor vehicles
-
25% of residual value
Office equipment
-
25% of residual value

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
L&N PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).

Page 6

 
L&N PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
19,658
1,512,709
14,662
1,547,029


Additions
1,161
28,994
833
30,988


Disposals
-
(150,000)
-
(150,000)



At 31 March 2024

20,819
1,391,703
15,495
1,428,017



Depreciation


At 1 April 2023
12,310
1,010,373
11,157
1,033,840


Charge for the year on owned assets
2,127
18,396
1,085
21,608


Charge for the year on financed assets
-
112,022
-
112,022


Disposals
-
(146,199)
-
(146,199)



At 31 March 2024

14,437
994,592
12,242
1,021,271



Net book value



At 31 March 2024
6,382
397,111
3,253
406,746



At 31 March 2023
7,348
502,336
3,505
513,189

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
345,729
428,757

345,729
428,757


5.


Debtors

2024
2023
£
£


Trade debtors
165,163
111,145

Other debtors
200,968
167,975

Prepayments and accrued income
13,837
12,168
Page 7

 
L&N PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.Debtors (continued)


379,968
291,288


Included within other debtors due within one year are loans to directors amounting to £166,115 (2023 - £145,274). Amounts repaid in the year totalled £56,620 (2023- £8,170). The main conditions were as follows:
The loans bear interest at 2.5% and are repayable on demand.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
11,706
2,477

Less: bank overdrafts
(48,478)
(16,291)

(36,772)
(13,814)



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
48,478
16,291

Bank loans
11,800
11,800

Trade creditors
47,626
40,811

Corporation tax
76,005
8,381

Other taxation and social security
91,117
68,141

Obligations under finance lease and hire purchase contracts
133,477
157,323

Other creditors
7,208
11,059

Accruals and deferred income
3,756
3,638

419,467
317,444


Page 8

 
L&N PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
20,712
30,166

Net obligations under finance leases and hire purchase contracts
186,060
287,442

206,772
317,608


The following liabilities were secured:

2024
2023
£
£



Net obligations under finance leases and hire purchase contracts
319,537
444,765

319,537
444,765

Details of security provided:

Motor vehicles owned by the company with a total net book value of £345,729 (2023 - £428,757).

Page 9

 
L&N PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
11,800
11,800


11,800
11,800

Amounts falling due 1-2 years

Bank loans
11,800
11,800


11,800
11,800

Amounts falling due 2-5 years

Bank loans
8,912
18,366


8,912
18,366


32,512
41,966



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Between 1-5 years
159,511
194,963

159,511
194,963


11.


Deferred taxation

Page 10

 
L&N PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
11.Deferred taxation (continued)




2024


£






At beginning of year
(115,278)


Charged to profit or loss
(3,814)



At end of year
(119,092)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(119,091)
(115,278)

(119,091)
(115,278)


It is expected that the following reversals will be made in the year commencing 1 April 2024 - accelerated capital allowances £29,884.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,864 (2023 - £5,107). Contributions totalling £2,111 (2023 - £3,227) were payable to the fund at the balance sheet date.

 
Page 11