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Registration number: 12642261

Latam International Consultants Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Latam International Consultants Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Latam International Consultants Limited

(Registration number: 12642261)
Balance Sheet as at 31 December 2023

Note

2023
$

2022
$

Current assets

 

Debtors

4

637

84

Cash at bank and in hand

 

10,439

16,302

 

11,076

16,386

Creditors: Amounts falling due within one year

5

(11,120)

(15,360)

Net (liabilities)/assets

 

(44)

1,026

Capital and reserves

 

Called up share capital

6

1,131

1,131

Profit and loss account

(1,175)

(105)

Shareholders' (deficit)/funds

 

(44)

1,026

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.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

.........................................
V Villanueva
Director

 

Latam International Consultants 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 and Wales.

The address of its registered office is:
C/o Sterlings Ltd Lawford House
Albert Place
London
N3 1QA
England

These financial statements were authorised for issue by the Board on 18 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. The financial statements are prepared for the eighteen month period from 1 July 2021 to 31 December 2022. The company extended its reporting date to 31 December in order to align it with the calendar year. Previously the company was dormant.

The financial statements have been prepared in US Dollars ($), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest US Dollar ($).

With effect from 1 July 2021, the company's functional currency changed from Sterling (£) to US Dollars ($). Comparative information has been restated in US Dollars in accordance with FRS 102. The 2021 comparatives and associated notes have been retranslated from Pound Sterling to US Dollars using the procedures outlined below:
- assets were translated into US Dollars at closing rates of exchange;
- share capital was translated at historic rates of exchange; and
- differences resulting from the retranslation of the opening net assets have been recognised in other comprehensive income.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Latam International Consultants Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Debtors

Current

2023
$

2022
$

Other debtors

637

84

 

637

84

 

Latam International Consultants Limited

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

5

Creditors

Creditors: amounts falling due within one year

2023
$

2022
$

Due within one year

Accruals and deferred income

2,294

6,923

Other creditors

8,826

8,437

11,120

15,360

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

$

No.

$

Ordinary shares of £1 each

900

1,130

900

1,130

         

7

Related party transactions

Included in other creditors is an amount of $8,806 (2022: $8,417) payable to shareholders of the company. This amount is interest-free and repayable on demand.

Also included in other creditors is an amount of $20 (2022: $20) owed to a director of the company. This amount is interest-free and repayable on demand.