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REGISTERED NUMBER: 08493481 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2023

FOR

LL FINANCIAL SOLUTIONS LTD

LL FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08493481)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 7


LL FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08493481)

STATEMENT OF FINANCIAL POSITION
30 DECEMBER 2023

30.12.23 30.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,500 1,765
Investments 6 10 10
1,510 1,775

CURRENT ASSETS
Debtors 7 184,240 171,333
Cash at bank 101,838 93,466
286,078 264,799
CREDITORS
Amounts falling due within one year 8 (267,990 ) (214,536 )
NET CURRENT ASSETS 18,088 50,263
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,598

52,038

CREDITORS
Amounts falling due after more than one
year

9

(30,093

)

(35,648

)

PROVISIONS FOR LIABILITIES (314 ) (336 )
NET (LIABILITIES)/ASSETS (10,809 ) 16,054

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (10,810 ) 16,053
(10,809 ) 16,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2023 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.

LL FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08493481)

STATEMENT OF FINANCIAL POSITION - continued
30 DECEMBER 2023


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 26 September 2024 and were signed on its behalf by:





F H Rhys-Jones - Director


LL FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08493481)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023


1. STATUTORY INFORMATION

Ll Financial Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08493481

Registered office: Ll Estates Ltd
High Street
Rhuddlan
DENBIGHSHIRE
LL18 2UA

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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Estimated useful lives and residual values of fixed assets.

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

LL FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08493481)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation:
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery - 15% reducing balance method

Impairment of Fixed Assets:
A review for indicators of impairment is carried out at each reporting date, with recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purpose of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash- generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or group of assets.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

TAXATION
Taxation for the year comprises current and deferred 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 or deferred 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 statement of financial position date.


LL FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08493481)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 December 2022
and 30 December 2023 10,000
AMORTISATION
At 31 December 2022
and 30 December 2023 10,000
NET BOOK VALUE
At 30 December 2023 -
At 30 December 2022 -

LL FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08493481)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 31 December 2022
and 30 December 2023 6,600 1,887 8,487
DEPRECIATION
At 31 December 2022 4,835 1,887 6,722
Charge for year 265 - 265
At 30 December 2023 5,100 1,887 6,987
NET BOOK VALUE
At 30 December 2023 1,500 - 1,500
At 30 December 2022 1,765 - 1,765

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 31 December 2022
and 30 December 2023 10
NET BOOK VALUE
At 30 December 2023 10
At 30 December 2022 10

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.23 30.12.22
£    £   
Amounts owed by group undertakings 42,255 56,518
Other debtors 141,985 114,815
184,240 171,333

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.23 30.12.22
£    £   
Bank loans and overdrafts 5,555 5,555
Trade creditors - 306
Taxation and social security 43,240 52,724
Other creditors 219,195 155,951
267,990 214,536

LL FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08493481)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.12.23 30.12.22
£    £   
Bank loans 30,093 35,648

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 December 2023 and the period ended 30 December 2022:

30.12.23 30.12.22
£    £   
F H Rhys-Jones
Balance outstanding at start of year - 8
Amounts advanced 104,781 93,620
Amounts repaid (61,141 ) (93,628 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 43,640 -

N L Young
Balance outstanding at start of year - 1
Amounts advanced 71,402 72,220
Amounts repaid (62,922 ) (72,221 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,480 -

11. RELATED PARTY DISCLOSURES

Transactions with directors are under normal market conditions and/or not material.

12. POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statements by the board.