1 January 2023 false No description of principal activity Taxfiler 2024.5 06945173business:PrivateLimitedCompanyLtd2023-01-012023-12-31 069451732022-12-31 069451732023-01-012023-12-31 06945173business:AuditExempt-NoAccountantsReport2023-01-012023-12-31 06945173business:FilletedAccounts2023-01-012023-12-31 069451732023-12-31 06945173business:Director12023-01-012023-12-31 06945173business:Director22023-01-012023-12-31 06945173business:Director32023-01-012023-12-31 06945173business:Director42023-01-012023-12-31 06945173business:RegisteredOffice2023-01-012023-12-31 069451732022-12-31 06945173core:WithinOneYear2023-12-31 06945173core:WithinOneYear2022-12-31 06945173core:AfterOneYear2023-12-31 06945173core:AfterOneYear2022-12-31 06945173core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 06945173core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 06945173core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 06945173core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 06945173core:PreviouslyStatedAmount2023-12-31 06945173core:PreviouslyStatedAmount2022-12-31 06945173business:SmallEntities2023-01-012023-12-31 06945173countries:EnglandWales2023-01-012023-12-31 06945173core:FurnitureFittings2023-01-012023-12-31 06945173core:ComputerEquipment2023-01-012023-12-31 06945173core:IntangibleAssetsOtherThanGoodwill2022-12-31 06945173core:IntangibleAssetsOtherThanGoodwill2023-12-31 06945173core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31 06945173core:PlantMachinery2022-12-31 06945173core:ComputerEquipment2022-12-31 06945173core:PlantMachinery2023-01-012023-12-31 06945173core:PlantMachinery2023-12-31 06945173core:ComputerEquipment2023-12-31 06945173core:WithinOneYear2023-01-012023-12-31 069451732022-07-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. 06945173 (England and Wales)
L2P Enterprise Limited Unaudited accounts for the year ended 31 December 2023
L2P Enterprise Limited Unaudited accounts Contents
Page
- 2 -
L2P Enterprise Limited Company Information for the year ended 31 December 2023
Directors
Dr Patrick William Doyle James Frederick McLaughlin Colin Anthony Wilkinson Simon Forrest
Company Number
06945173 (England and Wales)
Registered Office
78 York Street London W1H 1DP UK
- 3 -
L2P Enterprise Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
72,824 
99,350 
Tangible assets
28,249 
12,642 
101,073 
111,992 
Current assets
Debtors
1,013,596 
795,974 
Cash at bank and in hand
320,252 
306,765 
1,333,848 
1,102,739 
Creditors: amounts falling due within one year
(1,560,875)
(1,175,162)
Net current liabilities
(227,027)
(72,423)
Total assets less current liabilities
(125,954)
39,569 
Creditors: amounts falling due after more than one year
- 
(27,715)
Provisions for liabilities
Deferred tax
(1,494)
(1,494)
Net (liabilities)/assets
(127,448)
10,360 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(127,458)
10,350 
Shareholders' funds
(127,448)
10,360 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
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
Colin Anthony Wilkinson Director Company Registration No. 06945173
- 4 -
L2P Enterprise Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
L2P Enterprise Limited is a private company, limited by shares, registered in England and Wales, registration number 06945173. The registered office is 78 York Street, London, W1H 1DP, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on Reducing balance basis
Computer equipment
25% on Reducing balance basis
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
- 5 -
L2P Enterprise Limited Notes to the Accounts for the year ended 31 December 2023
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements: Determine whether there are indicators of impairment of the company's intangible fixed assets and tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty: Tangible fixed assets (note 5) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
530,515 
At 31 December 2023
530,515 
Amortisation
At 1 January 2023
431,165 
Charge for the year
26,526 
At 31 December 2023
457,691 
Net book value
At 31 December 2023
72,824 
At 31 December 2022
99,350 
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
6,192 
37,756 
43,948 
Additions
21,046 
1,202 
22,248 
At 31 December 2023
27,238 
38,958 
66,196 
Depreciation
At 1 January 2023
878 
30,428 
31,306 
Charge for the year
4,651 
1,990 
6,641 
At 31 December 2023
5,529 
32,418 
37,947 
Net book value
At 31 December 2023
21,709 
6,540 
28,249 
At 31 December 2022
5,314 
7,328 
12,642 
- 6 -
L2P Enterprise Limited Notes to the Accounts for the year ended 31 December 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
796,469 
618,835 
Accrued income and prepayments
215,427 
177,139 
Other debtors
1,700 
- 
1,013,596 
795,974 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
21,241 
VAT
238,053 
140,332 
Trade creditors
9,244 
33,900 
Taxes and social security
(136,237)
(21,228)
Other creditors
164,121 
122,952 
Loans from directors
- 
25,369 
Deferred income
1,285,694 
852,596 
1,560,875 
1,175,162 
The company had entered into a coronavirus bounce back loan agreement for a facility of £50,000 which was fully drawn down on 20 October 2020. The loan bore interest at 2.5% pa. The loan was unsecured and repayable in monthly instalments from December 2021, with the final instalment originally due in December 2026. However during the year the loan has been repaid in full. The company also held an additional bank loan which was secured against the assets of the company with a fixed and floating charge. The loan bore interest at a fixed rate of 4.85% and a variable rate based on the bank of England base rate. The loan was repayable in monthly instalments, with the final instalment repaid in May 2023.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
27,715 
9
Average number of employees
During the year the average number of employees was 24 (2022: 15).
- 7 -