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REGISTERED NUMBER: 05107595 (England and Wales)























Unaudited Financial Statements

for the Year Ended 30 April 2024

for

LFP Consultants Limited

LFP Consultants Limited (Registered number: 05107595)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LFP Consultants Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Brendon James Utley
Mark John Chester





SECRETARY: Mark John Chester





REGISTERED OFFICE: Legacy House
407 Preston Road
Clayton Le woods
Chorley
Lancashire
PR6 7JA





REGISTERED NUMBER: 05107595 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

LFP Consultants Limited (Registered number: 05107595)

Statement of Financial Position
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,639 44,314
Tangible assets 5 179,879 210,231
203,518 254,545

CURRENT ASSETS
Cash at bank 290,210 262,229

CREDITORS
Amounts falling due within one year 6 199,536 144,455
NET CURRENT ASSETS 90,674 117,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

294,192

372,319

CREDITORS
Amounts falling due after more than one
year

7

(112,772

)

(139,866

)

PROVISIONS FOR LIABILITIES (33,917 ) (31,921 )
NET ASSETS 147,503 200,532

CAPITAL AND RESERVES
Called up share capital 9 14,204 14,204
Retained earnings 133,299 186,328
SHAREHOLDERS' FUNDS 147,503 200,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

LFP Consultants Limited (Registered number: 05107595)

Statement of Financial Position - continued
30 April 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:




Brendon James Utley - Director



Mark John Chester - Director


LFP Consultants Limited (Registered number: 05107595)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

LFP Consultants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
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 on incorporation is being written off over 20 years .The goodwill on incorporation has been reviewed in the light of recent changes within the financial services industry and is considered to be appropriate. Goodwill acquired is being written off over its economic life of 5 years as a result of Retail Distribution Review.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


LFP Consultants Limited (Registered number: 05107595)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


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.

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.

Fixed asset investments
Fixed assets investments comprise investments in quoted shares and similar equity investments. The investments are initially recognised at cost but are subsequently held a fair value, based on market values at the financial period end.

Any fair value adjustments are reported in the income statement as unrealised gains or losses. Upon disposal the profit or loss is reported through the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023 3,235,419
Disposals (18,144 )
At 30 April 2024 3,217,275
AMORTISATION
At 1 May 2023 3,191,105
Amortisation for year 20,675
Eliminated on disposal (18,144 )
At 30 April 2024 3,193,636
NET BOOK VALUE
At 30 April 2024 23,639
At 30 April 2023 44,314

LFP Consultants Limited (Registered number: 05107595)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 97,761 1,539 61,499
Additions 8,374 - 6,785
At 30 April 2024 106,135 1,539 68,284
DEPRECIATION
At 1 May 2023 51,312 1,539 60,975
Charge for year 10,613 - 1,871
At 30 April 2024 61,925 1,539 62,846
NET BOOK VALUE
At 30 April 2024 44,210 - 5,438
At 30 April 2023 46,449 - 524

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 223,088 91,658 475,545
Additions - 2,221 17,380
At 30 April 2024 223,088 93,879 492,925
DEPRECIATION
At 1 May 2023 80,312 71,176 265,314
Charge for year 28,555 6,693 47,732
At 30 April 2024 108,867 77,869 313,046
NET BOOK VALUE
At 30 April 2024 114,221 16,010 179,879
At 30 April 2023 142,776 20,482 210,231

LFP Consultants Limited (Registered number: 05107595)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 223,088
DEPRECIATION
At 1 May 2023 80,312
Charge for year 28,555
At 30 April 2024 108,867
NET BOOK VALUE
At 30 April 2024 114,221
At 30 April 2023 142,776

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 8) 27,095 27,095
Trade creditors 1,375 4,956
Tax 143,350 82,275
Other creditors 16,502 17,302
Directors' loan accounts 671 759
Accrued expenses 10,543 12,068
199,536 144,455

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 8) 112,772 139,866

LFP Consultants Limited (Registered number: 05107595)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 27,095 27,095
Between one and five years 112,772 139,866
139,867 166,961

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 4,542 4,542

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
14,000 Ordinary £1 14,000 14,000
2 'A' Ordinary £1 2 2
100 'B' Ordinary £1 100 100
100 'C' Ordinary £1 100 100
1 'D' Ordinary £1 1 1
1 'E' Ordinary £1 1 1
14,204 14,204