Company registration number 15151410 (England and Wales)
LA TOOLS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LA TOOLS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LA TOOLS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
14,783
Current assets
Stocks
5,342
Debtors
4
63,520
Cash at bank and in hand
11,917
80,779
Creditors: amounts falling due within one year
5
(72,260)
Net current assets
8,519
Total assets less current liabilities
23,302
Provisions for liabilities
(283)
Net assets
23,019
Capital and reserves
Called up share capital
100
Profit and loss reserves
22,919
Total equity
23,019

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 2 October 2024
Mr L C Abbott
Director
Company registration number 15151410 (England and Wales)
LA TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

LA Tools limited is a private company limited by shares incorporated in England and Wales. The registered office is Stella Maris Suite, Pierremont Hall, Pierremont Park, Broadstairs, Kent, CT10 1JX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
20% reducing balance
Motor vehicles
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LA TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
1
3
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 20 September 2023
-
0
-
0
-
0
Additions
1,426
15,000
16,426
At 31 March 2024
1,426
15,000
16,426
Depreciation and impairment
At 20 September 2023
-
0
-
0
-
0
Depreciation charged in the period
143
1,500
1,643
At 31 March 2024
143
1,500
1,643
Carrying amount
At 31 March 2024
1,283
13,500
14,783
4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
63,520
LA TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
3,785
Corporation tax
5,760
Other taxation and social security
4,434
Other creditors
58,281
72,260
2024-03-312023-09-20false02 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr L C Abbottfalsefalse151514102023-09-202024-03-31151514102024-03-3115151410core:ComputerEquipment2024-03-3115151410core:MotorVehicles2024-03-3115151410core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3115151410core:CurrentFinancialInstruments2024-03-3115151410core:ShareCapital2024-03-3115151410core:RetainedEarningsAccumulatedLosses2024-03-3115151410bus:Director12023-09-202024-03-3115151410core:ComputerEquipment2023-09-202024-03-3115151410core:MotorVehicles2023-09-202024-03-3115151410core:ComputerEquipment2023-09-1915151410core:MotorVehicles2023-09-19151514102023-09-1915151410bus:PrivateLimitedCompanyLtd2023-09-202024-03-3115151410bus:SmallCompaniesRegimeForAccounts2023-09-202024-03-3115151410bus:FRS1022023-09-202024-03-3115151410bus:AuditExemptWithAccountantsReport2023-09-202024-03-3115151410bus:FullAccounts2023-09-202024-03-31xbrli:purexbrli:sharesiso4217:GBP