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L P Squared Ltd

Registered Number
07700639
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

L P Squared Ltd
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Lena Papadouri Fox
Louisa Papadouri
John Leonida

Registered Address

42 High Street, Wanstead
London
E11 2RJ

Registered Number

07700639 (England and Wales)
L P Squared Ltd
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,6811,048
1,6811,048
Current assets
Debtors4327,177230,556
Cash at bank and on hand617,554216,605
944,731447,161
Creditors amounts falling due within one year5(216,819)(47,217)
Net current assets (liabilities)727,912399,944
Total assets less current liabilities729,593400,992
Provisions for liabilities6(420)(199)
Accruals and deferred income-(900)
Net assets729,173399,893
Capital and reserves
Called up share capital500500
Share premium50,84050,840
Profit and loss account677,833348,553
Shareholders' funds729,173399,893
The financial statements were approved and authorised for issue by the Board of Directors on 22 October 2024, and are signed on its behalf by:
Lena Papadouri Fox
Director
Registered Company No. 07700639
L P Squared Ltd
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
L P Squared Ltd is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Employee benefits
The company contributes to individual employee's workplace pension plans. Contributions payable are charged to the income statement in the period to which they relate to. The assets of the plan are held separately from those of the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Computer equipment - 33% on cost
2.Average number of employees

20242023
Average number of employees during the year43
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 July 234,0014,001
Additions1,8151,815
At 30 June 245,8165,816
Depreciation and impairment
At 01 July 232,9532,953
Charge for year1,1821,182
At 30 June 244,1354,135
Net book value
At 30 June 241,6811,681
At 30 June 231,0481,048
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables15,144-
Other debtors309,167226,967
Prepayments and accrued income2,8663,589
Total327,177230,556
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-1,377
Bank borrowings and overdrafts-87
Amounts owed to related parties11,6856,204
Taxation and social security205,13439,549
Total216,81947,217
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)420199
Total420199