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REGISTERED NUMBER: 06285479 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

Learay Ltd

Learay Ltd (Registered number: 06285479)

Contents of the Financial Statements
for the year ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

Learay Ltd

Company Information
for the year ended 30 June 2024







DIRECTOR: S D Allen





REGISTERED OFFICE: 99 Canterbury Road
Whitstable
Kent
CT5 4HG





REGISTERED NUMBER: 06285479 (England and Wales)





ACCOUNTANTS: MPH Accountancy and Business Advisors Ltd
99 Canterbury Road
Whitstable
Kent
CT5 4HG

Learay Ltd (Registered number: 06285479)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,984 15,547

CURRENT ASSETS
Stocks 60,000 60,000
Debtors 5 328,891 268,766
Cash at bank and in hand 81,778 95,672
470,669 424,438
CREDITORS
Amounts falling due within one year 6 517,353 500,992
NET CURRENT LIABILITIES (46,684 ) (76,554 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(33,700

)

(61,007

)

CREDITORS
Amounts falling due after more than one
year

7

30,000

60,000
NET LIABILITIES (63,700 ) (121,007 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (63,702 ) (121,009 )
SHAREHOLDERS' FUNDS (63,700 ) (121,007 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Learay Ltd (Registered number: 06285479)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





S D Allen - Director


Learay Ltd (Registered number: 06285479)

Notes to the Financial Statements
for the year ended 30 June 2024


1. STATUTORY INFORMATION

Learay Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Learay Ltd (Registered number: 06285479)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 89,312
Additions 4,993
At 30 June 2024 94,305
DEPRECIATION
At 1 July 2023 73,765
Charge for year 7,556
At 30 June 2024 81,321
NET BOOK VALUE
At 30 June 2024 12,984
At 30 June 2023 15,547

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 304,643 256,766
Other debtors 24,248 12,000
328,891 268,766

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,000 30,000
Other loans - IWOCA 46,331 39,150
Other loans - Capital on Tap 35,734 36,302
Other loans - Funding Circle 50,860 62,065
Other loans - Funding Circle 73,549 -
Trade creditors 76,423 116,660
Tax 20 2
Social security and other taxes - 1,961
VAT 157,351 76,101
Other creditors 45,169 138,751
PAYE/NIC Control 1,731 -
Pensions control 183 -
Directors' current accounts 2 -
517,353 500,992

Learay Ltd (Registered number: 06285479)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 30,000 30,000
Bank loans - 2-5 years - 30,000
30,000 60,000

Accountants' Report to the Director
on the Unaudited Financial Statements of
Learay Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Learay Ltd for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of Learay Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Learay Ltd and state those matters that we have agreed to state to the director of Learay Ltd in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Learay Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Learay Ltd. You consider that Learay Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Learay Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






MPH Accountancy and Business Advisors Ltd
99 Canterbury Road
Whitstable
Kent
CT5 4HG


31 October 2024