REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
Lang Arm Capital Partners Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2024 |
for |
Lang Arm Capital Partners Limited |
Lang Arm Capital Partners Limited (Registered number: SC685885) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Lang Arm Capital Partners Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Pavilion 1 |
Finnieston Business Park |
Minerva Way |
GLASGOW |
G3 8AU |
Lang Arm Capital Partners Limited (Registered number: SC685885) |
Balance Sheet |
31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
The financial statements were approved by the director and authorised for issue on |
Lang Arm Capital Partners Limited (Registered number: SC685885) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Lang Arm Capital Partners Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis which assumes the company will continue to trade for the foreseeable future. Despite liabilities exceeding assets at the balance sheet date, the Director is confident that the company can continue trading for the foreseeable future and will be able to continue trading for at least 12 months from the balance sheet date. Should the company be unable to continue trading, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to reclassify fixed assets and long term liabilities as current assets and liabilities. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover for the provision of professional services is recognised in the period that the services are rendered. |
Financial instruments |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as received within one year are not amortised. |
Basic financial liabilities, which include creditors and loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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. |
Lang Arm Capital Partners Limited (Registered number: SC685885) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
As at 31 January 2024, the company was owed £20,382 from 1010 Owens Consulting Limited. There is no fixed repayment date and no interest has been charged on this balance. |
1010 Owens Consulting Limited is a company in which John Owens (Director and Shareholder) is also a Director and Shareholder. |