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Registration number: 11347999

Lamanva Training Centre Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Lamanva Training Centre Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Lamanva Training Centre Ltd

Company Information

Directors

James Mann

Jane Mann

Registered office

79-81 Boslowick Road
Falmouth
Cornwall
TR11 4QD

Accountants

Julia Evans Accountants Ltd
79-81 Boslowick Road
Falmouth Road
Falmouth
Cornwall
TR11 4QD

 

Lamanva Training Centre Ltd

(Registration number: 11347999)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

212,510

233,377

Current assets

 

Stocks

1,800

1,800

Debtors

5

70,409

54,595

Cash at bank and in hand

 

-

21,009

 

72,209

77,404

Creditors: Amounts falling due within one year

6

(114,562)

(97,269)

Net current liabilities

 

(42,353)

(19,865)

Total assets less current liabilities

 

170,157

213,512

Creditors: Amounts falling due after more than one year

6

(16,877)

(40,822)

Provisions for liabilities

(25,581)

(44,342)

Net assets

 

127,699

128,348

Capital and reserves

 

Called up share capital

100

100

Retained earnings

127,599

128,248

Shareholders' funds

 

127,699

128,348

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Lamanva Training Centre Ltd

(Registration number: 11347999)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:
 

.........................................
James Mann
Director

.........................................
Jane Mann
Director

 

Lamanva Training Centre Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
79-81 Boslowick Road
Falmouth
Cornwall
TR11 4QD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Lamanva Training Centre Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Lamanva Training Centre Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

 

Lamanva Training Centre Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

79,818

22,364

43,911

179,571

325,664

Additions

15,714

249

-

-

15,963

Disposals

-

-

-

(23,500)

(23,500)

At 31 March 2024

95,532

22,613

43,911

156,071

318,127

Depreciation

At 1 April 2023

-

7,995

19,767

64,525

92,287

Charge for the year

-

1,462

4,828

9,390

15,680

Eliminated on disposal

-

-

-

(2,350)

(2,350)

At 31 March 2024

-

9,457

24,595

71,565

105,617

Carrying amount

At 31 March 2024

95,532

13,156

19,316

84,506

212,510

At 31 March 2023

79,818

14,369

24,144

115,046

233,377

Included within the net book value of land and buildings above is £95,532 (2023 - £79,818) in respect of freehold land and buildings.
 

 

Lamanva Training Centre Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

64,164

53,008

Prepayments

1,645

1,453

Other debtors

4,600

134

 

70,409

54,595

 

Lamanva Training Centre Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

19,321

19,764

Trade creditors

 

9,890

17,572

Taxation and social security

 

59,819

39,935

Accruals and deferred income

 

7,875

1,198

Other creditors

 

17,657

18,800

 

114,562

97,269

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

16,877

40,822

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

16,877

27,003

Hire purchase contracts

-

13,819

16,877

40,822

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,126

10,126

Bank overdrafts

3,663

-

Hire purchase contracts

5,532

9,638

19,321

19,764