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Company No: 14823616 (England and Wales)

LANE AND CO DESIGN LTD

Unaudited Financial Statements
For the financial period from 24 April 2023 to 30 April 2024
Pages for filing with the registrar

LANE AND CO DESIGN LTD

Unaudited Financial Statements

For the financial period from 24 April 2023 to 30 April 2024

Contents

LANE AND CO DESIGN LTD

BALANCE SHEET

As at 30 April 2024
LANE AND CO DESIGN LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 30.04.2024
£
Fixed assets
Tangible assets 3 1,838
1,838
Current assets
Debtors 4 7,964
Cash at bank and in hand 21,287
29,251
Creditors: amounts falling due within one year 5 ( 25,090)
Net current assets 4,161
Total assets less current liabilities 5,999
Net assets 5,999
Capital and reserves
Called-up share capital 100
Profit and loss account 5,899
Total shareholders' funds 5,999

For the financial period ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Lane and Co Design Ltd (registered number: 14823616) were approved and authorised for issue by the Board of Directors on 14 October 2024. They were signed on its behalf by:

Alison Cheyne
Director
LANE AND CO DESIGN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 24 April 2023 to 30 April 2024
LANE AND CO DESIGN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 24 April 2023 to 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Lane and Co Design Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Mentmore Terrace, 1 Mentmore Terrace, London, E8 3PN, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

2. Employees

Period from
24.04.2023 to
30.04.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Tangible assets

Computer equipment Total
£ £
Cost
At 24 April 2023 0 0
Additions 2,451 2,451
At 30 April 2024 2,451 2,451
Accumulated depreciation
At 24 April 2023 0 0
Charge for the financial period 613 613
At 30 April 2024 613 613
Net book value
At 30 April 2024 1,838 1,838

4. Debtors

30.04.2024
£
Trade debtors 7,140
Other debtors 824
7,964

5. Creditors: amounts falling due within one year

30.04.2024
£
Corporation tax 12,443
Other taxation and social security 1,809
Other creditors 10,838
25,090