Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalse2022-05-17property rental and management services2truefalse 14113024 2022-05-16 14113024 2022-05-17 2023-05-31 14113024 2021-05-17 2022-05-16 14113024 2023-05-31 14113024 c:Director2 2022-05-17 2023-05-31 14113024 d:CurrentFinancialInstruments 2023-05-31 14113024 d:Non-currentFinancialInstruments 2023-05-31 14113024 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14113024 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 14113024 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 14113024 d:ShareCapital 2023-05-31 14113024 d:RetainedEarningsAccumulatedLosses 2023-05-31 14113024 c:FRS102 2022-05-17 2023-05-31 14113024 c:AuditExempt-NoAccountantsReport 2022-05-17 2023-05-31 14113024 c:FullAccounts 2022-05-17 2023-05-31 14113024 c:PrivateLimitedCompanyLtd 2022-05-17 2023-05-31 14113024 e:PoundSterling 2022-05-17 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 14113024









LP READING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2023

 
LP READING LIMITED
REGISTERED NUMBER: 14113024

BALANCE SHEET
AS AT 31 MAY 2023

2023
Note
£

  

Current assets
  

Stocks
 4 
12,026,185

Debtors: amounts falling due within one year
 5 
16,247

Cash at bank and in hand
 6 
184,419

  
12,226,851

Creditors: amounts falling due within one year
 7 
(954,733)

Net current assets
  
 
 
11,272,118

Total assets less current liabilities
  
11,272,118

Creditors: amounts falling due after more than one year
 8 
(11,375,000)

  

Net (liabilities)/assets
  
(102,882)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(102,982)

  
(102,882)


Page 1

 
LP READING LIMITED
REGISTERED NUMBER: 14113024
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



S R Lipman
Director

Date: 13 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LP READING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

LP Reading Limited is a private company limited by shares and incorporated in England. The registered
office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 3

 
LP READING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2.






4.


Stocks

2023
£

Finished goods and goods for resale
12,026,185

12,026,185



5.


Debtors

2023
£


Trade debtors
15,101

Prepayments and accrued income
1,146

16,247


Page 4

 
LP READING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
184,419

184,419



7.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
59,274

Amounts owed to group undertakings
863,858

Other creditors
16,445

Accruals and deferred income
15,156

954,733



8.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
11,375,000

11,375,000


Page 5

 
LP READING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
£



Amounts falling due 2-5 years

Bank loans
11,375,000


11,375,000


11,375,000


 
Page 6