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REGISTERED NUMBER: 10127043 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

LCS PRACTICE LIMITED

LCS PRACTICE LIMITED (REGISTERED NUMBER: 10127043)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LCS PRACTICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: MS J G P LEARMOND-CRIQUI
J SOKEL





SECRETARY: MS J G P LEARMOND-CRIQUI





REGISTERED OFFICE: 14A REDINGTON ROAD
LONDON
NW3 7RG





REGISTERED NUMBER: 10127043 (England and Wales)





ACCOUNTANTS: GOLDWYNS
CHARTERED ACCOUNTANTS
110 BISHOPSGATE
LONDON
EC2N 4AY

LCS PRACTICE LIMITED (REGISTERED NUMBER: 10127043)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,170 7,850

CURRENT ASSETS
Debtors 5 43,442 66,034
Cash at bank 4,792 3,825
48,234 69,859
CREDITORS
Amounts falling due within one year 6 57,804 59,184
NET CURRENT (LIABILITIES)/ASSETS (9,570 ) 10,675
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,400

)

18,525

CREDITORS
Amounts falling due after more than one year 7 (11,000 ) (15,125 )

PROVISIONS FOR LIABILITIES 8 - (1,492 )
NET (LIABILITIES)/ASSETS (19,400 ) 1,908

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (19,500 ) 1,808
SHAREHOLDERS' FUNDS (19,400 ) 1,908

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

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

The directors acknowledge their 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.

LCS PRACTICE LIMITED (REGISTERED NUMBER: 10127043)

BALANCE SHEET - continued
30 APRIL 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 and authorised for issue by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





J SOKEL - Director


LCS PRACTICE LIMITED (REGISTERED NUMBER: 10127043)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

LCS PRACTICE LIMITED 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 for the goods and the rendering of services in the normal course of business, and is shown net of discounts and VAT.

Rendering of services
Revenue arises from the provision of legal services.
Revenue is recognised proportionally over the performance of the service contract, by reference to the stage of completion of the transaction at the end of the reporting period.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computers 33.33% Straight line
Equipment 25.00% Straight line
Fixtures & fittings 20.00% Straight Line


LCS PRACTICE LIMITED (REGISTERED NUMBER: 10127043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

LCS PRACTICE LIMITED (REGISTERED NUMBER: 10127043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
Equipment fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 23,715 1,720 7,941 33,376
DEPRECIATION
At 1 May 2023 17,787 614 7,125 25,526
Charge for year 5,928 344 408 6,680
At 30 April 2024 23,715 958 7,533 32,206
NET BOOK VALUE
At 30 April 2024 - 762 408 1,170
At 30 April 2023 5,928 1,106 816 7,850

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,199 8,070
Other debtors 7,639 6,643
Directors' current accounts 11,604 51,321
43,442 66,034

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,445 8,492
Trade creditors 11,255 6,937
Tax 7,282 15,026
VAT 4,745 766
Other creditors 6,077 8,963
Accrued expenses 19,000 19,000
57,804 59,184

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 11,000 15,125

LCS PRACTICE LIMITED (REGISTERED NUMBER: 10127043)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 1,492

Deferred
tax
£   
Balance at 1 May 2023 1,492
Balance at 30 April 2024 1,492

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 May 2023 1,808
Deficit for the year (21,308 )
At 30 April 2024 (19,500 )

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the year end, the company was owed £10,748 (2023: £51,321) by the directors. This was repayable within 9 months of the year end. Interest has been charged.