Registered number
06987391
LH Partners Limited
Filleted Accounts
For the year ended 30 November 2023
LH Partners Limited
Registered number: 06987391
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,917 1,351
Current assets
Investments held as current assets 4 82,325 80,200
Cash at bank and in hand 417,890 393,014
500,215 473,214
Creditors: amounts falling due within one year 5 (97,914) (89,824)
Net current assets 402,301 383,390
Total assets less current liabilities 405,218 384,741
Provisions for liabilities (728) (256)
Net assets 404,490 384,485
Capital and reserves
Called up share capital 20 20
Profit and loss account 404,470 384,465
Shareholders' funds 404,490 384,485
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 2 September 2024
P J Han
Director
LH Partners Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is recognised by reference to the completion of the services provided.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, and equipment 33% per annum on net book value
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Company contributions to defined staff pension plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures fittings and equipment
£
Cost
At 1 December 2022 4,279
Additions 2,292
Disposals -
At 30 November 2023 6,571
Depreciation
At 1 December 2022 2,928
Charge for the year 726
At 30 November 2023 3,654
Net book value
At 30 November 2023 2,917
At 30 November 2022 1,351
4 Investments held as current assets 2023 2022
£ £
Listed investments 82,325 80,200
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 95,658 79,924
Other creditors 2,256 9,900
97,914 89,824
6 Other information
LH Partners Limited is a private company limited by shares and incorporated in England. Its registered office is Huckletree Alphabeta Building, 18 Finsbury Square, London EC2A 1AH.
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