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REGISTERED NUMBER: 10896644 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Lastpick Limited

Lastpick Limited (Registered number: 10896644)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lastpick Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: T J Prince-Fraser
K B Prince-Fraser





REGISTERED OFFICE: Office 10, Unit 1
465C Hornsey Road
Islington
London
N19 4DR





REGISTERED NUMBER: 10896644 (England and Wales)





ACCOUNTANTS: Goldhill Accountancy Ltd
Office 10, Unit 1
465C Hornsey Road
Islington
London
N19 4DR

Lastpick Limited (Registered number: 10896644)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41 60

CURRENT ASSETS
Debtors 5 10,790 308
Cash at bank 450 3,984
11,240 4,292
CREDITORS
Amounts falling due within one year 6 26,560 17,362
NET CURRENT LIABILITIES (15,320 ) (13,070 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(15,279

)

(13,010

)

CREDITORS
Amounts falling due after more than one
year

7

(40,420

)

(50,000

)

PROVISIONS FOR LIABILITIES 9 (8 ) (11 )
NET LIABILITIES (55,707 ) (63,021 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 (55,807 ) (63,121 )
(55,707 ) (63,021 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

Lastpick Limited (Registered number: 10896644)

Balance Sheet - continued
31 August 2023


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 by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:





K B Prince-Fraser - Director


Lastpick Limited (Registered number: 10896644)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Lastpick 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.

The directors consider the going concern basis to be appropriate as, in their opinion, the company will be able to secure sufficient funding to enable it to pay its debts as they fall due.
The financial statements have been prepared on the going concern basis on the assumption the company will continue to trade for the foreseeable future, even though it had net liabilities of £55,707 (2022: £63,021) as at the balance sheet date.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Lastpick Limited (Registered number: 10896644)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2022
and 31 August 2023 83
DEPRECIATION
At 1 September 2022 23
Charge for year 19
At 31 August 2023 42
NET BOOK VALUE
At 31 August 2023 41
At 31 August 2022 60

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Directors' current accounts 10,790 -
Prepayments - 308
10,790 308

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts (see note 8) 8,405 -
Trade creditors 349 265
Tax 3,599 709
VAT 14,207 3,553
Other creditors - 12,835
26,560 17,362

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans (see note 8) 40,420 50,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 16,260 27,777

Lastpick Limited (Registered number: 10896644)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. LOANS

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 8,405 -

Amounts falling due between one and two years:
Bank loans - 1-2 years 7,348 5,556

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,812 16,667

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 16,260 27,777

9. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
£    £   
Deferred tax 8 11

Deferred
tax
£   
Balance at 1 September 2022 11
Provided during year (3 )
Balance at 31 August 2023 8

10. RESERVES
Retained
earnings
£   

At 1 September 2022 (63,121 )
Profit for the year 7,314
At 31 August 2023 (55,807 )

Lastpick Limited (Registered number: 10896644)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
K B Prince-Fraser
Balance outstanding at start of year - 9,417
Amounts advanced 65,913 24,678
Amounts repaid (55,074 ) (34,095 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,839 -

T J Prince-Fraser
Balance outstanding at start of year - 9,417
Amounts advanced - 11,738
Amounts repaid - (21,155 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The directors' current account balance of £10,839 (2022: £Nil) has no fixed date for repayment, is repayable upon demand and is non-interest bearing.