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Registered number: 06537625
Laura Rudge Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 06537625
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 308,840 279,951
Investments 6 34,152 30,909
342,992 310,860
CURRENT ASSETS
Debtors 7 406,711 314,841
Cash at bank and in hand 493,960 457,584
900,671 772,425
Creditors: Amounts Falling Due Within One Year (143,526 ) (107,209 )
NET CURRENT ASSETS (LIABILITIES) 757,145 665,216
TOTAL ASSETS LESS CURRENT LIABILITIES 1,100,137 976,076
Creditors: Amounts Falling Due After More Than One Year (191,348 ) (191,310 )
NET ASSETS 908,789 784,766
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 908,788 784,765
SHAREHOLDERS' FUNDS 908,789 784,766
Page 1
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Dr Laura Rudge
Director
22nd November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Laura Rudge Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06537625 . The registered office is 61 Mannamead Road, Plymouth, Devon, PL3 4SS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Plant & Machinery 25% of net book value per annum
Computer Equipment 20% straight line
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 12)
14 12
4. Intangible Assets
Total
£
Cost
As at 1 April 2023 143,000
As at 31 March 2024 143,000
Amortisation
As at 1 April 2023 143,000
As at 31 March 2024 143,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Total
£
Cost
As at 1 April 2023 353,987
Additions 59,556
As at 31 March 2024 413,543
Depreciation
As at 1 April 2023 74,036
Provided during the period 30,667
As at 31 March 2024 104,703
Net Book Value
As at 31 March 2024 308,840
As at 1 April 2023 279,951
6. Investments
Total
£
Cost
As at 1 April 2023 30,909
Revaluations 3,243
As at 31 March 2024 34,152
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 34,152
As at 1 April 2023 30,909
7. Debtors
2024 2023
£ £
Due after more than one year
Other debtors 91,512 69,443
Directors loan account 279,060 213,374
370,572 282,817
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Dr Laura Rudge 213,374 154,411 (88,725 ) - 279,060
The above loan is unsecured and repayable on demand. Interest has been charged on the account with an interest rate of 6%.
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