The Literature Laboratory Limited 14789395 false 2023-04-10 2024-04-30 2024-04-30 The principal activity of the company is sale of books. Digita Accounts Production Advanced 6.30.9574.0 Software true true 14789395 2023-04-10 2024-04-30 14789395 2024-04-30 14789395 core:RetainedEarningsAccumulatedLosses 2024-04-30 14789395 core:ShareCapital 2024-04-30 14789395 core:CurrentFinancialInstruments 2024-04-30 14789395 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14789395 core:FurnitureFittingsToolsEquipment 2024-04-30 14789395 bus:SmallEntities 2023-04-10 2024-04-30 14789395 bus:AuditExemptWithAccountantsReport 2023-04-10 2024-04-30 14789395 bus:FullAccounts 2023-04-10 2024-04-30 14789395 bus:RegisteredOffice 2023-04-10 2024-04-30 14789395 bus:Director1 2023-04-10 2024-04-30 14789395 bus:PrivateLimitedCompanyLtd 2023-04-10 2024-04-30 14789395 bus:Agent1 2023-04-10 2024-04-30 14789395 core:FurnitureFittingsToolsEquipment 2023-04-10 2024-04-30 14789395 countries:AllCountries 2023-04-10 2024-04-30 iso4217:GBP xbrli:pure

Registration number: 14789395

The Literature Laboratory Limited

Annual Report and

Unaudited Financial Statements


for the Period from 10 April 2023 to 30 April 2024

 

The Literature Laboratory Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

The Literature Laboratory Limited

Company Information

Director

Mrs R U Watkins

Registered office

St Eigons Spring Farm
Llanigon
Hereford
Powys
HR3 5QD

 

Bankers

ANNA
P O Box 1130
Cardiff
CF11 1WF

Accountants

W J James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

The Literature Laboratory Limited

(Registration number: 14789395)

Balance Sheet
as at 30 April 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,489

Current assets

 

Stocks

5

14,000

Debtors

6

141

Cash at bank and in hand

 

828

 

14,969

Creditors: Amounts falling due within one year

7

(23,609)

Net current liabilities

 

(8,640)

Net liabilities

 

(7,151)

Capital and reserves

 

Called up share capital

100

Profit and loss account

(7,251)

Total equity

 

(7,151)

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

The Literature Laboratory Limited

(Registration number: 14789395)

Balance Sheet
as at 30 April 2024

Approved and authorised by the director on 2 January 2025
 

.........................................

Mrs R U Watkins

Director

 

The Literature Laboratory Limited

Notes to the Financial Statements
for the Period from 10 April 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Eigons Spring Farm
Llanigon
Hereford
Powys
HR3 5QD

The principal place of business is:
4 Market Street
Hay on Wye
HR3 5AF

These financial statements were authorised for issue by the director on 2 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.The director is committed to supporting the company financially. She will not seek repayment of her director's loan account until the company is able to make repayment.

Revenue recognition

Turnover comprises the fair value of consideration received or receivable for the sale of goods in the shop. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when the sale is made.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

The Literature Laboratory Limited

Notes to the Financial Statements
for the Period from 10 April 2023 to 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

- 25 % reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock of books and other items for resale are stated at the lower of cost and what they are worth.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

The Literature Laboratory Limited

Notes to the Financial Statements
for the Period from 10 April 2023 to 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 3.

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,952

1,952

At 30 April 2024

1,952

1,952

Depreciation

Charge for the

463

463

At 30 April 2024

463

463

Carrying amount

At 30 April 2024

1,489

1,489

5

Stocks

2024
£

Finished goods and goods for resale

14,000

6

Debtors

2024
£

Prepayments

141

141

 

The Literature Laboratory Limited

Notes to the Financial Statements
for the Period from 10 April 2023 to 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Bank loans and overdrafts

8

407

Trade creditors

 

4,530

Taxation and social security

 

16

Accruals and deferred income

 

2,031

Other creditors

 

16,625

 

23,609

8

Loans and borrowings

2024
£

Current loans and borrowings

Other borrowings

407