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Registered Number: 13418450
England and Wales

 

 

 

LNA14 LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Directors Naomi Austen
Andrew Austen
Registered Number 13418450
Registered Office 145 High Street
Rochester
Kent
ME1 1EL
Accountants Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 May 2024.
Principal activities
The principal activity of the company during the financial year was that of a retailer of food and drink.
Directors
The directors who served the company throughout the year were as follows:
Naomi Austen
Andrew Austen
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Naomi Austen
Director

Date approved: 09 January 2025
2
Report to the directors on the preparation of the unaudited statutory accounts of LNA14 Limited for the year ended 31 May 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LNA14 Limited for the year ended 31 May 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of LNA14 Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of LNA14 Limited and state those matters that we have agreed to state to the Board of Directors of LNA14 Limited, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LNA14 Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that LNA14 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of LNA14 Limited.You consider that LNA14 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of LNA14 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 May 2024.



....................................................
Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
09 January 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 5 120,000    120,000 
Tangible fixed assets 6 64,714    86,869 
184,714    206,869 
Current assets      
Stocks 7 9,850    15,000 
Debtors 8 23,293    23,799 
Cash at bank and in hand 137,817    131,271 
170,960    170,070 
Creditors: amount falling due within one year 9 (244,400)   (283,171)
Net current assets (73,440)   (113,101)
 
Total assets less current liabilities 111,274    93,768 
Provisions for liabilities 10 (13,726)   (14,708)
Net assets 97,548    79,060 
 

Capital and reserves
     
Called up share capital 11 2    2 
Profit and loss account 97,546    79,058 
Shareholders' funds 97,548    79,060 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 09 January 2025 and were signed on its behalf by:


-------------------------------
Andrew Austen
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 June 2022 2  8,142  8,144 
Profit for the year 70,916  70,916 
Total comprehensive income for the year 70,916  70,916 
Total investments by and distributions to owners
At 31 May 2023 2  79,058  79,060 
At 01 June 2023 2  79,058  79,060 
Profit for the year 18,488  18,488 
Total comprehensive income for the year 18,488  18,488 
Total investments by and distributions to owners
At 31 May 2024 2  97,546  97,548 
5
General Information
LNA14 Limited is a private company, limited by shares, registered in England and Wales, registration number 13418450, registration address 145 High Street, Rochester, Kent, ME1 1EL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost . No amortisation is provided as in the opinion of the directors the value of goodwill has not diminished.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Straight Line
Equipment, Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

2024
£
  2023
£
Administrative Expenses
Directors Remuneration 23,223    18,970 
23,223    18,970 

3.

Staff Costs

2024
£
  2023
£
Wages and salaries 299,783    263,292 
Pension costs, defined contribution plan 10,959    9,560 
Other staff costs 1,870    825 
312,612    273,677 

4.

Average number of employees

Average number of employees during the year was 15 (2023 : 0).
5.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2023 120,000    120,000 
Additions  
Disposals  
At 31 May 2024 120,000    120,000 
Net book values
At 31 May 2024 120,000    120,000 
At 31 May 2023 120,000    120,000 


6.

Tangible fixed assets

Cost or valuation Motor Vehicles   Equipment, Fixtures and Fittings   Total
  £   £   £
At 01 June 2023 3,500    151,323    154,823 
Additions    
Disposals    
At 31 May 2024 3,500    151,323    154,823 
Depreciation
At 01 June 2023 1,750    66,204    67,954 
Charge for year 875    21,280    22,155 
On disposals    
At 31 May 2024 2,625    87,484    90,109 
Net book values
Closing balance as at 31 May 2024 875    63,839    64,714 
Opening balance as at 01 June 2023 1,750    85,119    86,869 


7.

Stocks

2024
£
  2023
£
Stocks 9,850    15,000 
9,850    15,000 

8.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 2,325    4,549 
Prepayments & Accrued Income 3,643    1,925 
Rent Deposit 17,325    17,325 
23,293    23,799 

9.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1,273    1,372 
Corporation Tax 9,697    2,078 
PAYE & Social Security 2,813    2,619 
Other Creditors 1,340    1,173 
Wages & Salaries Control Account 16,569   
Directors Current Account 190,021    250,481 
VAT 22,687    25,448 
244,400    283,171 

10.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 13,726    14,708 
13,726    14,708 

11.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

6