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Registration number: 04332503

LP Design Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Period from 1 January 2023 to 30 June 2024

 

LP Design Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

LP Design Limited

(Registration number: 04332503)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

-

280

Current assets

 

Debtors

5

82

6,800

Cash at bank and in hand

 

16,643

2,155

 

16,725

8,955

Creditors: Amounts falling due within one year

6

(23,229)

(12,840)

Net current liabilities

 

(6,504)

(3,885)

Net liabilities

 

(6,504)

(3,605)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(6,506)

(3,607)

Shareholders' deficit

 

(6,504)

(3,605)

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

Directors' 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 directors acknowledge their 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 9 December 2024 and signed on its behalf by:
 

.........................................
Miss S E Pearce
Company secretary and director

 

LP Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 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: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a break-up basis and not a going concern basis as the directors intend to wind up the company within 12 months of the reporting date.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

LP Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 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

Computer Equipment

25% Reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

 

LP Design Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 30 June 2024

4

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 1 January 2023

501

3,697

4,198

Disposals

(501)

(3,697)

(4,198)

At 30 June 2024

-

-

-

Depreciation

At 1 January 2023

452

3,466

3,918

Charge for the period

17

81

98

Eliminated on disposal

(469)

(3,547)

(4,016)

At 30 June 2024

-

-

-

Carrying amount

At 30 June 2024

-

-

-

At 31 December 2022

49

231

280

5

Debtors

2024
£

2022
£

Trade debtors

-

6,800

Other debtors

82

-

82

6,800

6

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Taxation and social security

116

391

Accruals and deferred income

2,794

1,933

Other creditors

20,319

10,516

23,229

12,840