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Company Registration No. 07853483 (England and Wales)
Local Agent Network Limited Unaudited accounts for the year ended 30 April 2024
Local Agent Network Limited Unaudited accounts Contents
Page
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Local Agent Network Limited Company Information for the year ended 30 April 2024
Directors
Sally Smith Graham Smith
Company Number
07853483 (England and Wales)
Registered Office
UNIT A, ANGEL BUSINESS CENTRE, 1 LUTON R TODDINGTON DUNSTABLE BEDFORDSHIRE LU5 6DE ENGLAND
Accountants
Mayflower Accountancy & Tax Limited Unit A, Angel Business Centre 1 Luton Road Toddington Bedfordshire LU5 6DE
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Local Agent Network Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,731 
1,931 
Current assets
Debtors
2,280 
4,191 
Cash at bank and in hand
115,221 
95,029 
117,501 
99,220 
Creditors: amounts falling due within one year
(23,557)
(19,416)
Net current assets
93,944 
79,804 
Total assets less current liabilities
95,675 
81,735 
Provisions for liabilities
Deferred tax
(432)
(366)
Net assets
95,243 
81,369 
Capital and reserves
Called up share capital
150 
150 
Profit and loss account
95,093 
81,219 
Shareholders' funds
95,243 
81,369 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by
Sally Smith Director Company Registration No. 07853483
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Local Agent Network Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Local Agent Network Limited is a private company, limited by shares, registered in England and Wales, registration number 07853483. The registered office is UNIT A, ANGEL BUSINESS CENTRE, 1 LUTON R, TODDINGTON, DUNSTABLE, BEDFORDSHIRE, LU5 6DE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Local Agent Network Limited Notes to the Accounts for the year ended 30 April 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
9,991 
12,564 
22,555 
Additions
- 
1,208 
1,208 
At 30 April 2024
9,991 
13,772 
23,763 
Depreciation
At 1 May 2023
9,609 
11,015 
20,624 
Charge for the year
375 
1,033 
1,408 
At 30 April 2024
9,984 
12,048 
22,032 
Net book value
At 30 April 2024
7 
1,724 
1,731 
At 30 April 2023
382 
1,549 
1,931 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
2,306 
Accrued income and prepayments
1,044 
588 
Other debtors
1,236 
1,297 
2,280 
4,191 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
7,102 
6,214 
Trade creditors
821 
- 
Taxes and social security
13,343 
10,539 
Other creditors
406 
98 
Loans from directors
85 
1,290 
Accruals
1,800 
1,275 
23,557 
19,416 
7
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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