REGISTERED NUMBER: |
LAUNCHPAD RESEARCH LIMITED |
Unaudited Financial Statements For The Year Ended 30 April 2024 |
REGISTERED NUMBER: |
LAUNCHPAD RESEARCH LIMITED |
Unaudited Financial Statements For The Year Ended 30 April 2024 |
LAUNCHPAD RESEARCH LIMITED (REGISTERED NUMBER: 04403337) |
Contents of the Financial Statements |
For The Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountants | 7 |
LAUNCHPAD RESEARCH LIMITED |
Company Information |
For The Year Ended 30 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountant |
18 Norham Road |
Whitley Bay |
Tyne and Wear |
NE26 2SD |
LAUNCHPAD RESEARCH LIMITED (REGISTERED NUMBER: 04403337) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
LAUNCHPAD RESEARCH LIMITED (REGISTERED NUMBER: 04403337) |
Balance Sheet - continued |
30 April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
LAUNCHPAD RESEARCH LIMITED (REGISTERED NUMBER: 04403337) |
Notes to the Financial Statements |
For The Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Launchpad Research Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. |
The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity. |
Rendering of services: |
The company provides market research services. When the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs, and its stage of completion, the company recognises revenue on the sales of services in the reporting period in which the services are rendered by reference to the stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. |
When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stock consists wholly of work in progress. This is valued at cost plus a margin that reflects how complete the work has progressed. Net realisable value exceeds the value of work in progress. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
LAUNCHPAD RESEARCH LIMITED (REGISTERED NUMBER: 04403337) |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Significant estimates |
There were no estimates made that were significant enough to warrant disclosure. |
Employee benefits |
Short term employee benefits are recognised as an expense in the period in which they are incurred. |
Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
LAUNCHPAD RESEARCH LIMITED (REGISTERED NUMBER: 04403337) |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Included in other creditors are amounts owed to the Directors, this year they were owed £7,589 (£8,819 - 2023). |
7. | FINANCIAL INSTRUMENTS |
Debtors are shown at their impaired value (i.e. less doubtful debts) and trade creditors are at their carrying value. |
Loans made to the company are valued at the carrying amount which is determined deducting capital repayments and by adding interest calculated using the effective interest method on an actuarial basis. |
Hire purchase contracts taken out by the company are valued at the carrying amount which is determined deducting capital repayments and by adding interest calculated using the effective interest method on an actuarial basis. |
8. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 4,686 | 5,935 |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Provided during year | ( |
) |
Balance at 30 April 2024 |
9. | RELATED PARTY DISCLOSURES |
No transactions with related parties were undertaken that required disclosure under FRS 102 section 1A small entities. |
LAUNCHPAD RESEARCH LIMITED |
Report of the Accountants to the Directors of |
Launchpad Research Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2024 set out on pages three to ten and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Chartered Certified Accountant |
18 Norham Road |
Whitley Bay |
Tyne and Wear |
NE26 2SD |