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REGISTERED NUMBER: 03988198 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

LAN CONCEPTS LIMITED

LAN CONCEPTS LIMITED (Registered number: 03988198)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LAN CONCEPTS LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTORS: K Clark
M F Culver





SECRETARY: Mrs R J Clark





REGISTERED OFFICE: May Lodge
Park Lane
Cane End
Reading
Berkshire
RG4 9HP





REGISTERED NUMBER: 03988198 (England and Wales)





ACCOUNTANTS: Arcadian Accounting Ltd
152 Kidmore End Road
Emmer Green
Reading
Berkshire
RG4 8SP

LAN CONCEPTS LIMITED (Registered number: 03988198)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,714 10,286
Investments 5 101 101
7,815 10,387

CURRENT ASSETS
Debtors 6 717,965 523,985
Cash at bank 228,207 380,612
946,172 904,597
CREDITORS
Amounts falling due within one year 7 135,547 95,304
NET CURRENT ASSETS 810,625 809,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

818,440

819,680

PROVISIONS FOR LIABILITIES 1,466 1,954
NET ASSETS 816,974 817,726

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 816,874 817,626
SHAREHOLDERS' FUNDS 816,974 817,726

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The 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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





K Clark - Director


LAN CONCEPTS LIMITED (Registered number: 03988198)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

LAN CONCEPTS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

LAN CONCEPTS LIMITED (Registered number: 03988198)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 82,681
DEPRECIATION
At 1 June 2023 72,395
Charge for year 2,572
At 31 May 2024 74,967
NET BOOK VALUE
At 31 May 2024 7,714
At 31 May 2023 10,286

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 June 2023
and 31 May 2024 101
NET BOOK VALUE
At 31 May 2024 101
At 31 May 2023 101

6. DEBTORS
31.5.24 31.5.23
£    £   
Amounts falling due within one year:
Trade debtors 114,971 98,637
Paye/NI/CIS repayable - 3,284
Prepayments and accrued income 431 501
115,402 102,422

Amounts falling due after more than one year:
Amounts owed by/to Associates 602,563 421,563

Aggregate amounts 717,965 523,985

LAN CONCEPTS LIMITED (Registered number: 03988198)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 71,998 43,611
Tax 36,347 24,054
Social security and other taxes 3,392 -
VAT 9,209 13,872
Other creditors 6,021 2,998
Directors' current accounts 4,230 6,669
Accrued expenses 4,350 4,100
135,547 95,304

8. RELATED PARTY DISCLOSURES

The Company is under the control of Mr Kevin Clark and Mrs Rebecca Clark who own 65% of the Issued Share Capital. Mr Kevin Clark and Mr Mark Culver are both directors of the Company.


The company is the holding company of Electrical Concepts Ltd (by holding 66.67% of the Issued Share Capital), which is also ultimately under the control of Mr Kevin Clark, Mrs Rebecca Clark and Mr Mark Culver.
At 31st May 2024 the company was owed £4,245 (2023: £5,959) from Electrical Concepts Ltd in respect of arm's length transactions between the two companies.
The total amount of transactions between the two companies were as follows:

£3,538 - sales (2023: £7,530)


The company is the holding company of Property Concepts (Southern) Ltd (by holding 100% of the Issued Share Capital), which is also ultimately under the control of Mr Kevin Clark, Mrs Rebecca Clark and Mr Mark Culver.
The total Loan granted to Property Concepts (Southern) Ltd is £602,563 at 31st May 2024 (2023: £421,563).
At 31st May 2024 the company was owed £6,000 (2023: £0) from Property Concepts (Southern) Ltd in respect of arm's length transactions between the two companies.
The total amount of transactions between the two companies were as follows:

£5,000 - sales (2023: £0)