IRIS Accounts Production v24.3.2.46 06572176 Board of Directors Board of Directors 1.5.23 30.4.24 30.4.24 0 true false true false false true false Fair value model Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh065721762023-04-30065721762024-04-30065721762023-05-012024-04-30065721762022-04-30065721762022-05-012023-04-30065721762023-04-3006572176ns15:EnglandWales2023-05-012024-04-3006572176ns14:PoundSterling2023-05-012024-04-3006572176ns10:Director12023-05-012024-04-3006572176ns10:Director22023-05-012024-04-3006572176ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3006572176ns10:SmallEntities2023-05-012024-04-3006572176ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3006572176ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3006572176ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3006572176ns10:FullAccounts2023-05-012024-04-3006572176ns10:OrdinaryShareClass12023-05-012024-04-3006572176ns10:CompanySecretary12023-05-012024-04-3006572176ns10:RegisteredOffice2023-05-012024-04-3006572176ns5:CurrentFinancialInstruments2024-04-3006572176ns5:CurrentFinancialInstruments2023-04-3006572176ns5:ShareCapital2024-04-3006572176ns5:ShareCapital2023-04-3006572176ns5:RetainedEarningsAccumulatedLosses2024-04-3006572176ns5:RetainedEarningsAccumulatedLosses2023-04-3006572176ns5:FurnitureFittings2023-05-012024-04-3006572176ns5:FurnitureFittings2023-04-3006572176ns5:FurnitureFittings2024-04-3006572176ns5:FurnitureFittings2023-04-3006572176ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3006572176ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3006572176ns5:Non-currentFinancialInstruments2024-04-3006572176ns5:Non-currentFinancialInstruments2023-04-3006572176ns5:MoreThanFiveYears2024-04-3006572176ns5:MoreThanFiveYears2023-04-3006572176ns5:DeferredTaxation2023-04-3006572176ns5:DeferredTaxation2024-04-3006572176ns10:OrdinaryShareClass12024-04-3006572176ns5:RetainedEarningsAccumulatedLosses2023-04-3006572176ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-30
REGISTERED NUMBER: 06572176 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

LATENITE LIMITED

LATENITE LIMITED (REGISTERED NUMBER: 06572176)

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


LATENITE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: S Chaudary
M Eshak



SECRETARY: M Eshak



REGISTERED OFFICE: 2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



REGISTERED NUMBER: 06572176 (England and Wales)



ACCOUNTANTS: Ashcrofts Accountants Limited
2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



BANKERS: Lloyds Bank plc
293 High Street
West Bromwich
West Midlands
B70 8NA

LATENITE LIMITED (REGISTERED NUMBER: 06572176)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,041 1,301
Investment property 5 494,750 494,750
495,791 496,051

CURRENT ASSETS
Debtors 6 965,305 1,017,727
Cash at bank and in hand 376,931 337,196
1,342,236 1,354,923
CREDITORS
Amounts falling due within one year 7 (226,150 ) (234,930 )
NET CURRENT ASSETS 1,116,086 1,119,993
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,611,877

1,616,044

PROVISIONS FOR LIABILITIES 9 - (247 )
NET ASSETS 1,611,877 1,615,797

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 1,611,777 1,615,697
SHAREHOLDERS' FUNDS 1,611,877 1,615,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

LATENITE LIMITED (REGISTERED NUMBER: 06572176)

BALANCE SHEET - continued
30 APRIL 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:




S Chaudary - Director



M Eshak - Director


LATENITE LIMITED (REGISTERED NUMBER: 06572176)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Latenite 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.
Fixtures, fittings & equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

LATENITE LIMITED (REGISTERED NUMBER: 06572176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 4 ).

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
At 1 May 2023
and 30 April 2024 14,464
DEPRECIATION
At 1 May 2023 13,163
Charge for year 260
At 30 April 2024 13,423
NET BOOK VALUE
At 30 April 2024 1,041
At 30 April 2023 1,301

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 494,750
NET BOOK VALUE
At 30 April 2024 494,750
At 30 April 2023 494,750

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 4,313 5,384
Other debtors 760,283 812,303
Corporation tax recoverable 2,608 2,608
VAT 1,210 1,207
Deferred tax asset 666 -
769,080 821,502

Amounts falling due after more than one year:
Other debtors 196,225 196,225

Aggregate amounts 965,305 1,017,727

LATENITE LIMITED (REGISTERED NUMBER: 06572176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 125,546 125,621
Corporation tax - 3,219
Other creditors 34,800 34,800
Directors' loan accounts 62,196 62,196
Accruals and deferred income 3,608 9,094
226,150 234,930

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
In more than five years 8,400 8,400

9. PROVISIONS FOR LIABILITIES
2023
£   
Deferred tax 247

Deferred
tax
£   
Balance at 1 May 2023 247
Credited during the year (913 )
Balance at 30 April 2024 (666 )

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Shares £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 May 2023 1,615,697
Deficit for the year (3,920 )
At 30 April 2024 1,611,777

LATENITE LIMITED (REGISTERED NUMBER: 06572176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30 April 2024, there was a loan from Dr S Chaudary of £37,265 (2023: £37,265). This unsecured loan is interest free and repayable on demand.

At 30 April 2024, there was a loan from Mr M Eshak of £24,931 (2023: £24,931). This unsecured loan is interest free and repayable on demand.

13. RELATED PARTY DISCLOSURES

At 30 April 2024, there was a loan to Prescriptions 2 U Ltd of £218,893 (2023: £218,893), a company in which Mr M Eshak is a director. This unsecured loan is interest free and repayable on demand.

At 30 April 2024, there was a loan to Meba Services Limited of £196,225 (2023: £196,225), a company in which Dr S Chaudary and Mr M Eshak are directors. This unsecured loan is interest free and repayable on demand, however, the directors do not anticipate this loan to be repaid in the next 12 months.

At 30 April 2024, there was a loan to Mr Health Limited of £242,140 (2023: £294,160), a company in which Dr S Chaudary and Mr M Eshak are directors. This unsecured loan is interest free and repayable on demand.