Company Registration No. SC698645 (Scotland)
Dr Laurent Bannock Limited
Unaudited accounts
for the period from 1 February 2023 to 30 January 2024
Dr Laurent Bannock Limited
Unaudited accounts
Contents
Dr Laurent Bannock Limited
Company Information
for the period from 1 February 2023 to 30 January 2024
Company Number
SC698645 (Scotland)
Registered Office
38 Inverleith Row
Edinburgh
EH3 5PY
Dr Laurent Bannock Limited
Statement of financial position
as at 30 January 2024
Cash at bank and in hand
1,760
577
Creditors: amounts falling due within one year
(13,668)
(6,421)
Net current assets
1,207
2,212
Called up share capital
1
1
Profit and loss account
1,702
2,211
Shareholders' funds
1,703
2,212
For the period ending 30 January 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 director acknowledges his 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 and authorised for issue on 31 July 2024 and were signed on its behalf by
L G Bannock
Director
Company Registration No. SC698645
Dr Laurent Bannock Limited
Notes to the Accounts
for the period from 1 February 2023 to 30 January 2024
Dr Laurent Bannock Limited is a private company, limited by shares, registered in Scotland, registration number SC698645. The registered office is 38 Inverleith Row, Edinburgh, EH3 5PY.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The Directors have considered the Company's position at the time of signing of the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation the Company will have adequate resources to continue in operation existence for the foreseeable future and there therefore continue to adopt the going concern basis of the accounting in preparing thee financial statements.
The Company only enters into basic financial instrument 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, loan to related parties and investments in ordinary shares.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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:
Computer equipment
33% straight line
Cash is represented by cash in hand and deposits with financial institutions repayable within penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible know amounts of cash with insignificant risk of change in value.
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transactions costs, and are measure subsequently at amortised cost using the effective interest method.
Dr Laurent Bannock Limited
Notes to the Accounts
for the period from 1 February 2023 to 30 January 2024
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 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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Amounts due from group undertakings etc.
8,056
8,056
6
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
13,488
2,165
Taxes and social security
-
3,145
Dr Laurent Bannock Limited
Notes to the Accounts
for the period from 1 February 2023 to 30 January 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Net balance of funds introduced and withdrawn in the period, which has been repaid by 24 July 2024.
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Transactions with related parties
The company has taken advantage of the exemption in Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions with wholly owned companies within the group.
The company has also had expenses paid on its behalf by an associated company The IOPN Limited to the value of £13,536 of which £13,488 is still outstanding at the year end.
The ultimate parent company is Bannock Holdings Ltd (10904001). The registered office is 463-465 High Street, Lincoln, England, LN5 8JB.
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Average number of employees
During the period the average number of employees was 1 (2023: 1).