Related Party Transactions
Included within Current assets is an amount totalling £2,901 (2023: £2,700) owed from Lawrence Rhoad Ltd a company in which the director Mr L Lawrence is also a director.
Included within Current assets is an amount totalling £486 (2023: £486) owed from Lawrence Rhoad Holdings Ltd a company in which the director Mr L Lawrence is also a director and 50% shareholder.
Included within Current assets is an amount totalling £1,890 (2023: £1,458) owed from Lawrence Rhoad Rentals Ltd a company in which the director Mr L Lawrence is also a director.
Included within Current assets is an amount totalling £1,864 (2023: £1,714) owed from LDOT Digital Studios Ltd a company in which the director Mr L Lawrence is also a director and 100% shareholder.
Prior Period Adjusment
The following adjustments were made to comparative figures shown in these financial statements:
Adjusment to Creditors: Amounts Falling Due Within One Year
Management have identified an error in the value of creditors: amounts falling due within one year at the previous year end.
The correction of this error has resulted in an increase of £1,829 in creditors: amounts falling due within one year, a decrease of £2,770 in rents received, a increase in management fees received of £415 and a decrease in cost of raw materials and consumables of £526 for the year then ended.
This adjustment results in a decrease in profit of £1,829 for the comparative period.