Company registration number 02447383 (England and Wales)
LANSA LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LANSA LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
LANSA LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
2,413,537
2,181,473
Cash at bank and in hand
259,469
284,015
2,673,006
2,465,488
Creditors: amounts falling due within one year
5
(1,668,833)
(1,519,039)
Net current assets
1,004,173
946,449
Creditors: amounts falling due after more than one year
6
(376,063)
(432,357)
Net assets
628,110
514,092
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
628,010
513,992
Total equity
628,110
514,092
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 18 December 2024 and are signed on its behalf by:
Mr R L Chambers III
Director
Company registration number 02447383 (England and Wales)
LANSA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Lansa Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Suite 4, 7th Floor, 50 Broadway, London, WS1H 0DB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Software revenue is recognised when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed and determinable, and collectability is probable. Lansa Ltd enters into certain arrangements where it delivers multiple products and / or services. In these arrangements, it generally allocates the total revenue among the elements based on the sales price of each element when it is sold separately.
Maintenance revenue is recognised over the term specified in the agreement.
Consulting and education services revenues are recognised as the services are provided.
Revenue is recognised net of VAT.
1.3
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
1.4
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.
LANSA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
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.
1.6
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Deferred Income
Deferred income is valued at £1,939,586 and is presented within other creditors both within and due after more than one year. Deferred income represents the company's estimate of advance payments received for services that are to performed in the future under existing contracts.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
7
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
331,274
475,746
Amounts owed by group undertakings
1,335,143
1,007,103
Other debtors
99
204
1,666,516
1,483,053
LANSA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
4
Debtors
(Continued)
- 4 -
2024
2023
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
747,021
698,420
Total debtors
2,413,537
2,181,473
Amounts owed by group undertakings are unsecured and repayable on demand
The Revolving Demand Note to related party (Lansa Inc) issued on 28 April 2021, bears annual interest calculated at 2 % above the Bank of England Base rate and is repayable on or before 12 May 2026 or as the lender may designate. All interest calculations are based on calendar year and days elapsed.
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
7,605
1,886
Corporation tax
23,541
9,100
Other taxation and social security
31,892
40,703
Other creditors
1,605,795
1,467,350
1,668,833
1,519,039
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
376,063
432,357
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
LANSA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
8
Audit report information
(Continued)
- 5 -
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Mr Alan Jones FCCA
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
24 February 2025
10
Ultimate controllong party
The company's parent company is Lansa Holding Inc, a company registered in the United States of America.
The company's ultimate parent company is Idera Parent Sub, L.P., a company registered in the United States of America.
Idera Parent Sub, L.P. is the parent company of the largest and smallest group of which the company is a member and for which group accounts are drawn up. Copies of the financial statements of Idera Parent Sub, L.P. can be obtained from Idera Inc. Creekside,Suite 125, 4001 W Parmer Lane, Austin, TX 78727