Company registration number:
08583024
Letting Complete Limited
Unaudited filleted financial statements
30 June 2024
Letting Complete Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Letting Complete Limited
Directors and other information
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Directors |
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Mr P Child |
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Mrs K Nightingale |
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Company number |
08583024 |
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Registered office |
10 Cliff Parade |
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Wakefield |
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West Yorkshire |
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WF1 2TA |
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Accountants |
Streets Andrew Wright |
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10 Cliff Parade |
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Wakefield |
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West Yorkshire |
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WF1 2TA |
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Letting Complete Limited
Statement of financial position
30 June 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
45,949 |
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53,315 |
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_______ |
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_______ |
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45,949 |
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53,315 |
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Current assets |
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Debtors |
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6 |
320,091 |
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273,353 |
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Cash at bank and in hand |
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160,322 |
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141,846 |
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_______ |
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_______ |
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480,413 |
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415,199 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
548,965) |
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(
522,171) |
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_______ |
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_______ |
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Net current liabilities |
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(
68,552) |
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(
106,972) |
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_______ |
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Total assets less current liabilities |
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(
22,603) |
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(
53,657) |
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Creditors: amounts falling due |
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after more than one year |
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8 |
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(
35,174) |
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(
40,455) |
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_______ |
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Net liabilities |
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(
57,777) |
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(
94,112) |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
Profit and loss account |
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(
57,877) |
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(
94,212) |
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_______ |
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Shareholders deficit |
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(
57,777) |
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(
94,112) |
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_______ |
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_______ |
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
28 February 2025
, and are signed on behalf of the board by:
Mr P Child
Director
Company registration number:
08583024
Letting Complete Limited
Notes to the financial statements
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Cliff Parade, Wakefield, West Yorkshire, WF1 2TA.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Leasehold property alterations |
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10 % |
straight line |
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Fittings fixtures and equipment |
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15 % |
reducing balance |
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Computers |
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33 % |
straight line |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satsfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately. Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
9
(2023:
10
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5.
Tangible assets
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Long leasehold property |
Fixtures, fittings and equipment |
Computers |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 July 2023 |
57,315 |
24,084 |
15,496 |
96,895 |
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Additions |
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516 |
516 |
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_______ |
_______ |
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At 30 June 2024 |
57,315 |
24,084 |
16,012 |
97,411 |
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_______ |
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Depreciation |
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At 1 July 2023 |
17,194 |
10,890 |
15,496 |
43,580 |
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Charge for the year |
5,731 |
1,979 |
172 |
7,882 |
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_______ |
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At 30 June 2024 |
22,925 |
12,869 |
15,668 |
51,462 |
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Carrying amount |
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At 30 June 2024 |
34,390 |
11,215 |
344 |
45,949 |
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_______ |
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At 30 June 2023 |
40,121 |
13,194 |
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53,315 |
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_______ |
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6.
Debtors
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2024 |
2023 |
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£ |
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Trade debtors |
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68,939 |
43,406 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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198,252 |
151,809 |
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Other debtors |
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52,900 |
78,138 |
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_______ |
_______ |
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320,091 |
273,353 |
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_______ |
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7.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
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97,954 |
69,145 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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120,879 |
100,619 |
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Corporation tax |
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2,677 |
2,677 |
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Social security and other taxes |
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93,126 |
129,117 |
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Other creditors |
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234,329 |
220,613 |
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_______ |
_______ |
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548,965 |
522,171 |
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_______ |
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8.
Creditors: amounts falling due after more than one year
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2024 |
2023 |
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£ |
£ |
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Bank loans and overdrafts |
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35,174 |
40,455 |
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_______ |
_______ |
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9.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2024 |
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Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
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£ |
£ |
£ |
£ |
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Mr P Child |
(
922) |
(
46) |
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(
968) |
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_______ |
_______ |
_______ |
_______ |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
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£ |
£ |
£ |
£ |
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Mr P Child |
(
6,545) |
- |
5,623 |
(
922) |
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_______ |
_______ |
_______ |
_______ |
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