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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
Directors
Mr P Child
Mrs K Nightingale
Company number 08583024
Registered office 10 Cliff Parade
Wakefield
West Yorkshire
WF1 2TA
Accountants Streets Andrew Wright
10 Cliff Parade
Wakefield
West Yorkshire
WF1 2TA
Letting Complete Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 45,949 53,315
_______ _______
45,949 53,315
Current assets
Debtors 6 320,091 273,353
Cash at bank and in hand 160,322 141,846
_______ _______
480,413 415,199
Creditors: amounts falling due
within one year 7 ( 548,965) ( 522,171)
_______ _______
Net current liabilities ( 68,552) ( 106,972)
_______ _______
Total assets less current liabilities ( 22,603) ( 53,657)
Creditors: amounts falling due
after more than one year 8 ( 35,174) ( 40,455)
_______ _______
Net liabilities ( 57,777) ( 94,112)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 57,877) ( 94,212)
_______ _______
Shareholders deficit ( 57,777) ( 94,112)
_______ _______
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:
- 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;
- 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:
Leasehold property alterations - 10 % straight line
Fittings fixtures and equipment - 15 % reducing balance
Computers - 33 % straight line
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 ).
5. Tangible assets
Long leasehold property Fixtures, fittings and equipment Computers Total
£ £ £ £
Cost
At 1 July 2023 57,315 24,084 15,496 96,895
Additions - - 516 516
_______ _______ _______ _______
At 30 June 2024 57,315 24,084 16,012 97,411
_______ _______ _______ _______
Depreciation
At 1 July 2023 17,194 10,890 15,496 43,580
Charge for the year 5,731 1,979 172 7,882
_______ _______ _______ _______
At 30 June 2024 22,925 12,869 15,668 51,462
_______ _______ _______ _______
Carrying amount
At 30 June 2024 34,390 11,215 344 45,949
_______ _______ _______ _______
At 30 June 2023 40,121 13,194 - 53,315
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 68,939 43,406
Amounts owed by group undertakings and undertakings in which the company has a participating interest 198,252 151,809
Other debtors 52,900 78,138
_______ _______
320,091 273,353
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 97,954 69,145
Amounts owed to group undertakings and undertakings in which the company has a participating interest 120,879 100,619
Corporation tax 2,677 2,677
Social security and other taxes 93,126 129,117
Other creditors 234,329 220,613
_______ _______
548,965 522,171
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 35,174 40,455
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr P Child ( 922) ( 46) - ( 968)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr P Child ( 6,545) - 5,623 ( 922)
_______ _______ _______ _______