REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 3 JULY 2023 TO 30 JUNE 2024 |
FOR |
LABOUR TOGETHER PROJECTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 3 JULY 2023 TO 30 JUNE 2024 |
FOR |
LABOUR TOGETHER PROJECTS LIMITED |
LABOUR TOGETHER PROJECTS LIMITED (REGISTERED NUMBER: 14974951) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 3 July 2023 to 30 June 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
LABOUR TOGETHER PROJECTS LIMITED |
COMPANY INFORMATION |
for the Period 3 July 2023 to 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Langley House |
Park Road |
East Finchley |
London |
N2 8EY |
LABOUR TOGETHER PROJECTS LIMITED (REGISTERED NUMBER: 14974951) |
STATEMENT OF FINANCIAL POSITION |
30 June 2024 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
LABOUR TOGETHER PROJECTS LIMITED (REGISTERED NUMBER: 14974951) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 3 July 2023 to 30 June 2024 |
1. | STATUTORY INFORMATION |
Labour Together Projects Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the sale of services are recognised when the significant risks and rewards of ownership of the service have transferred to the buyer, usually when the service has been provided. The amount of revenue must be able to be measured reliably, it is considered probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably |
Financial instruments |
The company only enters into basic financial instruments 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, loans to related parties and investments in non-puttable ordinary shares. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
LABOUR TOGETHER PROJECTS LIMITED (REGISTERED NUMBER: 14974951) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 3 July 2023 to 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
Included in debtors due within one year are prepayments of £2,200 and accrued income of £148,750. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Included in creditors due within one year are accrued expenses of £3,500. |
6. | ULTIMATE CONTROLLING PARTY |
The company is under the control of parent company, Labour Together Limited and the registered office is Langley House, Park Road, London, N2 8EY |