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COMPANY REGISTRATION NUMBER: NI657622
LAD73 Ltd
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
LAD73 Ltd
Financial Statements
Year ended 31 March 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
LAD73 Ltd
Officers and Professional Advisers
DIRECTOR
L A Driver
REGISTERED OFFICE
29 Tattenabuddagh Lane
Cooneen
Fivemiletown
Co. Fermanagh
BT75 0NW
ACCOUNTANTS
Streets
Chartered accountants
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedford
MK44 3BZ
LAD73 Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
16,597
453
Current assets
Debtors
6
12,936
1,709
Cash at bank and in hand
8,029
8,080
--------
-------
20,965
9,789
Creditors: amounts falling due within one year
7
45,063
7,830
--------
-------
Net current (liabilities)/assets
( 24,098)
1,959
--------
-------
Total assets less current liabilities
( 7,501)
2,412
Provisions
536
86
-------
-------
Net (liabilities)/assets
( 8,037)
2,326
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 8,137)
2,226
-------
-------
Shareholders (deficit)/funds
( 8,037)
2,326
-------
-------
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.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LAD73 Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
L A Driver
Director
Company registration number: NI657622
LAD73 Ltd
Notes to the Financial Statements
Year ended 31 March 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 29 Tattenabuddagh Lane, Cooneen, Fivemiletown, Co. Fermanagh, BT75 0NW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the going concern basis which assumes the continued support of the directors and company's bank.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of 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 profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and 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:
Equipment
-
33% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 April 2023
1,694
1,694
Additions
16,500
16,500
--------
-------
--------
At 31 March 2024
16,500
1,694
18,194
--------
-------
--------
Depreciation
At 1 April 2023
1,241
1,241
Charge for the year
356
356
--------
-------
--------
At 31 March 2024
1,597
1,597
--------
-------
--------
Carrying amount
At 31 March 2024
16,500
97
16,597
--------
-------
--------
At 31 March 2023
453
453
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
7,375
600
Other debtors
5,561
1,109
--------
-------
12,936
1,709
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,600
Social security and other taxes
1,179
Other creditors
41,463
6,651
--------
-------
45,063
7,830
--------
-------
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in debtors (note 6)
1,661
Included in provisions
( 536)
( 86)
-------
----
1,125
( 86)
-------
----
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
536
86
Unused tax losses
( 1,661)
-------
----
(1,125)
86
-------
----
9. Director's advances, credits and guarantees
The director and a close family member maintain a loan account with the company. At the beginning of the year the company owed the directors £19. During the period the director withdrew £5,920 (2023: £46,928) from the company and repaid £18,703 (2023: £49,342) to the company. At the reporting date the company owed the director and a close family member £12,802.