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Registered Number: 05500861
England and Wales

 

 

 

LAUNCH-UK LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director Mr Marios Zachariou
Registered Number 05500861
Registered Office 101B Lichfield Road
Four Oaks
Birmingham
B74 2RS
Accountants Marneros Marcus & Co Limited
First Floor Hagley Court
40 Vicarage Road Edgbaston
Birmingham
B153EZ
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 15,336    12,366 
15,336    12,366 
Current assets      
Debtors 4 10,584    18,480 
Cash at bank and in hand 60,493    39,994 
71,077    58,474 
Creditors: amount falling due within one year 5 (22,968)   (25,093)
Net current assets 48,109    33,381 
 
Total assets less current liabilities 63,445    45,747 
Creditors: amount falling due after more than one year 6 (9,072)   (13,681)
Net assets 54,373    32,066 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 54,372    32,065 
Shareholders' funds 54,373    32,066 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 22 May 2025 and were signed by:


-------------------------------
Mr Marios Zachariou
Director
2
General Information
LAUNCH-UK LTD is a private company, limited by shares, registered in England and Wales, registration number 05500861, registration address 101B Lichfield Road, Four Oaks, Birmingham, B74 2RS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on the basis that the company is a going concern and that the directors will continue to support the company
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 10% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 September 2023 37,124    37,124 
Additions 4,674    4,674 
Disposals  
At 31 August 2024 41,798    41,798 
Depreciation
At 01 September 2023 24,758    24,758 
Charge for year 1,704    1,704 
On disposals  
At 31 August 2024 26,462    26,462 
Net book values
Closing balance as at 31 August 2024 15,336    15,336 
Opening balance as at 01 September 2023 12,366    12,366 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 10,584    18,480 
10,584    18,480 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 193    205 
Corporation Tax 9,729    11,716 
Other Creditors 6,468    6,809 
Directors' Current Accounts 6,578    6,363 
22,968    25,093 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 9,072    13,681 
9,072    13,681 

3