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REGISTERED NUMBER: 11790513 (England and Wales)














Lasource Automotive Limited

Unaudited Financial Statements

for the Year Ended 31 January 2025






Lasource Automotive Limited (Registered number: 11790513)

Contents of the Financial Statements
for the Year Ended 31 January 2025










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 4


Lasource Automotive Limited

Company Information
for the Year Ended 31 January 2025







Director: J M Banks





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: St Guthlac's Lodge
Crowland
Peterborough
Cambs
PE6 0JP





Registered number: 11790513 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Lasource Automotive Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Director's report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lasource Automotive Limited for the year ended 31 January 2025 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Lasource Automotive Limited in accordance with the terms of our engagement letter dated 15 June 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Lasource Automotive Limited and state those matters that we have agreed to state to the director of Lasource Automotive Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lasource Automotive Limited and its director for our work or for this report.

It is your duty to ensure that Lasource Automotive Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lasource Automotive Limited. You consider that Lasource Automotive Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lasource Automotive Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


27 May 2025

Lasource Automotive Limited (Registered number: 11790513)

Statement of Financial Position
31 January 2025

2025 2024
Notes £    £    £   
Fixed assets
Tangible assets 5 999 878

Current assets
Debtors 6 85,800 1,692
Cash at bank 169,013 33,188
254,813 34,880
Creditors
Amounts falling due within one year 7 113,726 4,213
Net current assets 141,087 30,667
Total assets less current liabilities 142,086 31,545

Provisions for liabilities 250 -
Net assets 141,836 31,545

Capital and reserves
Called up share capital 8 50,000 50,000
Retained earnings 91,836 (18,455 )
Shareholders' funds 141,836 31,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 May 2025 and were signed by:



J M Banks - Director


Lasource Automotive Limited (Registered number: 11790513)

Notes to the Financial Statements
for the Year Ended 31 January 2025


1. Statutory information

Lasource Automotive Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 1 (2024 - 1 ) .

Lasource Automotive Limited (Registered number: 11790513)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025


5. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 February 2024 2,642
Additions 616
At 31 January 2025 3,258
Depreciation
At 1 February 2024 1,764
Charge for year 495
At 31 January 2025 2,259
Net book value
At 31 January 2025 999
At 31 January 2024 878

6. Debtors: amounts falling due within one year
2025 2024
£    £   
Trade debtors 70,800 -
Other debtors 15,000 -
VAT - 212
Deferred tax asset - 1,480
85,800 1,692

7. Creditors: amounts falling due within one year
2025 2024
£    £   
Trade creditors 3,122 1,960
Tax 69,972 -
VAT 37,632 -
Directors' loan accounts 1,000 253
Accruals and deferred income 2,000 2,000
113,726 4,213

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
35,000 A Ordinary £1 35,000 35,000
5,000 B Ordinary £1 5,000 5,000
5,000 C Ordinary £1 5,000 5,000
5,000 D Ordinary £1 5,000 5,000
50,000 50,000