Company registration number 01420482 (England and Wales)
LAPRA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
LAPRA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LAPRA LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
5
15,715
34,292
Investments
6
1
1
Cash at bank and in hand
208,959
154,230
224,675
188,523
Creditors: amounts falling due within one year
7
(125,016)
(106,213)
Net current assets
99,659
82,310
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
99,559
82,210
Total equity
99,659
82,310
For the financial 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.
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 Companies Act 2006 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.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 16 May 2025 and are signed on its behalf by:
Mr M Terry
Director
Company registration number 01420482 (England and Wales)
LAPRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
LAPRA Limited is a private company limited by shares incorporated in England and Wales. The registered office is 88 Hill Village Road, Four Oaks, Sutton Coldfield, West Midlands, England, B75 5 BE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents subscriptions from the residents of Little Aston Park.
1.3
Intangible fixed assets other than goodwill
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Computer software is being amortised evenly over its estimated useful life of three years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% reducing balance
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
LAPRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
5
3
Intangible fixed assets
Other
£
Cost
At 1 September 2023 and 31 August 2024
3,762
Amortisation and impairment
At 1 September 2023 and 31 August 2024
3,762
Carrying amount
At 31 August 2024
At 31 August 2023
LAPRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 and 31 August 2024
290
Depreciation and impairment
At 1 September 2023 and 31 August 2024
290
Carrying amount
At 31 August 2024
At 31 August 2023
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
14,117
32,792
Other debtors
1,598
1,500
15,715
34,292
The directors have considered the recoverability of trade debtors and have provided for some bad or doubtful debts. The directors will continue to pursue these older balances.
6
Current asset investments
2024
2023
£
£
Shares in group undertakings
1
1
7
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
200
74
Other creditors
124,816
106,139
125,016
106,213
Within creditors and cash is £117,021 (2023: £98,638) of security fees paid in advance by residents, which will be paid to the security provider after the year-end. These monies are held on behalf of the security scheme operating in Little Aston Park.
LAPRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Ultimate controlling party
The company is controlled by its directors for the benefit of the residents of Little Aston Park.