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REGISTERED NUMBER: 07825204 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LIPKIN LIMITED

LIPKIN LIMITED (REGISTERED NUMBER: 07825204)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LIPKIN LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: Mr M D Paun
Ms S Paun





SECRETARY: Ms S Paun





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 07825204 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

LIPKIN LIMITED (REGISTERED NUMBER: 07825204)

ABRIDGED BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 113,750 130,000
Tangible assets 5 121 161
113,871 130,161

CURRENT ASSETS
Stocks 17,000 16,500
Debtors 194,214 20,526
Cash at bank and in hand 156,771 295,027
367,985 332,053
CREDITORS
Amounts falling due within one year 102,184 123,519
NET CURRENT ASSETS 265,801 208,534
TOTAL ASSETS LESS CURRENT
LIABILITIES

379,672

338,695

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 379,572 338,595
SHAREHOLDERS' FUNDS 379,672 338,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

LIPKIN LIMITED (REGISTERED NUMBER: 07825204)

ABRIDGED BALANCE SHEET - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





Mr M D Paun - Director


LIPKIN LIMITED (REGISTERED NUMBER: 07825204)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Lipkin 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. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of goods and prescription services, excluding value added tax

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on 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.

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

LIPKIN LIMITED (REGISTERED NUMBER: 07825204)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024
and 31 December 2024 325,000
AMORTISATION
At 1 January 2024 195,000
Amortisation for year 16,250
At 31 December 2024 211,250
NET BOOK VALUE

At 31 December 2024 113,750
At 31 December 2023 130,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024
and 31 December 2024 5,098
DEPRECIATION
At 1 January 2024 4,937
Charge for year 40
At 31 December 2024 4,977
NET BOOK VALUE
At 31 December 2024 121
At 31 December 2023 161

LIPKIN LIMITED (REGISTERED NUMBER: 07825204)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Mr M D Paun
Balance outstanding at start of year (42,743 ) 91,541
Amounts advanced 219,741 -
Amounts repaid - (134,284 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 176,998 (42,743 )

The above balance has been repaid since the balance sheet date.