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Lancia Consulting Limited

Registered number: 09142551
Information for filing with Registrar
For the year ended 31 December 2024

 
 09142551
31 December 2024
LANCIA CONSULTING LIMITED
REGISTERED NUMBER: 09142551

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

Audited
2024
Unaudited 2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
918,952
1,092,958

Cash and cash equivalents
  
172,095
10,377

  
1,091,047
1,103,335

Creditors: amounts falling due within one year
 5 
(955,161)
(1,071,527)

Net current assets
  
 
 
135,886
 
 
31,808

Total assets less current liabilities
  
135,886
31,808

Creditors: amounts falling due after more than one year
 6 
(13,091)
(23,274)

Net assets
  
122,795
8,534


Capital and reserves
  

Called up share capital 
 8 
10
10

Profit and loss account
  
122,785
8,524

Total equity
  
122,795
8,534


The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The  were approved and authorised for issue by the board and were signed on its behalf by: 



J O Cronkshaw
Director

Date: 11 June 2025

The notes on pages 2 to 8 form part of these financial statements.
- 1 -

 
 09142551
31 December 2024
LANCIA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Lancia Consulting Limited is a private company limited by shares and incorporated in England and Wales. The Company's registered number is 09142551. The address of its registered office is 124 City Road, London, United Kingdom, EC1V 2NX.
The principal activity of the Company is that of business and technology consultancy. 
The prior year financial statements for the Company were unaudited.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements of the Companies Act 2006

The financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the Company operates and is rounded to the nearest pound. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has assessed the Company's ability to continue as a going concern and has a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of signing these financial statements. In doing this, the director has considered the results for the period, expectations of future trading and the availability of continued funding. On the basis of this information the director is satisfied that the Company will continue as a going concern and so the financial statements have been prepared on this basis.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

- 2 -

 
 09142551
31 December 2024
LANCIA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentation currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income.

All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'administrative expenses'.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest receivable and similar income

Interest receivable and similar income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.7

Interest payable and similar expenses

Interest payable and similar expenses are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. 

 
2.8

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive in the year in which they are incurred.

- 3 -

 
 09142551
31 December 2024
LANCIA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in other creditors as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

- 4 -

 
 09142551
31 December 2024
LANCIA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is identified, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and its recoverable amount, which is an estimate of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a rate of interest.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transactions price and subsequently measured at amortised costs.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including the directors, during the year was 44 (2023: 38).

- 5 -

 
 09142551
31 December 2024
LANCIA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Debtors: amounts falling due within one year

Audited 2024
Unaudited 2023
£
£


Trade debtors
780,495
1,060,974

Amounts owed by group undertakings
-
942

Other debtors
90,334
31,042

Prepayments and accrued income
48,123
-

918,952
1,092,958


Amounts owed by group undertakings are unsecured, interest free and payable within one year.


5.


Creditors: amounts falling due within one year

Audited 2024
Unaudited 2023
£
£

Bank loans
10,183
9,932

Trade creditors
48,221
56,779

Amounts owed to group undertakings
312,071
469,338

Other taxation and social security
179,662
235,046

Other creditors
56,716
124,447

Accruals and deferred income
348,308
175,985

955,161
1,071,527


Amounts owed to group undertakings are unsecured, interest free and repayable within one year. 


6.


Creditors: amounts falling due after more than one year

Audited 2024
Unaudited 2023
£
£

Bank loans
13,091
23,274


- 6 -

 
 09142551
31 December 2024
LANCIA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Loans


Analysis of the maturity of loans is given below:


Audited 2024
Unaudited 2023
£
£

Amounts falling due within one year

Bank loans
10,183
9,932

Amounts falling due 2-5 years

Bank loans
13,091
23,274

23,274
33,206


The above loan was received under the coronavirus business interruption loan scheme.

8.


Called up share capital

Audited
2024
Unaudited 2023
£
£
Allotted, called up and fully paid



10 (2023: 10) ordinary shares of £1 each
10
10

The Company has one class of ordinary shares; each share carries full voting and dividend rights.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £29,626 (2023: £24,638) were payable to the fund at the reporting date and are included in other creditors.

- 7 -

 
 09142551
31 December 2024
LANCIA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Audited 2024
Unaudited 2023
£
£


Not later than 1 year
258,180
74,872

Later than 1 year and not later than 5 years
298,668
-

556,848
74,872



11.


Related party transactions

The Company is exempt from disclosing related party transactions undertaken with other wholly owned members of the group that have been concluded under normal market conditions.


12.


Controlling party

The immediate parent company and ultimate controlling party is Lancia Consult PTE Ltd, a Company incorporated in Singapore. Lancia Consult PTE Ltd prepares consolidated accounts which include the results of the Company and copies of the group accounts can be obtained from Lancia Consult PTE Ltd, 50 Raffles Place, Singapore Land Tower, Level 30, Singapore, 048623.


13.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 12 June 2025 by  (Senior statutory auditor) on behalf of Sayers Butterworth LLP.

- 8 -