Lords Consultancy Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04868318 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Lords Consultancy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C J Lord

J W Lord

SECRETARY:

J W Lord

REGISTERED OFFICE:

Suite 2

12 Princess Street

Knutsford

Cheshire

WA16 6DD

REGISTERED NUMBER:

04868318 (England and Wales)

ACCOUNTANTS:

Boardman Conway

23A High Street

Weaverham

Northwich

Cheshire

CW8 3HA

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

622

2,435

622

2,435

CURRENT ASSETS

Stocks

44,890

44,290

Debtors

6

81,181

98,245

Cash in hand

90

70

126,161

142,605

CREDITORS

Amounts falling due within one year

7

123,379

134,422

NET CURRENT ASSETS

2,782

8,183

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,404

10,618

CREDITORS

Amounts falling due after more than one
year

8

(2,822

)

(9,476

)

PROVISIONS FOR LIABILITIES

(118

)

(463

)

NET ASSETS

464

679

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

364

579

SHAREHOLDERS' FUNDS

464

679

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2025 and were signed on its behalf by:

Mrs C J Lord - Director

J W Lord - Director

1.	STATUTORY INFORMATION

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

Income is recognised when the company obtains the right to consideration for services performed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

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.

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% straight line

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment losses, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the assets belongs.

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress is valued at selling price, with profit on long term contracts being accrued over the period of the contract.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

15,000

AMORTISATION

At 1 January 2024

and 31 December 2024

15,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

20,117

Additions

548

At 31 December 2024

20,665

DEPRECIATION

At 1 January 2024

17,682

Charge for year

2,361

At 31 December 2024

20,043

NET BOOK VALUE

At 31 December 2024

622

At 31 December 2023

2,435

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

31,821

56,468

Corporation tax refund

4,557

Directors' current accounts

43,884

37,220

Prepayments

919

-

81,181

98,245

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

32,847

18,722

Trade creditors

16,381

22,405

Tax

33,779

49,942

Social security and other taxes

2,277

1,278

VAT

20,832

22,745

Credit card

12,541

14,985

Accrued expenses

4,722

4,345

123,379

134,422

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans - 1-2 years

2,822

6,654

Bank loans - 2-5 years

-

2,822

9,476

9.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of the staff. The assets of the scheme are held separately from those of the company in an independently administered fund. There were contributions outstanding at 31 December 2024 of £398 (2023 - £380).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.12.24

31.12.23

£

Mrs C J Lord

Balance outstanding at start of year

18,610

12,981

Amounts advanced

66,677

73,270

Amounts repaid

(63,345

)

(67,641

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

21,942

18,610

J W Lord

Balance outstanding at start of year

18,610

12,981

Amounts advanced

66,677

73,270

Amounts repaid

(63,345

)

(67,641

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

21,942

18,610

11.	OPERATING LEASES

At 31 December 2024 the company had commitments under operating leases of £2,384 (2023 - £8,884).