ACCOUNTS - Final Accounts preparation

Registered number: 02605840

L.P. & P. MANAGEMENT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

L.P. & P. MANAGEMENT LIMITED

REGISTERED NUMBER: 02605840

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	5		8,994		12,087
			8,994		12,087
Current assets
Debtors: amounts falling due within one year	6	20,565		34,929
Cash at bank and in hand	7	17,241		8,727
		37,806		43,656
Creditors: amounts falling due within one year	8	(43,045)		(56,242)
Net current liabilities			(5,239)		(12,586)
Total assets less current liabilities			3,755		(499)
Creditors: amounts falling due after more than one year	9		(2,250)		(5,173)

Net assets/(liabilities)			1,505		(5,672)

Capital and reserves
Called up share capital	100	100
Profit and loss account	1,405	(5,772)
	1,505	(5,672)

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L.P. & P. MANAGEMENT LIMITED

REGISTERED NUMBER: 02605840

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 SEPTEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements 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 financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 September 2025.

Dana Genis

Director

The notes on pages 3 to 6 form part of these financial statements.

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L.P. & P. MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.	General information

L.P. & P. Management Limited is a private company limited by shares incorporated in England & Wales (registered number 02605840). The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH. The financial statements are presented in Sterling, which is the functional currency of the company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The Financial statements have been prepared on a going concern basis which assumed that the company will continue in operational existence for the foreseeable future.
The commpany has net liabilities at the balance sheet date. The director has agreed to ensure funds are available to support trading and to pay its liabilities.
The director believes that it is therefore appropriate for the financial statements to be prepared on the going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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L.P. & P. MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.5

Finance costs

Finance costs are charged to profit or loss 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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery	-	25%	Straight-line
Motor vehicles	-	20%	Straight-line
Computer equipment	-	25%	Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

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.

2.10

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.

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L.P. & P. MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

4.	Taxation

		2024	2023
		£	£



Total current tax	-	-

	Factors affecting tax charge for the year
	There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 19% (2023 - 19%).

5.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 October 2023	36,129	10,985	-	47,114
Additions	-	-	776	776
At 30 September 2024	36,129	10,985	776	47,890
Depreciation
At 1 October 2023	32,829	2,198	-	35,027
Charge for the year on owned assets	1,650	2,197	22	3,869
At 30 September 2024	34,479	4,395	22	38,896
Net book value
At 30 September 2024	1,650	6,590	754	8,994
At 30 September 2023	3,300	8,787	-	12,087

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L.P. & P. MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	19,725	34,393
Prepayments and accrued income	840	536
	20,565	34,929

7.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	17,241	8,727
	17,241	8,727

8.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	3,000	3,000
Other taxation and social security	3,509	1,640
Other creditors	31,199	50,902
Accruals and deferred income	5,337	700
	43,045	56,242

9.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	2,250	5,173
	2,250	5,173

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