REGISTERED NUMBER: 08958695 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

LAPCO CONSULTANCY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T D Cecil

M G Coleman

SECRETARY:

E A Sinclair

REGISTERED OFFICE:

3 The Courtyard

Shapwick

Bridgwater

Somerset

TA7 9LQ

REGISTERED NUMBER:

08958695 (England and Wales)

ACCOUNTANTS:

LK Davies Limited

3 The Courtyard

Shapwick

Bridgwater

Somerset

TA7 9LQ

FIXED ASSETS

Tangible assets

4

3,394

3,596

CURRENT ASSETS

Debtors

5

6,500

18,915

Cash at bank

9,362

44,495

15,862

63,410

CREDITORS

Amounts falling due within one year

6

12,373

48,573

NET CURRENT ASSETS

3,489

14,837

TOTAL ASSETS LESS CURRENT LIABILITIES

6,883

18,433

CREDITORS

Amounts falling due after more than one year

7

1,601

6,459

NET ASSETS

5,282

11,974

CAPITAL AND RESERVES

Called up share capital

2

2

Other reserves

6,799

6,799

Retained earnings

(1,519

)

5,173

5,282

11,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 8 October 2025 and were signed on its behalf by:

T D Cecil - Director

1.	STATUTORY INFORMATION

Lapco Consultancy Ltd 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.

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.

Training & Consultancy

Revenue is recognised when training service is delivered or by reference to the stage of completion at the end of a accounting period.

Software services

Revenue is earned for the provision of services, per organisation and users associated with the organisation, over a contractual period. The customer is required to make payments to continue to benefit from the service. In the event that they cease paying they lose the legal right to continue to use the software. The company can restrict or stop the use of the software. Income is recognised on a straight line basis over the term of the contract.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current 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 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.

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.

Share based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest.

Other reserves

The company maintains a share option reserve.

Costs

Software development costs

Qualify for capitalisation when can demonstrate:

technical feasibility of completing the development so that a first version (V1) will be available to use or licence

intention to complete the development of V1 so available to use or licence

ability to use or licence the intangible

how the intangible asset will generate probable future economic benefits

existence of a market for the intangible asset

availability of adequate technical, financial and other resources to complete the development

ability to measure reliably the expenditure attributable to the development of the intangible asset.

Commercial viability of new products is not proven until all high risk development issues are resolved through testing and resolution of prelaunch versions. This occurs just before software service is made available for . licence. Accordingly development costs are not capitalised.

Expenditure incurred to enhance a software service after general release is expensed to profit and loss account as incurred and included in research and development costs in the profit and loss account.

Consultancy

Costs incurred that are directly attributable to enhancements provided to customers are included in cost of sales consultancy.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

7,971

Additions

880

At 31 January 2025

8,851

DEPRECIATION

At 1 February 2024

4,375

Charge for year

1,082

At 31 January 2025

5,457

NET BOOK VALUE

At 31 January 2025

3,394

At 31 January 2024

3,596

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

6,500

18,915

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,858

4,739

Trade creditors

-

3,676

Taxation and social security

2,008

2,061

Other creditors

5,507

38,097

12,373

48,573

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,601

6,459

8.	SHARE-BASED PAYMENT TRANSACTIONS

During the year ended 31 January 2021 the company established a EMI Share Option Scheme and granted options over 7,778 D ordinary shares. The options vest over a four year period based on the performance target achievement. At the end of the financial year options over 7,778 shares were exercisable.