Company Registration No. 06575938 (England and Wales)
Lorraine Michelle Copeland Limited
Unaudited accounts
for the year ended 31 March 2022
Lorraine Michelle Copeland Limited
Unaudited accounts
Contents
Lorraine Michelle Copeland Limited
Company Information
for the year ended 31 March 2022
Director
Lorraine Michelle Copeland
Secretary
Josephine Celine Copeland
Company Number
06575938 (England and Wales)
Registered Office
35 Gripps Common
Cotgrave
Nottingham
NG12 3TF
ENGLAND
Accountants
Net Accountancy Solutions Limited
35 Gripps Common
Cotgrave
Nottingham
Nottinghamshire
NG12 3TF
Lorraine Michelle Copeland Limited
Statement of financial position
as at 31 March 2022
Cash at bank and in hand
32,842
3,932
Creditors: amounts falling due within one year
(18,338)
(4,150)
Net current assets/(liabilities)
25,379
(218)
Net assets/(liabilities)
25,792
(218)
Called up share capital
100
100
Profit and loss account
25,692
(318)
Shareholders' funds
25,792
(218)
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 December 2022 and were signed on its behalf by
Lorraine Michelle Copeland
Director
Company Registration No. 06575938
Lorraine Michelle Copeland Limited
Notes to the Accounts
for the year ended 31 March 2022
Lorraine Michelle Copeland Limited is a private company, limited by shares, registered in England and Wales, registration number 06575938. The registered office is 35 Gripps Common, Cotgrave, Nottingham, NG12 3TF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The company operates the VAT Flat Rate scheme and turnover is shown net of the appropriate VAT percentage.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated
reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.33% straight line
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Lorraine Michelle Copeland Limited
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Computer equipment
Amounts falling due after more than one year
Accrued income and prepayments
615
-
6
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
16,078
(2,414)
Loans from directors
1,060
5,844
7
Transactions with related parties
Various amounts were loaned to and from the company during the year. At the end of the year the company owed the director £1,060 (2021: £5,844). The loan is interest free and repayable on demand.
8
Average number of employees
During the year the average number of employees was 1 (2021: 1).
