ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312023-05-10The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activityfalse222022-04-01truetrue 11919065 2022-04-01 2023-03-31 11919065 2021-04-01 2022-03-31 11919065 2023-03-31 11919065 2022-03-31 11919065 c:Director1 2022-04-01 2023-03-31 11919065 d:CurrentFinancialInstruments 2023-03-31 11919065 d:CurrentFinancialInstruments 2022-03-31 11919065 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11919065 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11919065 d:ShareCapital 2023-03-31 11919065 d:ShareCapital 2022-03-31 11919065 d:RetainedEarningsAccumulatedLosses 2023-03-31 11919065 d:RetainedEarningsAccumulatedLosses 2022-03-31 11919065 c:FRS102 2022-04-01 2023-03-31 11919065 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11919065 c:FullAccounts 2022-04-01 2023-03-31 11919065 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11919065 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 11919065

LANE ONE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

LANE ONE LIMITED

REGISTERED NUMBER: 11919065

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2023

		2023		2022
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	16,634		12,250
Cash at bank and in hand	5	11,975		30,860
		28,609		43,110
Creditors: amounts falling due within one year	6	(25,443)		(35,311)
Net current assets			3,166		7,799
Total assets less current liabilities			3,166		7,799

Net assets			3,166		7,799

Capital and reserves
Called up share capital	10	10
Profit and loss account	3,156	7,789
	3,166	7,799

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LANE ONE LIMITED

REGISTERED NUMBER: 11919065

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2023

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 her 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 income and retained earnings 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 10 May 2023.

S Vaughan

Director

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

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LANE ONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.Accounting policies

1.1

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 Companies Act 2006.

The presentational currency of the Company is GBP.

The following principal accounting policies have been applied:

1.2

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.

1.3

Interest income

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

1.4

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

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LANE ONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.Accounting policies (continued)

1.5

Taxation

Tax is recognised in profit or loss 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.

1.6

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.

1.7

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.

1.8

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.

1.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

1.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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LANE ONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.	General information

Lane One Limited is a private company, limited by shares and registered in England.
Its registered number is: 11919065
The address of its Registered office is:
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Debtors

					2023	2022
					£	£


Trade debtors	16,200	12,150
Prepayments and accrued income	434	100
	16,634	12,250

5.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	11,975	30,860
	11,975	30,860

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LANE ONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Corporation tax	8,296	11,569
Other taxation and social security	5,019	6,775
Other creditors	10,428	15,617
Accruals and deferred income	1,700	1,350
	25,443	35,311

7.	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. The pension cost charge represents contributions payable by the Company to the fund and amounted to £23,184 (2022 - £23,184).

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