Landy Partners Limited
Landy Partners Limited
Registered number: 08718203
Financial Statements
For The Year Ended 30 November 2023
Landy Partners Limited
Financial Statements
For The Year Ended 30 November 2023
Financial Statements
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Page | |
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Balance Sheet | 1 |
Notes to the Financial Statements | 2—4 |
Landy Partners Limited
Balance Sheet
As At
30 November 2023
Balance Sheet
Registered number:
08718203
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
CURRENT ASSETS | |||||
Debtors | 3 |
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Investments | 4 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 5 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 6 |
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Share premium account |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 445,594 | 426,700 | |||
On behalf of the board
Director
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The notes on pages 2 to 4 form part of these financial statements.
Landy Partners Limited
Notes to the Financial Statements
For The Year Ended 30 November 2023
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2.
Going Concern Disclosure
For the forseeable future, the Director believes that the company remains a going concern and has adequate fiancial resources to continue in operational existence.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts,rebates, value added tax and other sales taxes.
Turnover represents net invoiced sales of services excluding value added tax.
1.4.
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 non-puttable ordinary shares
1.5.
Foreign Currencies
The Company's functional and presentational currency is GBP
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each year end foreign currency monetary items ere translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
1.6.
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 balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired end the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
1.7.
Pensions
The Company contributes into a defined contribution plan for its employees. The defined contribution plan is a pension plan under which the Company pays fixed contributions to 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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Landy Partners Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2023
1.8.
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.
1.9.
Debtors and creditors
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.
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.
1.10.
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.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2022: 2)
3.
Debtors
2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Other debtors | 110,193 | 61,046 | |
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4.
Current Asset Investments
2023 | 2022 | ||
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£ | £ | ||
Unlisted investments | 27,933 | 27,055 | |
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5.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
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£ | £ | ||
Trade creditors |
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Other creditors | 13,140 | 14,094 | |
Taxation and social security |
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7.
Pension Commitments
The Company contributes into defined contributions personal pension scheme. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,800 (2022: £4,400). Contributions totalling £400 (2022: £400) were payable to the fund at the balance sheet date and are included in other creditors.
Landy Partners Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2023
8.
Related Party Transactions
During the year the Company incurred expenses amounting to £174,827 (2022: £170,930) with Landy Tech Limited, a company with the director Benjamin Moute as a majority shareholder. In total, Landy Tech Limited invoiced £218,173 of which £57,973 related to the next financial year and is included within other debtors.
9.
Audit Information
The auditors report on the account of Landy Partners Limited for the year ended 30 November 2023 was unqualified
The auditor's report was signed by
Karanjit Gill FCCA
(Senior Statutory Auditor)
for and on behalf of
Xeinadin Audit Limited
, Statutory Auditor
8th Floor Becket House
36 Old Jewry
London
EC2R 8DD
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10.
General Information
Landy Partners Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
08718203
. The registered office is 52a Cromwell Road, London, SW7 5BE.