LSP Leadership Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04455564 (England and Wales)

LSP LEADERSHIP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S C Bailey

REGISTERED OFFICE:

The Wokingham Business Centre

The Courthouse

Erftstadt Court, Denmark Street

Wokingham

Berkshire

RG40 2YF

REGISTERED NUMBER:

04455564 (England and Wales)

ACCOUNTANTS:

Mark Holt & Co Limited

Chartered Accountants

7 Sandy Court

Ashleigh Way

Langage Business Park

Plymouth

Devon

PL7 5JX

FIXED ASSETS

Tangible assets

5

25,603

38,235

CURRENT ASSETS

Debtors

40,857

44,534

Cash at bank and in hand

533,422

521,804

574,279

566,338

CREDITORS

Amounts falling due within one year

234,233

299,203

NET CURRENT ASSETS

340,046

267,135

TOTAL ASSETS LESS CURRENT LIABILITIES

365,649

305,370

PROVISIONS FOR LIABILITIES

7,600

7,600

NET ASSETS

358,049

297,770

CAPITAL AND RESERVES

Called up share capital

56

204

Capital redemption reserve

71

-

Retained earnings

357,922

297,566

SHAREHOLDERS' FUNDS

358,049

297,770

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 23 August 2018 and were signed by:

S C Bailey - Director

1.	STATUTORY INFORMATION

LSP Leadership 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Turnover is recognised at the point the training and materials are delivered.

Tangible fixed assets

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

Plant and machinery

-

33% on cost and 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have

suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset

is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is

reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its

recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been

recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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.

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.

Financial instruments

Basic financial instruments are recognised initially at fair value. At the year end the financial instruments are reviewed and

measured at fair value with any changes recognised in the profit and loss account.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past

reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of

deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a

fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting

date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the

transaction that resulted in the tax expense (income).

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.

Provisions for liabilities

Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is

probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be

estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at

the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is

recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in

profit or loss in the period it arises.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

81,487

Additions

1,389

At 31 March 2018

82,876

DEPRECIATION

At 1 April 2017

43,252

Charge for year

14,021

At 31 March 2018

57,273

NET BOOK VALUE

At 31 March 2018

25,603

At 31 March 2017

38,235

6.	SHARE CAPITAL

During the year a Company Purchase of Own Shares took place to buy back shares from minority shareholders at market

rate in an arm's length transaction. The control of the company was left unchanged.

Following this, a Share Capital Reduction took place to remove the share classes no longer required.