Company registration number 12256041 (England and Wales)
LAKELAND FLUID POWER HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
LAKELAND FLUID POWER HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
LAKELAND FLUID POWER HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
1,127,182
1,127,182
Creditors: amounts falling due after more than one year
4
(100,000)
Net assets
1,127,182
1,027,182
Capital and reserves
Called up share capital
5
1,000
1,000
Share premium account
817,733
817,733
Profit and loss reserves
308,449
208,449
Total equity
1,127,182
1,027,182
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 December 2023 and are signed on its behalf by:
Mr L Taylor
Mr P M Taylor
Director
Director
Company Registration No. 12256041
LAKELAND FLUID POWER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information
Lakeland Fluid Power Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Limedale, The Groves, Whitehaven, Cumbria, CA28 8JT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.3
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
4
LAKELAND FLUID POWER HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1,127,182
1,127,182
4
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
100,000
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
''A' Ordinary shares of £1 each
550
550
550
550
''B' Ordinary shares of £1 each
250
250
250
250
''C' ordinary shares of £1 each
100
100
100
100
'D' Ordinary shares of £1 each
100
100
100
100
1,000
1,000
1,000
1,000
All ordinary shares are ranked pari passu in all respects save that the directors may vote dividends on one class of share and not another.
6
Related party transactions
In accordance with section 33.1A of FRS102, as a parent company, Lakeland Fluid Power Holdings Limited is not required to disclose transactions with its wholly owned subsidiary, Lakeland Fluid Power Limited.