Registered number
03536234
Ladbrooke 98 Limited
Unaudited Filleted Accounts
31 August 2023
Ladbrooke 98 Limited
Registered number: 03536234
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 81,088 82,978
Current assets
Stocks 51,123 11,700
Debtors 4 108,290 303,424
Cash at bank and in hand 205,002 293,976
364,415 609,100
Creditors: amounts falling due within one year 5 (122,904) (197,611)
Net current assets 241,511 411,489
Total assets less current liabilities 322,599 494,467
Creditors: amounts falling due after more than one year 6 (20,073) (30,085)
Provisions for liabilities (14,000) (11,000)
Net assets 288,526 453,382
Capital and reserves
Called up share capital 4 4
Profit and loss account 288,522 453,378
Shareholders' funds 288,526 453,382
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Skidmore
Director
Approved by the board on 26 February 2024
Ladbrooke 98 Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Premises improvements over 10 years
Plant and machinery 25% reducing balance
Office equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Premises improvements Plant and machinery Office equipment Total
£ £ £ £
Cost
At 1 September 2022 35,142 63,518 7,815 106,475
Additions - 36,504 - 36,504
Disposals - (20,833) - (20,833)
At 31 August 2023 35,142 79,189 7,815 122,146
Depreciation
At 1 September 2022 6,622 9,512 7,363 23,497
Charge for the year 3,516 13,593 452 17,561
At 31 August 2023 10,138 23,105 7,815 41,058
Net book value
At 31 August 2023 25,004 56,084 - 81,088
At 31 August 2022 28,520 54,006 452 82,978
4 Debtors 2023 2022
£ £
Trade debtors 90,425 153,469
Other debtors 17,865 149,955
108,290 303,424
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 9,852 9,608
Trade creditors 58,595 109,115
Taxation and social security costs 36,464 65,205
Other creditors 17,993 13,683
122,904 197,611
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,073 30,085
7 Capital commitments 2023 2022
£ £
Amounts contracted for but not provided in the accounts - 24,729
8 Controlling party
The company is not under the control of any single shareholder.
9 Other information
Ladbrooke 98 Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Grange
Exhall, Alcester
Warwickshire
B49 6EA
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