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REGISTERED NUMBER: 10929505 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Lace Market Point Limited

Lace Market Point Limited (Registered number: 10929505)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lace Market Point Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr S A Monk
Mr R S Monk





REGISTERED OFFICE: 2 Pemberton Street
Nottingham
Nottinghamshire
NG1 1GS





REGISTERED NUMBER: 10929505 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Lace Market Point Limited (Registered number: 10929505)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 17,400

CURRENT ASSETS
Debtors 5 1,062,730 2,019,135
Cash at bank 1,750 63,560
1,064,480 2,082,695
CREDITORS
Amounts falling due within one year 6 877,745 1,875,859
NET CURRENT ASSETS 186,735 206,836
TOTAL ASSETS LESS CURRENT
LIABILITIES

186,735

224,236

CREDITORS
Amounts falling due after more than one
year

7

25,256

36,070
NET ASSETS 161,479 188,166

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 161,379 188,066
SHAREHOLDERS' FUNDS 161,479 188,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Lace Market Point Limited (Registered number: 10929505)

Balance Sheet - continued
30 September 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





Mr S A Monk - Director


Lace Market Point Limited (Registered number: 10929505)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Lace Market Point Limited 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.

2. ACCOUNTING POLICIES

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Lace Market Point Limited (Registered number: 10929505)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 October 2022 43,500
Disposals (43,500 )
At 30 September 2023 -
DEPRECIATION
At 1 October 2022 26,100
Eliminated on disposal (26,100 )
At 30 September 2023 -
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 17,400

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 October 2022 43,500
Disposals (43,500 )
At 30 September 2023 -
DEPRECIATION
At 1 October 2022 26,100
Eliminated on disposal (26,100 )
At 30 September 2023 -
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 17,400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,058,451 1,877,797
Tax - 139,451
VAT 4,279 1,887
1,062,730 2,019,135

Lace Market Point Limited (Registered number: 10929505)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,976 11,057
Hire purchase contracts - 5,217
Trade creditors 1,642 4,353
Other creditors 474,029 1,358,975
Directors' current accounts 389,633 389,633
Accruals and deferred income 1,465 106,624
877,745 1,875,859

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 25,256 36,070

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

9. RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided to companies with common directors and under common control amounted to £1,058,451 (2022:£1,877,797).

The balance outstanding on interest free loans provided from companies with common directors and under common control amounted to £74,029 (2022:£958,975).