Company registration number 10373001 (England and Wales)
STUART LANCASTER LCM LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
STUART LANCASTER LCM LIMITED
COMPANY INFORMATION
Director
Mr S Lancaster
Company number
10373001
Registered office
12 Foxhill Drive
Weetwood
Leeds
LS16 5PG
Accountants
UHY Hacker Young
Bradbury House
Mission Court
Newport
Gwent
United Kingdom
NP20 2DW
STUART LANCASTER LCM LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Statement of income and retained earnings
3
Balance sheet
4
Notes to the financial statements
5 - 8
STUART LANCASTER LCM LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -

The director presents his annual report and financial statements for the year ended 30 September 2023.

Principal activities

The principal activity of the company continued to be that of Image Rights, Sports Leadership, Coaching and Management.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr S Lancaster
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr S Lancaster
Director
1 February 2024
STUART LANCASTER LCM LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STUART LANCASTER LCM LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stuart Lancaster LCM Limited for the year ended 30 September 2023 set out on pages 3 to 8 from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Stuart Lancaster LCM Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Stuart Lancaster LCM Limited and state those matters that we have agreed to state to the Board of Directors of Stuart Lancaster LCM Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stuart Lancaster LCM Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Stuart Lancaster LCM Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stuart Lancaster LCM Limited. You consider that Stuart Lancaster LCM Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stuart Lancaster LCM Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

UHY Hacker Young
1 February 2024
Chartered Accountants
Bradbury House
Mission Court
Newport
Gwent
United Kingdom
NP20 2DW
STUART LANCASTER LCM LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
2023
2022
£
£
Turnover
154,944
139,189
Administrative expenses
(24,039)
(14,468)
Profit before taxation
130,905
124,721
Tax on profit
(27,569)
(23,779)
Profit for the financial year
103,336
100,942
Retained earnings brought forward
20,657
54,383
Dividends
(109,335)
(134,668)
Retained earnings carried forward
14,658
20,657

The profit and loss account has been prepared on the basis that all operations are continuing operations.

STUART LANCASTER LCM LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 4 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,376
119
Current assets
Debtors
4
13,011
36,159
Cash at bank and in hand
30,001
10,001
43,012
46,160
Creditors: amounts falling due within one year
5
(29,717)
(25,609)
Net current assets
13,295
20,551
Net assets
14,671
20,670
Capital and reserves
Called up share capital
6
13
13
Profit and loss reserves
14,658
20,657
Total equity
14,671
20,670

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 1 February 2024
Mr S Lancaster
Director
Company registration number 10373001 (England and Wales)
STUART LANCASTER LCM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
1
Accounting policies
Company information

Stuart Lancaster LCM Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12 Foxhill Drive, Weetwood, Leeds, LS16 5PG.

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

STUART LANCASTER LCM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
STUART LANCASTER LCM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
3
Tangible fixed assets
Computers
£
Cost
At 1 October 2022
1,299
Additions
1,898
At 30 September 2023
3,197
Depreciation and impairment
At 1 October 2022
1,180
Depreciation charged in the year
641
At 30 September 2023
1,821
Carrying amount
At 30 September 2023
1,376
At 30 September 2022
119
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
13,011
36,159
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
27,569
23,779
Other creditors
2,148
1,830
29,717
25,609
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
10
10
10
10
Ordinary B of £1 each
3
3
3
3
13
13
13
13
STUART LANCASTER LCM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
7
Directors' transactions

Dividends totalling £109,335 (2022 - £134,668) were paid in the year in respect of shares held by the company's director.

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