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Lazy Ltd
Financial Statements
For The Year Ended 31 October 2023
Financial Statements
Contents
Page
Accountants' Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Lazy Ltd For The Year Ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lazy Ltd For The Year Ended 31 October 2023 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to 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 http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Lazy Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lazy Ltd and state those matters that we have agreed to state to the director of Lazy Ltd , 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 Lazy Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Lazy Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Lazy Ltd . You consider that Lazy Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Lazy Ltd . 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 financial statements.
Signed
31 July 2024
Cooper Adams Ltd
Chartered Accountants
12 Payton Street
Stratford upon Avon
Warwickshire
CV37 6UA
Page 1
Page 2
Statement of Financial Position
Registered number: 08587241
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Cash at bank and in hand 3,564 2,931
3,564 2,931
Creditors: Amounts Falling Due Within One Year (54,786 ) (44,350 )
NET CURRENT ASSETS (LIABILITIES) (51,222 ) (41,419 )
TOTAL ASSETS LESS CURRENT LIABILITIES (51,222 ) (41,419 )
Creditors: Amounts Falling Due After More Than One Year (8,743 ) (13,750 )
NET LIABILITIES (59,965 ) (55,169 )
CAPITAL AND RESERVES
Called up share capital 3 1 1
Income Statement (59,966 ) (55,170 )
SHAREHOLDERS' FUNDS (59,965) (55,169)
Page 2
Page 3
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Zak Miah
Director
31 July 2024
The notes on page 4 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The company is showing net liabilities as at 31 October 2023. The director has confirmed that he will continue to support the company financially, to allow it to continue its operations. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.
1.3. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
3. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
4. General Information
Lazy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08587241 . The registered office is 12 Payton Street, Stratford upon Avon, Warwickshire, CV37 6UA.
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