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LAK FITNESS LTD

Registered Number
10368407
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

LAK FITNESS LTD
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

ROBINSON, Kyle
TOWNSEND, Luke Anthony

Registered Address

Unit 6 Cotton Brook Road
Derby
DE23 8YJ

Registered Number

10368407 (England and Wales)
LAK FITNESS LTD
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets312,40017,200
Tangible assets412,03714,452
24,43731,652
Current assets
Debtors8313
Cash at bank and on hand2,4036,882
2,4117,195
Creditors amounts falling due within one year5(31,386)(34,779)
Net current assets (liabilities)(28,975)(27,584)
Total assets less current liabilities(4,538)4,068
Creditors amounts falling due after one year6(6,265)(9,862)
Net assets(10,803)(5,794)
Capital and reserves
Called up share capital100100
Profit and loss account(10,903)(5,894)
Shareholders' funds(10,803)(5,794)
The financial statements were approved and authorised for issue by the Board of Directors on 25 July 2024, and are signed on its behalf by:
ROBINSON, Kyle
Director
TOWNSEND, Luke Anthony
Director

Registered Company No. 10368407
LAK FITNESS LTD
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Deferred tax
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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Office Equipment203
2.Average number of employees

20232022
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 October 2224,00024,000
At 30 September 2324,00024,000
Amortisation and impairment
At 01 October 226,8006,800
Charge for year4,8004,800
At 30 September 2311,60011,600
Net book value
At 30 September 2312,40012,400
At 30 September 2217,20017,200
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 October 2229,74829,748
Additions755755
At 30 September 2330,50330,503
Depreciation and impairment
At 01 October 2215,29615,296
Charge for year3,1703,170
At 30 September 2318,46618,466
Net book value
At 30 September 2312,03712,037
At 30 September 2214,45214,452
5.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts1,870-
Taxation and social security-1,002
Other creditors26,31630,577
Accrued liabilities and deferred income3,2003,200
Total31,38634,779
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.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts6,2659,862
Total6,2659,862