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REGISTRAR
Company registration number: 4741473
Lark & Larks Limited
Unaudited filleted financial statements
31 March 2024
Lark & Larks Limited
Contents
Statement of financial position
Notes to the financial statements
Lark & Larks Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 108,842 -
_______ _______
108,842 -
Current assets
Stocks 51,307 50,000
Debtors 6 1,098,790 1,210,492
Cash at bank and in hand 248,697 561,360
_______ _______
1,398,794 1,821,852
Creditors: amounts falling due
within one year 7 ( 398,966) ( 585,859)
_______ _______
Net current assets 999,828 1,235,993
_______ _______
Total assets less current liabilities 1,108,670 1,235,993
Creditors: amounts falling due
after more than one year 8 ( 116,667) ( 166,667)
_______ _______
Net assets 992,003 1,069,326
_______ _______
Capital and reserves
Called up share capital 9 2 2
Profit and loss account 992,001 1,069,324
_______ _______
Shareholders funds 992,003 1,069,326
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 June 2024 , and are signed on behalf of the board by:
Steven Larkin
Director
Company registration number: 4741473
Lark & Larks Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Portland Road, Edgbaston, Birmingham, B16 9HN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.The accounts are rounded to the nearest £1.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2023: 35 ).
5. Tangible assets
Marketing Website Total
£ £
Cost
At 1 April 2023 - -
Additions 108,842 108,842
_______ _______
At 31 March 2024 108,842 108,842
_______ _______
Depreciation
At 1 April 2023 and 31 March 2024 - -
_______ _______
Carrying amount
At 31 March 2024 108,842 108,842
_______ _______
At 31 March 2023 - -
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 101,627 66,975
Amounts owed by group undertakings and undertakings in which the company has a participating interest 680,068 1,073,898
Other debtors 317,095 69,619
_______ _______
1,098,790 1,210,492
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 303,268 307,171
Corporation tax 17,552 91,810
Social security and other taxes 64,018 86,851
Other creditors 14,128 100,027
_______ _______
398,966 585,859
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 116,667 166,667
_______ _______
9. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Steven Larkin ( 10,512) 123,276 112,764
Michael Larkin ( 10,513) 121,588 111,075
_______ _______ _______
( 21,025) 244,864 223,839
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Steven Larkin 32,338 ( 42,850) ( 10,512)
Michael Larkin 32,337 ( 42,850) ( 10,513)
_______ _______ _______
64,675 ( 85,700) ( 21,025)
_______ _______ _______