2 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 10359914 2023-04-01 2024-03-31 10359914 2024-03-31 10359914 2023-03-31 10359914 2022-04-01 2023-03-31 10359914 2023-03-31 10359914 2022-03-31 10359914 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10359914 core:PlantMachinery 2023-04-01 2024-03-31 10359914 core:MotorVehicles 2023-04-01 2024-03-31 10359914 core:OnerousContractsExcludingVacantProperties 2023-04-01 2024-03-31 10359914 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10359914 bus:Director1 2023-04-01 2024-03-31 10359914 bus:Director2 2023-04-01 2024-03-31 10359914 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 10359914 core:PlantMachinery 2023-03-31 10359914 core:MotorVehicles 2023-03-31 10359914 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 10359914 core:PlantMachinery 2024-03-31 10359914 core:MotorVehicles 2024-03-31 10359914 core:WithinOneYear 2024-03-31 10359914 core:WithinOneYear 2023-03-31 10359914 core:AfterOneYear 2024-03-31 10359914 core:AfterOneYear 2023-03-31 10359914 core:ShareCapital 2024-03-31 10359914 core:ShareCapital 2023-03-31 10359914 core:RetainedEarningsAccumulatedLosses 2024-03-31 10359914 core:RetainedEarningsAccumulatedLosses 2023-03-31 10359914 bus:OrdinaryShareClass1 core:ShareCapital 2024-03-31 10359914 bus:OrdinaryShareClass1 core:ShareCapital 2023-03-31 10359914 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 10359914 core:PlantMachinery 2023-03-31 10359914 core:MotorVehicles 2023-03-31 10359914 bus:Director1 2023-03-31 10359914 bus:Director1 2024-03-31 10359914 bus:Director2 2023-03-31 10359914 bus:Director2 2024-03-31 10359914 bus:Director1 2022-03-31 10359914 bus:Director1 2023-03-31 10359914 bus:Director2 2022-03-31 10359914 bus:Director2 2023-03-31 10359914 bus:Director1 2022-04-01 2023-03-31 10359914 bus:Director2 2022-04-01 2023-03-31 10359914 bus:SmallEntities 2023-04-01 2024-03-31 10359914 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10359914 bus:FullAccounts 2023-04-01 2024-03-31 10359914 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10359914 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10359914 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 10359914 core:OtherPropertyPlantEquipment 2023-03-31 10359914 core:OtherPropertyPlantEquipment 2024-03-31
REGISTRAR
Company registration number: 10359914
Larkhold Limited
Unaudited filleted financial statements
31 March 2024
Larkhold Limited
Contents
Statement of financial position
Notes to the financial statements
Larkhold Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,196,444 1,332,394
_______ _______
1,196,444 1,332,394
Current assets
Debtors 6 1,113,518 1,087,585
Cash at bank and in hand 32,569 12,392
_______ _______
1,146,087 1,099,977
Creditors: amounts falling due
within one year 7 ( 724,464) ( 1,131,597)
_______ _______
Net current assets/(liabilities) 421,623 ( 31,620)
_______ _______
Total assets less current liabilities 1,618,067 1,300,774
Creditors: amounts falling due
after more than one year 8 ( 963,178) ( 708,312)
_______ _______
Net assets 654,889 592,462
_______ _______
Capital and reserves
Called up share capital 9 100 100
Profit and loss account 654,789 592,362
_______ _______
Shareholders funds 654,889 592,462
_______ _______
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 comprehensive income 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: 10359914
Larkhold 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, Birningham, 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Freehold property - 2 % straight line
Plant and machinery - 15 % straight line
Motor vehicles - 20 % straight line
Website - 25 % straight line
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and 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.
Loan and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Freehold property Plant and machinery Motor vehicles Website Total
£ £ £ £ £
Cost
At 1 April 2023 874,375 1,076,309 103,955 27,070 2,081,709
Additions - 42,377 - - 42,377
_______ _______ _______ _______ _______
At 31 March 2024 874,375 1,118,686 103,955 27,070 2,124,086
_______ _______ _______ _______ _______
Depreciation
At 1 April 2023 84,571 633,304 31,441 - 749,316
Charge for the year 17,487 135,987 20,791 4,061 178,326
_______ _______ _______ _______ _______
At 31 March 2024 102,058 769,291 52,232 4,061 927,642
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2024 772,317 349,395 51,723 23,009 1,196,444
_______ _______ _______ _______ _______
At 31 March 2023 789,804 443,005 72,514 27,070 1,332,393
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Other debtors 1,113,518 1,087,585
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 35,110 35,110
Trade creditors 1,394 1,118
Amounts owed to group undertakings and undertakings in which the company has a participating interest 550,908 970,811
Corporation tax 77,365 18,305
Social security and other taxes 11,960 13,861
Other creditors 47,727 92,392
_______ _______
724,464 1,131,597
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 674,911 675,382
Other creditors 288,267 32,930
_______ _______
963,178 708,312
_______ _______
9. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
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 406,848 9,803 416,651
Michael Larkin 413,778 9,586 423,364
_______ _______ _______
820,626 19,389 840,015
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Steven Larkin 396,325 10,523 406,848
Michael Larkin 403,842 9,936 413,778
_______ _______ _______
800,167 20,459 820,626
_______ _______ _______