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Company Registration No. 09944911 (England and Wales)
LAC GROUP LTD Unaudited accounts for the year ended 31 January 2023
LAC GROUP LTD Unaudited accounts Contents
Page
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LAC GROUP LTD Company Information for the year ended 31 January 2023
Directors
Alexandra Cipriani Naser Matloubi
Company Number
09944911 (England and Wales)
Registered Office
Flat 23 St. George: Royal Exchange Ashdown Road Kingston Upon Thames KT1 2EU England
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LAC GROUP LTD Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,393 
2,190 
Current assets
Inventories
- 
31,879 
Debtors
480 
2,480 
Cash at bank and in hand
131 
- 
611 
34,359 
Creditors: amounts falling due within one year
(55,993)
(66,290)
Net current liabilities
(55,382)
(31,931)
Total assets less current liabilities
(53,989)
(29,741)
Creditors: amounts falling due after more than one year
(1,009,032)
(1,062,360)
Net liabilities
(1,063,021)
(1,092,101)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(1,063,121)
(1,092,201)
Shareholders' funds
(1,063,021)
(1,092,101)
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by
Alexandra Cipriani Director Company Registration No. 09944911
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LAC GROUP LTD Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
LAC GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 09944911. The registered office is Flat 23 St. George: Royal Exchange, Ashdown Road, Kingston Upon Thames, KT1 2EU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line basis
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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
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LAC GROUP LTD Notes to the Accounts for the year ended 31 January 2023
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 February 2022
17,195 
At 31 January 2023
17,195 
Depreciation
At 1 February 2022
15,005 
Charge for the year
797 
At 31 January 2023
15,802 
Net book value
At 31 January 2023
1,393 
At 31 January 2022
2,190 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
480 
2,480 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,440 
5,440 
VAT
(1,958)
4,600 
Trade creditors
7,802 
7,800 
Loans from directors
39,669 
43,950 
Accruals
5,040 
4,500 
55,993 
66,290 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
34,812 
39,140 
Other creditors
974,220 
1,023,220 
1,009,032 
1,062,360 
8
Average number of employees
During the year the average number of employees was 0 (2022: 3).
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