Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-3132023-02-01falseManagement and marketing of image rights3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07748193 2023-02-01 2024-01-31 07748193 2022-02-01 2023-01-31 07748193 2024-01-31 07748193 2023-01-31 07748193 2022-02-01 07748193 c:Director2 2023-02-01 2024-01-31 07748193 d:MotorVehicles 2023-02-01 2024-01-31 07748193 d:MotorVehicles 2024-01-31 07748193 d:MotorVehicles 2023-01-31 07748193 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07748193 d:OfficeEquipment 2023-02-01 2024-01-31 07748193 d:OfficeEquipment 2024-01-31 07748193 d:OfficeEquipment 2023-01-31 07748193 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07748193 d:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 07748193 d:OtherPropertyPlantEquipment 2024-01-31 07748193 d:OtherPropertyPlantEquipment 2023-01-31 07748193 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07748193 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07748193 d:FreeholdInvestmentProperty 2024-01-31 07748193 d:FreeholdInvestmentProperty 2023-01-31 07748193 d:FreeholdInvestmentProperty 2 2023-02-01 2024-01-31 07748193 d:CurrentFinancialInstruments 2024-01-31 07748193 d:CurrentFinancialInstruments 2023-01-31 07748193 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07748193 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07748193 d:ShareCapital 2024-01-31 07748193 d:ShareCapital 2023-01-31 07748193 d:OtherMiscellaneousReserve 2023-02-01 2024-01-31 07748193 d:OtherMiscellaneousReserve 2024-01-31 07748193 d:OtherMiscellaneousReserve 2023-01-31 07748193 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 07748193 d:RetainedEarningsAccumulatedLosses 2024-01-31 07748193 d:RetainedEarningsAccumulatedLosses 2023-01-31 07748193 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-01-31 07748193 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 07748193 c:FRS102 2023-02-01 2024-01-31 07748193 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07748193 c:FullAccounts 2023-02-01 2024-01-31 07748193 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07748193 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 07748193 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 07748193 d:OtherDeferredTax 2024-01-31 07748193 d:OtherDeferredTax 2023-01-31 07748193 2 2023-02-01 2024-01-31 07748193 f:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 07748193










LT 1992 LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
LT 1992 LIMITED
REGISTERED NUMBER: 07748193

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
53,709
44,911

Investment property
 5 
1,411,651
1,274,601

  
1,465,360
1,319,512

Current assets
  

Debtors: amounts falling due within one year
 6 
332,335
237,125

Cash at bank and in hand
 7 
412,082
546,828

  
744,417
783,953

Creditors: amounts falling due within one year
 8 
(70,033)
(89,074)

Net current assets
  
 
 
674,384
 
 
694,879

Total assets less current liabilities
  
2,139,744
2,014,391

Provisions for liabilities
  

Deferred tax
 10 
(95,622)
(59,036)

Net assets
  
2,044,122
1,955,355


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
 11 
276,344
173,557

Profit and loss account
 11 
1,767,678
1,781,698

  
2,044,122
1,955,355


Page 1

 
LT 1992 LIMITED
REGISTERED NUMBER: 07748193
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 October 2024.




Mr A W Trott
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
LT 1992 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

LT 1992 Limited is a private company limited by shares, incorported in England, United Kingdom. The address of the registered office is 72 St. Anns Road, Middlewich, England, CW10 9BY. The principal activity of the company continued to be the management of the image and commercial and sporting activities of Dame LR Kenny. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
LT 1992 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Office equipment
-
25%
Other fixed assets
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
LT 1992 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
LT 1992 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
32,837
24,420

Social security costs
1,245
350

Cost of defined contribution scheme
6,294
4,000

40,376
28,770


The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
LT 1992 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Motor vehicles
Office equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 February 2023
66,844
21,913
5,015
93,772


Additions
57,620
1,083
-
58,703


Disposals
(66,844)
(3,164)
-
(70,008)



At 31 January 2024

57,620
19,832
5,015
82,467



Depreciation


At 1 February 2023
32,620
12,715
3,526
48,861


Charge for the year on owned assets
11,524
2,206
495
14,225


Disposals
(32,620)
(1,708)
-
(34,328)



At 31 January 2024

11,524
13,213
4,021
28,758



Net book value



At 31 January 2024
46,096
6,619
994
53,709



At 31 January 2023
34,224
9,198
1,489
44,911


5.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
1,274,601


Surplus on revaluation
137,050



At 31 January 2024
1,411,651

The 2024 valuations were made by the directors, on an open market value for existing use basis.







Page 7

 
LT 1992 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Debtors

2024
2023
£
£


Other debtors
289,194
213,271

Prepayments and accrued income
43,141
23,854

332,335
237,125



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
412,082
546,828



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Payments received on account
2,150
2,150

Corporation tax
34,092
55,359

Other taxation and social security
7,283
12,701

Other creditors
-
6,517

Accruals and deferred income
26,508
12,347

70,033
89,074



9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
412,082
412,082




Financial assets measured at fair value through profit or loss comprise...

Derivative financial instruments measured at fair value through profit or loss held as part of a trading portfolio comprise….

10.


Deferred taxation

Page 8

 
LT 1992 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
10.Deferred taxation (continued)




2024
2023


£

£






At beginning of year
(59,036)
(44,442)


Charged to profit or loss
(36,586)
(14,594)



At end of year
(95,622)
(59,036)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(13,179)
(10,856)

Investment property revaluation
(82,443)
(48,180)

(95,622)
(59,036)


11.


Reserves

Other reserves

Non-distributable profit reserve relating to the unrealised gain or loss on fair value adjustments of investment properties. Deferred tax has been provided on the revaluation of investment properties.

Profit and loss account

Includes all current and prior periods retained profits and losses.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £6,294 (2023 - £4,000) . Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
LT 1992 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

13.


Related party transactions




2024
2023
£
£

Amounts owed by connected companies
224,253
203,383

 
Page 10