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REGISTERED NUMBER: 02120850 (England and Wales)


























Unaudited Financial Statements

for the Period

1 August 2022 to 31 January 2024

for

LAGAT Limited

LAGAT Limited (Registered number: 02120850)






Contents of the Financial Statements
for the Period 1 August 2022 to 31 January 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 4


LAGAT Limited

Company Information
for the Period 1 August 2022 to 31 January 2024







DIRECTORS: Mrs H Spencer BA (Hons) JP
M P Hodgkinson MSc FCIOB





SECRETARY: M P Hodgkinson MSc FCIOB





REGISTERED OFFICE: Spring Hill House
Spring Hill
Lincoln
Lincolnshire
LN1 1HB





REGISTERED NUMBER: 02120850 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
LAGAT Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LAGAT Limited for the period ended 31 January 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of LAGAT Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LAGAT Limited and state those matters that we have agreed to state to the Board of Directors of LAGAT Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LAGAT Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that LAGAT Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of LAGAT Limited. You consider that LAGAT Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of LAGAT Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


30 October 2024

LAGAT Limited (Registered number: 02120850)

Statement of Financial Position
31 January 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,568 10,065

CURRENT ASSETS
Debtors 5 52,846 87,207
Investments 6 10,140 87,947
Cash at bank 1 1
62,987 175,155
CREDITORS
Amounts falling due within one year 7 305,005 164,074
NET CURRENT (LIABILITIES)/ASSETS (242,018 ) 11,081
TOTAL ASSETS LESS CURRENT
LIABILITIES

(239,450

)

21,146

CREDITORS
Amounts falling due after more than one
year

8

19,810

46,053
NET LIABILITIES (259,260 ) (24,907 )

CAPITAL AND RESERVES
Called up share capital 10 600 600
Retained earnings (259,860 ) (25,507 )
SHAREHOLDERS' FUNDS (259,260 ) (24,907 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





M P Hodgkinson MSc FCIOB - Director


LAGAT Limited (Registered number: 02120850)

Notes to the Financial Statements
for the Period 1 August 2022 to 31 January 2024

1. STATUTORY INFORMATION

LAGAT Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the year end, the company has net liabilities of £259,260 (2022: £24,907). These accounts are prepared on a going concern basis as the directors have indicated that they will continue to support the company in order for it to meet its short term liabilities. The directors plan to closely monitor the situation.

Turnover
Income represents sales to outside customers at invoice amount less value added tax and discounts, together with receipts from the Education Skills Funding Agency (formerly the Learning and Skills Council), Hull College, Lincoln County Council and People Plus. Turnover arises entirely from training and associated services within the United Kingdom.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvements - 20% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 25% on cost

All fixed assets are initially recorded at cost.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


LAGAT Limited (Registered number: 02120850)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Investments
Investment bonds are held at fair value. Changes in fair value are taken to the profit and loss account.

Government grants
Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 19 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Computer
Improvements fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022
and 31 January 2024 50,226 5,943 56,738 112,907
DEPRECIATION
At 1 August 2022 46,315 4,332 52,195 102,842
Charge for period 3,782 872 2,843 7,497
At 31 January 2024 50,097 5,204 55,038 110,339
NET BOOK VALUE
At 31 January 2024 129 739 1,700 2,568
At 31 July 2022 3,911 1,611 4,543 10,065

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 31,364 47,929
Other debtors 21,482 39,278
52,846 87,207

6. CURRENT ASSET INVESTMENTS
2024 2022
£    £   
Unlisted investments 10,140 87,947

LAGAT Limited (Registered number: 02120850)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 85,964 89,266
Trade creditors 11,970 32,768
Taxation and social security 51,964 37,680
Other creditors 155,107 4,360
305,005 164,074

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans 19,810 46,053

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2022
£    £   
Within one year 14,857 32,302
Between one and five years 19,810 16,151
34,667 48,453

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2022
value: £    £   
300 A Ordinary £1 300 300
225 B Ordinary £1 225 225
75 C Ordinary £1 75 75
600 600