Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09498067 Mr R Haines Mr N Haines Mrs G Haines iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09498067 2023-03-31 09498067 2024-03-31 09498067 2023-04-01 2024-03-31 09498067 frs-core:CurrentFinancialInstruments 2024-03-31 09498067 frs-core:Non-currentFinancialInstruments 2024-03-31 09498067 frs-core:FurnitureFittings 2024-03-31 09498067 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09498067 frs-core:FurnitureFittings 2023-03-31 09498067 frs-core:MotorVehicles 2024-03-31 09498067 frs-core:MotorVehicles 2023-04-01 2024-03-31 09498067 frs-core:MotorVehicles 2023-03-31 09498067 frs-core:ShareCapital 2024-03-31 09498067 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09498067 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09498067 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09498067 frs-bus:SmallEntities 2023-04-01 2024-03-31 09498067 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09498067 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09498067 frs-bus:Director1 2023-04-01 2024-03-31 09498067 frs-bus:Director2 2023-04-01 2024-03-31 09498067 frs-bus:Director3 2023-04-01 2024-03-31 09498067 frs-countries:EnglandWales 2023-04-01 2024-03-31 09498067 2022-03-31 09498067 2023-03-31 09498067 2022-04-01 2023-03-31 09498067 frs-core:CurrentFinancialInstruments 2023-03-31 09498067 frs-core:Non-currentFinancialInstruments 2023-03-31 09498067 frs-core:ShareCapital 2023-03-31 09498067 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 09498067
Lutterworth Cycle Centre Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
JH Accounting
Golden Green Barn
Barrow Moor
Longnor
Buxton
SK17 0QP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09498067
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,736 39,648
29,736 39,648
CURRENT ASSETS
Stocks 5 183,046 189,155
Debtors 6 9,996 13,462
Cash at bank and in hand 159,294 150,026
352,336 352,643
Creditors: Amounts Falling Due Within One Year 7 (171,089 ) (175,840 )
NET CURRENT ASSETS (LIABILITIES) 181,247 176,803
TOTAL ASSETS LESS CURRENT LIABILITIES 210,983 216,451
Creditors: Amounts Falling Due After More Than One Year 8 (12,000 ) (18,000 )
NET ASSETS 198,983 198,451
CAPITAL AND RESERVES
Called up share capital 9 2,000 2,000
Profit and Loss Account 196,983 196,451
SHAREHOLDERS' FUNDS 198,983 198,451
Page 1
Page 2
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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr N Haines
Director
25/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lutterworth Cycle Centre Ltd Registered number 09498067 is a limited by shares company incorporated in England & Wales. The Registered Office is 1B George Street, Lutterworth, Leicestershire, LE17 4EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 2
Sales, marketing and distribution 4 3
5 5
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 62,324 14,454 76,778
As at 31 March 2024 62,324 14,454 76,778
Depreciation
As at 1 April 2023 25,392 11,738 37,130
Provided during the period 9,233 679 9,912
As at 31 March 2024 34,625 12,417 47,042
Net Book Value
As at 31 March 2024 27,699 2,037 29,736
As at 1 April 2023 36,932 2,716 39,648
Page 3
Page 4
5. Stocks
2024 2023
£ £
Stock 183,046 189,155
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,869 9,389
Prepayments and accrued income 5,077 4,023
Other debtors 50 50
9,996 13,462
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 72,576 69,107
Bank loans and overdrafts 6,000 6,000
Corporation tax 4,798 3,745
Other taxes and social security 849 1,394
VAT 24,119 12,592
Net wages 17 641
Accruals and deferred income 1,550 1,475
Directors' loan accounts 61,180 80,886
171,089 175,840
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,000 18,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,000 2,000
10. Pension Commitments
The company operates a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £167.85 (PY £196.80) were due to the fund. They are included in Other Creditors.
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr R Haines 5,000 12,000
Mr N Haines 2,500 6,000
Mrs G Haines 2,500 6,000
Page 4
Page 5
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 10,000 24,000
Page 5