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REGISTERED NUMBER: 11508712 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Ladybridge Connect Limited

Ladybridge Connect Limited (Registered number: 11508712)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Ladybridge Connect Limited (Registered number: 11508712)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 900,925 946,773

CURRENT ASSETS
Stocks 1,846 2,272
Debtors 5 5,426 9,087
Cash at bank and in hand 47,021 45,598
54,293 56,957
CREDITORS
Amounts falling due within one year 6 (159,874 ) (42,548 )
NET CURRENT (LIABILITIES)/ASSETS (105,581 ) 14,409
TOTAL ASSETS LESS CURRENT LIABILITIES 795,344 961,182

CREDITORS
Amounts falling due after more than one
year

7

(856,100

)

(1,010,939

)
NET LIABILITIES (60,756 ) (49,757 )

RESERVES
Income and expenditure account (60,756 ) (49,757 )
(60,756 ) (49,757 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 surplus or deficit 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 21 November 2024 and were signed on its behalf by:



Mr K D Nelson - Director


Ladybridge Connect Limited (Registered number: 11508712)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ladybridge Connect Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11508712

Registered office: 97 Barlow Moor Road
Didsbury
Manchester
M20 2GP

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned the sales of goods and the rendering of services.

Turnover from the sales of goods relates to income from the cafe and is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer, usually at the point of sale.

Turnover from the rendering of services relates to service charges and room hire and is recognised in the year to which the service relates and, where necessary, by reference to the stage of completion of the booking/service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost, 5% on cost, 2% on cost and Over the period of the lease
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

Grants receivable
Grants are accounted for under the accruals model and are classified between grants relating to revenue (revenue-based grants) or a grant relating to assets (capital-based grants).

Grants relating to revenue items are recognised in profit and loss on a systematic basis over the periods in which the related costs for which the grant is intended to compensate are recognised.

Grants relating to capital items are recognised in profit and loss on a systematic basis over the useful economic life of the asset to which they relate. Grants relating to future periods are deferred and recognised within creditors.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 balance sheet date.

Ladybridge Connect Limited (Registered number: 11508712)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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 balance sheet 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 year 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 surplus or deficit on a straight line basis over the period of the lease.

Going concern
After reviewing the company's financial situation, the directors have a reasonable expectation that the company has adequate resources, including the continuing financial support of its parent company, to continue in operational existence for the foreseeable future. The directors therefore conclude that it remains appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 959,502 24,095 104,128 1,087,725
DEPRECIATION
At 1 April 2023 68,265 9,638 63,049 140,952
Charge for year 20,900 4,819 20,129 45,848
At 31 March 2024 89,165 14,457 83,178 186,800
NET BOOK VALUE
At 31 March 2024 870,337 9,638 20,950 900,925
At 31 March 2023 891,237 14,457 41,079 946,773

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,181 2,651
Other debtors 3,245 6,436
5,426 9,087

Ladybridge Connect Limited (Registered number: 11508712)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings 118,692 -
Other creditors 41,182 42,548
159,874 42,548

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings - 118,692
Other creditors 856,100 892,247
856,100 1,010,939

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 1,000 1,000
Between one and five years 4,000 4,000
In more than five years 114,000 115,000
119,000 120,000