Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false2023-05-01The principal activity of the company continued to be that of retail sale via mail order houses or via internet.44truefalsefalse 08782583 2023-05-01 2024-04-30 08782583 2022-05-01 2023-04-30 08782583 2024-04-30 08782583 2023-04-30 08782583 c:Director2 2023-05-01 2024-04-30 08782583 d:ComputerEquipment 2023-05-01 2024-04-30 08782583 d:ComputerEquipment 2024-04-30 08782583 d:ComputerEquipment 2023-04-30 08782583 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08782583 d:CurrentFinancialInstruments 2024-04-30 08782583 d:CurrentFinancialInstruments 2023-04-30 08782583 d:Non-currentFinancialInstruments 2024-04-30 08782583 d:Non-currentFinancialInstruments 2023-04-30 08782583 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 08782583 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 08782583 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 08782583 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 08782583 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 08782583 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 08782583 d:ShareCapital 2024-04-30 08782583 d:ShareCapital 2023-04-30 08782583 d:RetainedEarningsAccumulatedLosses 2024-04-30 08782583 d:RetainedEarningsAccumulatedLosses 2023-04-30 08782583 c:FRS102 2023-05-01 2024-04-30 08782583 c:Audited 2023-05-01 2024-04-30 08782583 c:FullAccounts 2023-05-01 2024-04-30 08782583 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08782583 c:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08782583 2 2023-05-01 2024-04-30 08782583 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 08782583









LAKELAND FOOTWEAR (INTERNATIONAL) LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
LAKELAND FOOTWEAR (INTERNATIONAL) LTD
REGISTERED NUMBER: 08782583

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
41
129

  
41
129

Current assets
  

Stocks
  
2,364
14,410

Debtors: amounts falling due within one year
 6 
5,197
7,241

Cash at bank and in hand
 7 
2,880
4,354

  
10,441
26,005

Creditors: amounts falling due within one year
 8 
(84,312)
(87,219)

Net current liabilities
  
 
 
(73,871)
 
 
(61,214)

Total assets less current liabilities
  
(73,830)
(61,085)

Creditors: amounts falling due after more than one year
 9 
-
(2,800)

  

Net liabilities
  
(73,830)
(63,885)


Capital and reserves
  

Called up share capital 
  
24,400
24,400

Profit and loss account
  
(98,230)
(88,285)

  
(73,830)
(63,885)


Page 1

 
LAKELAND FOOTWEAR (INTERNATIONAL) LTD
REGISTERED NUMBER: 08782583
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

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 27 January 2025.




D D A RAJAPAKSA
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LAKELAND FOOTWEAR (INTERNATIONAL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

LAKELAND FOOTWEAR (INTERNATIONAL) LTD is private company limited by shares capital, incorporated in England and Wales. The address of the registered office is Unit 29b East Lodge Business Centre, East Lodge Lane, Enfield, EN2 8AS.

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

Going concern

As noted in the Directors' Report, the Company has ceased activity and accordingly, the financial statements have been prepared on the basis other than going concern. The directors have received confirmation that the parent company will continue to provide the necessary level of support to enable the Company to meet its liabilities until the company is disolved.
The Directors consider there to be no difference between the valuation on a going concern basis and valuation on the basis other than going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
LAKELAND FOOTWEAR (INTERNATIONAL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Interest income

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

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

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.

Page 4

 
LAKELAND FOOTWEAR (INTERNATIONAL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
Straight Line

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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 5

 
LAKELAND FOOTWEAR (INTERNATIONAL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.
Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewied on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.
Key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The directors consider the following to be significant areas of judgement and key accounting estimates:
-Depreciation of tangible fixed assets respectively are also key accounting estimates. Depreciation is estimated based upon the expected useful lives of the ocmpany's tangible fixed assets.
-Valuation of stock and stock provision is an areas of key accounting estimate. The entity policy in relation to stock provisioning is therefore to provide for obsolete, slow moving and defective stock, and therefore ensure that stock is held at the most appropriate estimate of net realisable value.
 


4.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 6

 
LAKELAND FOOTWEAR (INTERNATIONAL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 May 2023
764



At 30 April 2024

764



Depreciation


At 1 May 2023
635


Charge for the year on owned assets
88



At 30 April 2024

723



Net book value



At 30 April 2024
41



At 30 April 2023
129


6.


Debtors

2024
2023
£
£


Trade debtors
684
809

Amounts owed by group undertakings
2,346
3,846

Other debtors
454
1,030

Prepayments and accrued income
1,713
1,556

5,197
7,241



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,880
4,354

2,880
4,354


Page 7

 
LAKELAND FOOTWEAR (INTERNATIONAL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
2,600
1,000

Trade creditors
1,209
1,974

Amounts owed to group undertakings
61,782
80,546

Other creditors
228
878

Accruals and deferred income
18,493
2,821

84,312
87,219



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
2,800

-
2,800


Page 8

 
LAKELAND FOOTWEAR (INTERNATIONAL) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
2,600
1,000


2,600
1,000

Amounts falling due 1-2 years

Bank loans
-
2,800


-
2,800



2,600
3,800


The loan is a Bounce Back Loan repayable over 5 years with an interest rate of 2.5%. The Business Interruption Payment covers the payment of interest on the loan for the first 12 months from the date the loan was given. 


11.


Controlling party

The Smallest and largest group for which consolidated financial statement are prepared which include the results of this company is that headed by D Samson Industries (Pvt) Ltd, whose registered office is at No. 110, Kumaran Ratnam Road, BOX 778, Colombo 02, Sri Lanka.

12.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:
We draw your attention to note 2.2 in the financial statements, which indicates that the financial statements have been prepared on a basis other than that of a going concern. Our opinion is not modified in respect of this matter.

The audit report was signed on 27 January 2025 by Cecile Chabert (Senior Statutory Auditor) on behalf of Thakur-Chabert Limited.

 
Page 9