Company registration number: 09205163
Unaudited financial statements
for the year ended 31 July 2024
for
LK2 Sport & Leisure Ltd
Pages for filing with the Registrar
LK2 Sport & Leisure Ltd
Chartered Accountants' Report to the Board of Directors for the preparation of the
unaudited financial statements
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LK2 Sport & Leisure Ltd for the year ended 31 July 2024 which comprise the Profit and loss account, Balance sheet and the notes to the financial statements from the company's accounting records and from information and explanations you have given us.
As a 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 https://www.icaew.com/regulation.
This report is made solely to the Board of Directors of LK2 Sport & Leisure Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of LK2 Sport & Leisure Ltd and state those matters that we have agreed to state to them, 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 LK2 Sport & Leisure Ltd and its Board of Directors, as a body, for our work, or for this report.
It is your duty to ensure that LK2 Sport & Leisure Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of LK2 Sport & Leisure Ltd. You consider that LK2 Sport & Leisure Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of LK2 Sport & Leisure Ltd. 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.
Cobble Accountants Limited
Commerce House
Carlton Boulevard
Lincoln
Lincolnshire
LN2 4WJ
United Kingdom
Date: 26 February 2025
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Company registration number: 09205163
LK2 Sport & Leisure Ltd
Balance sheet
as at 31 July 2024
2024 2023
£ £ £ £
Current assets
Debtors 13,549 19,303
Cash at bank and in hand 179 4,660
13,728 23,963
Creditors: amounts falling due within one
year
(47,350) (55,353)
Net current liabilities (33,622) (31,390)
NET LIABILITIES (33,622) (31,390)
Capital and reserves
Called up share capital 400 400
Profit and loss account (34,022) (31,790)
TOTAL EQUITY (33,622) (31,390)
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 July 2024.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 09205163
LK2 Sport & Leisure Ltd
Balance sheet - continued
as at 31 July 2024
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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 26 February 2025 and signed on its behalf by:
Mr A Skidmore, Director Mr A Newman, Director
26 February 2025 26 February 2025
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LK2 Sport & Leisure Ltd
Notes to the financial statements
for the year ended 31 July 2024
1 Company information
LK2 Sport & Leisure Ltd is a private company registered in England and Wales. Its registered number is 09205163. The company is limited by shares. Its registered office is Studio One, Deepdale Enterprise Park, Lincoln, Lincolnshire, LN2 2LL.
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 historic cost convention.
Presentation currency
The company's financial statements are presented in sterling.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
3 Average number of employees
During the year the average number of employees was 3 (2023 - 3).
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LK2 Sport & Leisure Ltd
Notes to the financial statements - continued
for the year ended 31 July 2024
4 Directors' Advances, Credits and Guarantees
The directors have directors loan accounts totaling £7,604 (2023 - £7,644) overdrawn brought forward. During the year, the directors of the company borrowed £Nil (2023 - £21) from the company and repaid £Nil (2023 - £61). Loans of £3,354 (2023 - £Nil) were written off during the period. The balance at the the end of the year totaled £4,250 (2023 - £7,604) overdrawn.
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