Registered number
03536234
Ladbrooke 98 Ltd
Unaudited Filleted Accounts
31 August 2024
Ladbrooke 98 Ltd
Registered number: 03536234
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 60,666 81,088
Current assets
Stocks 29,741 51,123
Debtors 4 102,089 108,290
Cash at bank and in hand 130,332 205,002
262,162 364,415
Creditors: amounts falling due within one year 5 (138,577) (122,904)
Net current assets 123,585 241,511
Total assets less current liabilities 184,251 322,599
Creditors: amounts falling due after more than one year 6 (9,809) (20,073)
Provisions for liabilities (9,795) (14,000)
Net assets 164,647 288,526
Capital and reserves
Called up share capital 4 4
Profit and loss account 164,643 288,522
Shareholders' funds 164,647 288,526
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Skidmore
Director
Approved by the board on 20 February 2025
Ladbrooke 98 Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Premises improvements over 10 years
Plant and machinery 25% reducing balance
Office equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Premises improvements Plant and machinery Office equipment Total
£ £ £ £
Cost
At 1 September 2023 35,142 79,189 7,815 122,146
Additions - 245 - 245
Disposals - (4,167) - (4,167)
At 31 August 2024 35,142 75,267 7,815 118,224
Depreciation
At 1 September 2023 10,138 23,105 7,815 41,058
Charge for the year 3,516 12,984 - 16,500
At 31 August 2024 13,654 36,089 7,815 57,558
Net book value
At 31 August 2024 21,488 39,178 - 60,666
At 31 August 2023 25,004 56,084 - 81,088
4 Debtors 2024 2023
£ £
Trade debtors 85,489 90,425
Other debtors 16,600 17,865
102,089 108,290
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 10,104 9,852
Trade creditors 50,024 58,595
Taxation and social security costs 57,420 36,464
Other creditors 21,029 17,993
138,577 122,904
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,809 20,073
7 Controlling party
The company is not under the control of any single shareholder.
8 Other information
Ladbrooke 98 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Grange
Exhall, Alcester
Warwickshire
B49 6EA
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