Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-3111646292024-01-01falsehiring of sound equipment and assosciated services for use at conferences, exhibitions and theatres27falsetruefalse 02284222 2024-01-01 2024-12-31 02284222 2023-01-01 2023-12-31 02284222 2024-12-31 02284222 2023-12-31 02284222 2023-01-01 02284222 c:Director2 2024-01-01 2024-12-31 02284222 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 02284222 d:Buildings d:LongLeaseholdAssets 2024-12-31 02284222 d:Buildings d:LongLeaseholdAssets 2023-12-31 02284222 d:PlantMachinery 2024-01-01 2024-12-31 02284222 d:PlantMachinery 2024-12-31 02284222 d:PlantMachinery 2023-12-31 02284222 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02284222 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02284222 d:MotorVehicles 2024-01-01 2024-12-31 02284222 d:MotorVehicles 2024-12-31 02284222 d:MotorVehicles 2023-12-31 02284222 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02284222 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02284222 d:OfficeEquipment 2024-01-01 2024-12-31 02284222 d:OfficeEquipment 2024-12-31 02284222 d:OfficeEquipment 2023-12-31 02284222 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02284222 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02284222 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02284222 d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02284222 d:CurrentFinancialInstruments 2024-12-31 02284222 d:CurrentFinancialInstruments 2023-12-31 02284222 d:Non-currentFinancialInstruments 2024-12-31 02284222 d:Non-currentFinancialInstruments 2023-12-31 02284222 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 02284222 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02284222 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 02284222 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02284222 d:ShareCapital 2024-12-31 02284222 d:ShareCapital 2023-12-31 02284222 d:RetainedEarningsAccumulatedLosses 2024-12-31 02284222 d:RetainedEarningsAccumulatedLosses 2023-12-31 02284222 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 02284222 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02284222 c:FRS102 2024-01-01 2024-12-31 02284222 c:Audited 2024-01-01 2024-12-31 02284222 c:FullAccounts 2024-01-01 2024-12-31 02284222 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02284222 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 02284222 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 02284222 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-12-31 02284222 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 02284222 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02284222 2 2024-01-01 2024-12-31 02284222 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-12-31 02284222 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 02284222 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-12-31 02284222 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 02284222 d:LeasedAssetsHeldAsLessee 2024-12-31 02284222 d:LeasedAssetsHeldAsLessee 2023-12-31 02284222 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Registered number: 02284222


LACD UK LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024

 
LACD UK LIMITED
REGISTERED NUMBER: 02284222

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,010,776
1,966,809

  
2,010,776
1,966,809

Current assets
  

Stocks
  
9,539
75,935

Debtors
 5 
483,989
661,399

Cash at bank and in hand
 6 
241,182
155,919

  
734,710
893,253

Creditors: amounts falling due within one year
 7 
(1,659,955)
(1,474,279)

Net current liabilities
  
 
 
(925,245)
 
 
(581,026)

Total assets less current liabilities
  
1,085,531
1,385,783

Creditors: amounts falling due after more than one year
 8 
(551,970)
(459,657)

Provisions for liabilities
  

Deferred tax
 10 
(490,239)
(480,054)

  
 
 
(490,239)
 
 
(480,054)

Net assets
  
43,322
446,072


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
42,322
445,072

  
43,322
446,072


Page 1

 
LACD UK LIMITED
REGISTERED NUMBER: 02284222
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 by: 




D L Hanson
Director

Date: 21 March 2025

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

LACD UK Limited is a private company limited by shares and is incorporated and registered in England and Wales with registration number 02284222. The address of its registered office is 21 Island Farm Avenue, West Molesey, Surrey, England, KT8 2UZ.
The principal activity of the Company is that of providing manpower and equipment for events.

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

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.

Page 3

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

 
2.6

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.

Page 4

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Borrowing costs

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

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as set out below.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over the term of the lease
Plant and machinery
-
10%
straight line
Motor vehicles
-
20%
reducing balance
Office equipment
-
20%
reducing balance

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 6

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Page 7

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 27 (2023 - 29).


4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost


At 1 January 2024
99,884
7,680,621
44,893
442,860
8,268,258


Additions
28,895
376,295
9,700
6,459
421,349


Disposals
-
(3,461,581)
-
-
(3,461,581)



At 31 December 2024

128,779
4,595,335
54,593
449,319
5,228,026



Depreciation


At 1 January 2024
53,289
5,843,639
17,349
387,172
6,301,449


Charge for the year on owned assets
11,646
203,875
1,983
12,106
229,610


Charge for the year on financed assets
-
68,478
4,819
-
73,297


Disposals
-
(3,387,106)
-
-
(3,387,106)



At 31 December 2024

64,935
2,728,886
24,151
399,278
3,217,250



Net book value



At 31 December 2024
63,844
1,866,449
30,442
50,041
2,010,776



At 31 December 2023
46,595
1,836,982
27,544
55,688
1,966,809

Page 8

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
824,826
804,549

Motor vehicles
22,510
17,629

847,336
822,178

Page 9

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£



Trade debtors
167,985
299,402

Other debtors
133,856
202,295

Prepayments and accrued income
182,148
159,702

483,989
661,399


Included within other debtors is a deferred tax asset of £133,856 (2023: £193,856) relating to tax losses. At the year end the company had tax losses of £1,208,719 (2023: £858,772) available to be recovered against future profits.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
241,182
155,919

Less: bank overdrafts
(99)
-

241,083
155,919


Page 10

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
99
-

Bank loans
-
48,611

Trade creditors
411,500
318,234

Amounts owed to group undertakings
720,500
469,783

Corporation tax
2,593
2,593

Other taxation and social security
173,765
157,390

Obligations under finance lease and hire purchase contracts
105,291
84,960

Other creditors
28,287
25,358

Accruals and deferred income
217,920
367,350

1,659,955
1,474,279


The following liabilities were secured:

2024
2023
£
£



Bank overdraft
99
-

Bank loans
-
48,611

99
48,611

Details of security provided:

The bank overdraft is secured by a fixed and floating charge over the assets of the company.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
130,233
136,560

Amounts owed to group undertakings
421,737
323,097

551,970
459,657


Page 11

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
105,291
84,960

Between 1-5 years
130,233
136,560

235,524
221,520

The finance leases are secured on the assets concerned.


10.


Deferred taxation




2024
2023


£

£






At beginning of year
(480,054)
(388,523)


Charged to profit or loss
(10,185)
(91,531)



At end of year
(490,239)
(480,054)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(490,239)
(480,054)

(490,239)
(480,054)


11.


Prior year adjustment

The prior year adjustment separates the deferred tax asset and deferred tax liability.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £38,209 (2023 - £40,408). Contributions totalling £5,966 (2023 - £Nil) were payable to the fund at the balance sheet date.

Page 12

 
LACD UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Controlling party

The immediate and ultimate parent company is L-Acoustics Group SAS, a company incorporated in France. The smallest and largest group in which the Company's results are included are the consolidated financial statements of L-Acoustics Group SAS, copies of which can be obtained from the registered office address of the parent company 13 Rue de Lavacher Cintrat, 91460 Marcoussus, France.

14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was qualified.

The qualification in the audit report was as follows:
We were unable to gain sufficient appropriate evidence to support the existence of stock valued at £73,113. We were unable to inspect stock at the balance sheet date as we were appointed after this date and there was no practical method, retrospectively, by which we could physically inspect stock to ascertain the existence at the balance sheet date.

The audit report was signed on 21 March 2025 by Sonia Yeshin (Senior Statutory Auditor) on behalf of Adler Shine LLP.

 
Page 13