LSL (SM1) Ltd 09867674 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is marketing and lottery sales. Digita Accounts Production Advanced 6.30.9574.0 true false true 09867674 2023-08-01 2024-07-31 09867674 2024-07-31 09867674 2 2024-07-31 09867674 core:CurrentFinancialInstruments 2024-07-31 09867674 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 09867674 core:ParentEntities 2024-07-31 09867674 bus:SmallEntities 2023-08-01 2024-07-31 09867674 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09867674 bus:FilletedAccounts 2023-08-01 2024-07-31 09867674 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09867674 bus:RegisteredOffice 2023-08-01 2024-07-31 09867674 bus:Director2 2023-08-01 2024-07-31 09867674 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09867674 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-08-01 2024-07-31 09867674 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2023-08-01 2024-07-31 09867674 core:ParentEntities 2023-08-01 2024-07-31 09867674 core:ParentEntities core:TransfersUnderLicenceArrangementsRoyalties 2023-08-01 2024-07-31 09867674 1 2023-08-01 2024-07-31 09867674 countries:England 2023-08-01 2024-07-31 09867674 2023-07-31 09867674 core:ParentEntities 2023-07-31 09867674 2022-08-01 2023-07-31 09867674 2023-07-31 09867674 2 2023-07-31 09867674 core:CurrentFinancialInstruments 2023-07-31 09867674 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 09867674 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-07-31 09867674 core:ParentEntities 2023-07-31 09867674 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2022-08-01 2023-07-31 09867674 core:ParentEntities 2022-08-01 2023-07-31 09867674 core:ParentEntities core:TransfersUnderLicenceArrangementsRoyalties 2022-08-01 2023-07-31 09867674 2022-07-31 09867674 core:ParentEntities 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 09867674

LSL (SM1) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

LSL (SM1) Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

LSL (SM1) Ltd

(Registration number: 09867674)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

-

181

Debtors

5

4,485

12,783

Cash at bank and in hand

 

11,488

10,703

 

15,973

23,667

Creditors: Amounts falling due within one year

6

(16,730)

(23,249)

Net (liabilities)/assets

 

(757)

418

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(758)

417

Shareholders' (deficit)/funds

 

(757)

418

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 April 2025 and signed on its behalf by:
 

.........................................
Mr N M Palich
Director

 

LSL (SM1) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ribble Court
Mead Way
Padiham
Burnley
Lancashire
BB12 7NG

These financial statements were authorised for issue by the Board on 7 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company relies on the continuing financial support of the parent company.

The directors of the parent company have indicated that this support will continue.

On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the parent company's financial support.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

LSL (SM1) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

LSL (SM1) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Stocks

2024
£

2023
£

Other inventories

-

181

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

4,485

12,216

Corporation tax recoverable

-

567

 

4,485

12,783

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

107

2,377

Accruals and deferred income

600

600

Other creditors

16,023

20,272

16,730

23,249

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

8

Related party transactions

Summary of transactions with parent

Lottery Services Limited
 

Summary of transactions with entities with joint control or significant interest

Barry Kilby Prostate Cancer Appeal.
 

 

LSL (SM1) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Sale of goods

839

2023

Entities with joint control or significant influence
£

Sale of goods

2,349

Amounts receivable from related party

1,908

Expenditure with and payables to related parties

2024

Parent
£

Management fees

507

2023

Parent
£

Management fees

12

Loans from related parties

2024

Parent
£

Total
£

At start of period

17,012

17,012

Repaid

(7,012)

(7,012)

At end of period

10,000

10,000

2023

Parent
£

Total
£

At start of period

23,500

23,500

Repaid

(6,488)

(6,488)

At end of period

17,012

17,012

9

Control

The ultimate controlling party is Mr B C Kilby.