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REGISTERED NUMBER: 14318740 (England and Wales)












THE LANCASHIRE AND CUMBRIA INSTITUTE OF
TECHNOLOGY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






THE LANCASHIRE AND CUMBRIA INSTITUTE OF
TECHNOLOGY LIMITED (REGISTERED NUMBER: 14318740)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


THE LANCASHIRE AND CUMBRIA INSTITUTE OF
TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Ms K Buchanan
Ms J Cole
Ms L M Dean
Professor S L Kemp
D L Rothwell
V St John Crean





REGISTERED OFFICE: Blackpool and the Fylde College
Ashfield Road
Bispham
Blackpool
Lancashire
FY2 0HB





REGISTERED NUMBER: 14318740 (England and Wales)





AUDITORS: Rushtons
Chartered Accountants
Statutory Auditors
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB

THE LANCASHIRE AND CUMBRIA INSTITUTE OF
TECHNOLOGY LIMITED (REGISTERED NUMBER: 14318740)

ABRIDGED BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 6,684 2,507

CURRENT ASSETS
Debtors 285,984 48,763
Cash at bank 292,602 516,925
578,586 565,688
CREDITORS
Amounts falling due within one year 404,149 568,195
NET CURRENT ASSETS/(LIABILITIES) 174,437 (2,507 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,121

-

RESERVES
Income and expenditure account 181,121 -
181,121 -

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





Ms L M Dean - Director


THE LANCASHIRE AND CUMBRIA INSTITUTE OF
TECHNOLOGY LIMITED (REGISTERED NUMBER: 14318740)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

The Lancashire and Cumbria Institute of Technology Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is included in the financial statements as it becomes receivable.

Expenses include VAT where applicable as the company cannot reclaim it.

Intangible assets
Intangible assets are initially measured at cost. There has been no amortisation accounted for during the year.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

The company meets the definition of a mutual trading company and any surplus from mutual trading is not liable for corporation tax. Any income which does not fall under the definition of mutual trading is subject to corporation tax.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

THE LANCASHIRE AND CUMBRIA INSTITUTE OF
TECHNOLOGY LIMITED (REGISTERED NUMBER: 14318740)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023 2,507
Additions 4,177
At 31 July 2024 6,684
NET BOOK VALUE

At 31 July 2024 6,684
At 31 July 2023 2,507

5. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Adam Calvert ACA (Senior Statutory Auditor)
for and on behalf of Rushtons

6. LIMITED BY GUARANTEE

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required.

7. NON-AUDIT SERVICES

In common with many other businesses of our size and nature, we use our auditor to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.