REGISTERED NUMBER: |
THE LANCASHIRE AND CUMBRIA INSTITUTE OF |
TECHNOLOGY LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Additions |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |