Company registration number 15062956 (England and Wales)
LAK Group Holdings Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 September 2024
PAGES FOR FILING WITH REGISTRAR
LAK Group Holdings Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
LAK Group Holdings Limited
Statement Of Financial Position
as at 30 September 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
3
46,018
Current assets
Debtors
4
34,749
Cash at bank and in hand
200,000
234,749
Creditors: amounts falling due within one year
5
(260,123)
Net current liabilities
(25,374)
Net assets
20,644
Capital and reserves
Called up share capital
100
Profit and loss reserves
20,544
Total equity
20,644
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 8 May 2025
Miss L A Kelsey
Director
Company registration number 15062956 (England and Wales)
LAK Group Holdings Limited
Notes to the financial statements
for the year ended 30 September 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
LAK Group Holdings Limited
Notes to the financial statements (continued)
for the year ended 30 September 2024
1
Accounting policies
(continued)
- 3 -
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
Number
Total
1
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
46,018
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 10 August 2023
-
Additions
46,018
At 30 September 2024
46,018
Carrying amount
At 30 September 2024
46,018
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
34,749
5
Creditors: amounts falling due within one year
2024
£
Amounts owed to group undertakings
260,123
LAK Group Holdings Limited
Notes to the financial statements (continued)
for the year ended 30 September 2024
- 4 -
6
Company information
LAK Group Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is VWorks-Leeds North, 186 Otley Road, Headingley, Leeds, West Yorkshire, LS16 5PR.