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REGISTERED NUMBER: 14824291 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

LOLA PERFORMANCE TECHNOLOGIES LTD

LOLA PERFORMANCE TECHNOLOGIES LTD (REGISTERED NUMBER: 14824291)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOLA PERFORMANCE TECHNOLOGIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr T A Bechtolsheimer
Mr M R Wilson





REGISTERED OFFICE: 9th Floor 107 Cheapside
London
EC2V 6DN





REGISTERED NUMBER: 14824291 (England and Wales)

LOLA PERFORMANCE TECHNOLOGIES LTD (REGISTERED NUMBER: 14824291)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 12,424 22,363
Tangible assets 5 285,045 21,192
297,469 43,555

CURRENT ASSETS
Stocks 1,045,208 -
Debtors 6 7,297,787 673,954
Cash at bank 351,788 -
8,694,783 673,954
CREDITORS
Amounts falling due within one year 7 9,110,467 1,526,701
NET CURRENT LIABILITIES (415,684 ) (852,747 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(118,215

)

(809,192

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (118,216 ) (809,193 )
(118,215 ) (809,192 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LOLA PERFORMANCE TECHNOLOGIES LTD (REGISTERED NUMBER: 14824291)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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

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 30 April 2025 and were signed on its behalf by:





Mr M R Wilson - Director


LOLA PERFORMANCE TECHNOLOGIES LTD (REGISTERED NUMBER: 14824291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Lola Performance Technologies Ltd is a private company, limited by shares , 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33.33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

LOLA PERFORMANCE TECHNOLOGIES LTD (REGISTERED NUMBER: 14824291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company is reliant on other related parties which are under common control.. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 29,817
AMORTISATION
At 1 October 2023 7,454
Charge for year 9,939
At 30 September 2024 17,393
NET BOOK VALUE
At 30 September 2024 12,424
At 30 September 2023 22,363

LOLA PERFORMANCE TECHNOLOGIES LTD (REGISTERED NUMBER: 14824291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 October 2023 - 25,730 25,730
Additions 257,031 39,748 296,779
At 30 September 2024 257,031 65,478 322,509
DEPRECIATION
At 1 October 2023 - 4,538 4,538
Charge for year 20,788 12,138 32,926
At 30 September 2024 20,788 16,676 37,464
NET BOOK VALUE
At 30 September 2024 236,243 48,802 285,045
At 30 September 2023 - 21,192 21,192

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 7,297,787 673,954

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 748,036 654,474
Taxation and social security 827,173 -
Other creditors 7,535,258 872,227
9,110,467 1,526,701

8. RELATED PARTY DISCLOSURES

Mr T A Bechtolsheimer and Mr M R Wilson, directors, are also directors of Lola Cars Limited. At the end of the period the amount owed by Lola Performance Technologies amounted to £1,203,914 (2023: £856,440).

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr T A Bechtolsheimer.