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REGISTERED NUMBER: 04515989 (England and Wales)




















Financial Statements

for the Period 1 January 2024 to 31 August 2024

for

LC2 Limited

LC2 Limited (Registered number: 04515989)






Contents of the Financial Statements
for the Period 1 January 2024 to 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LC2 Limited

Company Information
for the Period 1 January 2024 to 31 August 2024







DIRECTOR: S J Antrobus





REGISTERED OFFICE: 25-27 High Street
Corsham
Wiltshire
SN13 0ES





REGISTERED NUMBER: 04515989 (England and Wales)

LC2 Limited (Registered number: 04515989)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 646,405 641,014

CURRENT ASSETS
Stocks 2 -
Debtors 5 29,331 5,305
Cash at bank and in hand 74,074 64,912
103,407 70,217
CREDITORS
Amounts falling due within one year 6 113,804 30,353
NET CURRENT (LIABILITIES)/ASSETS (10,397 ) 39,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

636,008

680,878

PROVISIONS FOR LIABILITIES - 907
NET ASSETS 636,008 679,971

CAPITAL AND RESERVES
Called up share capital 116 116
Share premium 39,992 39,992
Retained earnings 595,900 639,863
636,008 679,971

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 director and authorised for issue on 29 May 2025 and were signed by:





S J Antrobus - Director


LC2 Limited (Registered number: 04515989)

Notes to the Financial Statements
for the Period 1 January 2024 to 31 August 2024

1. STATUTORY INFORMATION

LC2 Limited 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
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the Company and value added taxes.

Where the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes a financing transactions, the fair value of the consideration is measured as the present value of all future receipts using the inputted rate of interest.

The Company recognises revenue when the following conditions are satisfied:
i. the Company has transferred to the buyer the significant risks and rewards of ownership of the goods or
services;
ii. the Company retains neither continuing managerial involvement to the degree associated with ownership
nor effective control over the goods or services sold;
iii. the amount of revenue can be measured reliably;
iv. it is probable that the economic benefits associated with the transaction can be measured reliably.

Provision of educational services
Income represents school fees and extra charges relating to the three academic terms in the year and income from other activities. Fees invoiced in advance are carried forward for credit in the period to which they relate.

Interest receivable
Interest income is recognised using the effective interest method.

Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

LC2 Limited (Registered number: 04515989)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 31 August 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost
includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation and residual values
Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful
life as follows:

Short Leasehold - 4% on a straight line basis
Fixtures and fittings - 15% on a straight line basis
Computer equipment - 15% on a straight line basis
Plant & machinery - 15% on a straight line basis

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each
reporting period. The effect of any changes is accounted for prospectively.

Subsequent additions and major components
Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and the cost can be measured reliably.

The carrying amount of any replaced component is derecognised. Major components are treated as a separate asset when they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Repairs and maintenance costs are expensed as incurred.

Derecognition
Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

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 period 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 period 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.

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.

LC2 Limited (Registered number: 04515989)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 31 August 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 636,239 56,120 24,372 - 716,731
Additions - - 3,263 9,570 12,833
At 31 August 2024 636,239 56,120 27,635 9,570 729,564
DEPRECIATION
At 1 January 2024 - 51,345 24,372 - 75,717
Charge for period 5,302 1,734 47 359 7,442
At 31 August 2024 5,302 53,079 24,419 359 83,159
NET BOOK VALUE
At 31 August 2024 630,937 3,041 3,216 9,211 646,405
At 31 December 2023 636,239 4,775 - - 641,014

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,451 921
Other debtors - 4,384
Deferred tax asset 11,522 -
Prepayments and accrued income 15,358 -
29,331 5,305

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,330 2,672
Amounts owed to group undertakings 63,229 -
Tax 226 -
Social security and other taxes 3,418 10,437
Other creditors 21,657 17,244
Accruals and deferred income 12,944 -
113,804 30,353

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

The Report of the Auditors was unqualified.


In the previous accounting period the Directors of the Company took advantage of audit exemption under s.477 of the Companies Act 2006. Therefore, the comparatives in the financial statements were not subject to audit.

David Black (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited

LC2 Limited (Registered number: 04515989)

Notes to the Financial Statements - continued
for the Period 1 January 2024 to 31 August 2024

8. ULTIMATE CONTROLLING PARTY

The Company's parent company is Wishford Education Holdco 2 Limited. The smallest and largest group into which the results of LC2 Limited are consolidated in Wishford Education Group Limited.

Copies of the group financial statements may be obtained from 25-27 High Street, Corsham, Wiltshire, SN13 0ES.

9. CHANGE IN REPORTING FREQUENCY

The Company has changed its accounting reference date from December to August in order to align the Company with the Group's accounting reference date. This resulted in the current accounting period being 8 months, therefore, the comparative amounts presented in the financial statements are not entirely comparable.