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REGISTERED NUMBER: 13658992 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

LOLA CARS LTD

LOLA CARS LTD (REGISTERED NUMBER: 13658992)

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 CARS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr T A Bechtolsheimer
Mr M R Wilson





SECRETARY: Ohs Secretaries Limited





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





REGISTERED NUMBER: 13658992 (England and Wales)

LOLA CARS LTD (REGISTERED NUMBER: 13658992)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 469,593 75,129
Investments 5 2,018,836 -
2,488,429 75,129

CURRENT ASSETS
Stocks 285,053 -
Debtors 6 13,158,184 1,595,226
Cash at bank 532,621 794,898
13,975,858 2,390,124
CREDITORS
Amounts falling due within one year 7 9,174,297 4,516,864
NET CURRENT ASSETS/(LIABILITIES) 4,801,561 (2,126,740 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,289,990

(2,051,611

)

CAPITAL AND RESERVES
Called up share capital 12,750,845 1
Retained earnings (5,460,855 ) (2,051,612 )
7,289,990 (2,051,611 )

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 CARS LTD (REGISTERED NUMBER: 13658992)

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 CARS LTD (REGISTERED NUMBER: 13658992)

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


1. STATUTORY INFORMATION

Lola Cars 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - equal instalments over the lease period
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.33% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 CARS LTD (REGISTERED NUMBER: 13658992)

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 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 5 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 2,138 100,000 306 4,992 107,436
Additions 307,840 89,767 30,261 28,279 456,147
At 30 September 2024 309,978 189,767 30,567 33,271 563,583
DEPRECIATION
At 1 October 2023 - 32,000 19 288 32,307
Charge for year 24,854 24,385 5,646 6,798 61,683
At 30 September 2024 24,854 56,385 5,665 7,086 93,990
NET BOOK VALUE
At 30 September 2024 285,124 133,382 24,902 26,185 469,593
At 30 September 2023 2,138 68,000 287 4,704 75,129

LOLA CARS LTD (REGISTERED NUMBER: 13658992)

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


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 2,018,836
At 30 September 2024 2,018,836
NET BOOK VALUE
At 30 September 2024 2,018,836

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,519,463 654,474
Other debtors 10,638,721 940,752
13,158,184 1,595,226

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,796,530 159,305
Taxation and social security - 57,645
Other creditors 2,377,767 4,299,914
9,174,297 4,516,864

8. RELATED PARTY DISCLOSURES

Mr T A Bechtolsheimer and Mr M R Wilson, directors, are also directors of Lola Performance Technologies Limited and Lola Formula E Team Ltd. At the end of the period the amount owed by Lola Performance Technologies amounted to £1,203,914 (2023: £856,440). At the end of the period the amount owed by Lola Formula E Team Ltd amounted to £2,040.

The amount owed to the directors at the end of the period amounted to £Nil (2023: £4,160,000).

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr T A Bechtolsheimer.