Company registration number 06689445 (England and Wales)
LAK Locums Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 September 2024
PAGES FOR FILING WITH REGISTRAR
LAK Locums Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LAK Locums Limited
Balance Sheet
as at 30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
-
0
51
Current assets
Debtors
5
913,274
864,335
Cash at bank and in hand
36,873
57,353
950,147
921,688
Creditors: amounts falling due within one year
6
(254,129)
(224,645)
Net current assets
696,018
697,043
Net assets
696,018
697,094
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
695,918
696,994
Total equity
696,018
697,094

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 profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 June 2025 and are signed on its behalf by:
Miss L A Kelsey
Director
Company registration number 06689445 (England and Wales)
LAK Locums 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.

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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised into the period in which the provision of services relate and consists of the provision of medical locums and related commissions.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% straight line
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 balance sheet when the company becomes party to the contractual provisions of the instrument.

LAK Locums Limited
Notes to the financial statements (continued)
for the year ended 30 September 2024
1
Accounting policies
(continued)
- 3 -
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
20
20
LAK Locums Limited
Notes to the financial statements (continued)
for the year ended 30 September 2024
- 4 -
3
Tangible fixed assets
Computers
£
Cost
At 1 October 2023 and 30 September 2024
18,037
Depreciation and impairment
At 1 October 2023 and 30 September 2024
18,037
Carrying amount
At 30 September 2024
-
0
At 30 September 2023
-
0
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
-
0
51
Fixed asset investments not carried at market value

Shares held in the subsidiary are held at cost less any accumulated impairment.

Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 October 2023
51
Disposals
(51)
At 30 September 2024
-
Carrying amount
At 30 September 2024
-
At 30 September 2023
51
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
554,688
701,477
Amounts owed by group undertakings
260,072
61,042
Other debtors
98,514
101,816
913,274
864,335
LAK Locums Limited
Notes to the financial statements (continued)
for the year ended 30 September 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
17,799
32,883
Amounts owed to group undertakings
14,445
-
0
Taxation and social security
149,616
140,695
Other creditors
72,269
51,067
254,129
224,645
7
Company information

LAK Locums 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.

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