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Registration number: 09957571

LCAK Services Ltd

Unaudited Filleted Financial Statements

for the Period from 1 February 2024 to 30 June 2025

 

LCAK Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

LCAK Services Ltd

Company Information

Director

Mrs Laureen Chinyere Akaegbu

Registered office

21 Holstein Street
Manchester
M13 9GT

Solicitors

Arrow Law Limited
Suite 1, Parkway Five
Parkway Business Centre
Princess Road
Manchester
M14 7HR

Bankers

Natwest
Manchester

Accountants

Flexibility Professional Services (UK) Ltd Cherry Tree Court
36 Ferensway
Hull
East Yorkshire
HU2 8NH

 

LCAK Services Ltd

(Registration number: 09957571)
Balance Sheet as at 30 June 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

13,298

17,731

Investment property

5

790,000

387,100

 

803,298

404,831

Current assets

 

Debtors

6

35,805

-

Cash at bank and in hand

 

6,733

10,465

 

42,538

10,465

Creditors: Amounts falling due within one year

7

(459,842)

(403,438)

Net current liabilities

 

(417,304)

(392,973)

Total assets less current liabilities

 

385,994

11,858

Creditors: Amounts falling due after more than one year

7

(116,332)

-

Provisions for liabilities

(56,550)

-

Net assets

 

213,112

11,858

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

159,675

-

Retained earnings

53,337

11,758

Shareholders' funds

 

213,112

11,858

For the financial period ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 July 2025
 

 

LCAK Services Ltd

(Registration number: 09957571)
Balance Sheet as at 30 June 2025

.........................................
Mrs Laureen Chinyere Akaegbu
Director

 

LCAK Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 30 June 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
21 Holstein Street
Manchester
M13 9GT
United Kingdom

These financial statements were authorised for issue by the director on 28 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are charged to the Profit and Loss account on accrual basis unless they are connected to an asset purchase in which case they amortised over the life of the asset. Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of comprehensive income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 

LCAK Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 30 June 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

Reducing balance @ 15%

Office equipment

Reducing balance @ 25%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

LCAK Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 30 June 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2024 - 1).

 

LCAK Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 30 June 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2024

43,923

43,923

At 30 June 2025

43,923

43,923

Depreciation

At 1 February 2024

26,192

26,192

Charge for the period

4,433

4,433

At 30 June 2025

30,625

30,625

Carrying amount

At 30 June 2025

13,298

13,298

At 31 January 2024

17,731

17,731

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings.
 

5

Investment properties

2025
£

At 1 February

387,100

Additions

212,900

Acquired through business combinations

190,000

At 30 June

790,000

 

LCAK Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 30 June 2025

The fair value of investment properties has been determined in accordance with the requirements of FRS 102, Section 16 Investment Property, and reflects market conditions at the balance sheet date of 30 June 2025.

As at that date, the company held two investment properties. The methods and assumptions used to determine their fair values are as follows:

376 Slade Lane: The fair value has been determined based on a valuation carried out by an independent, professionally qualified surveyor with recent experience in the location and type of the property. The valuation was performed using the market approach, reflecting recent prices for comparable properties in the area, adjusted to reflect the specific characteristics of this property. No significant unobservable inputs or estimates were applied beyond those inherent in the use of market-based data.

96 Fitzwarren Street: This property was acquired shortly before the year end. Given the close proximity of the purchase date to 30 June 2025 and no indication of changes in market conditions, the fair value has been taken to be the recent purchase price. No uplift or adjustment has been made, as management considers the purchase price to be a reasonable approximation of fair value as at the reporting date.

Management has reviewed both valuations for appropriateness and consistency with market data and considers the methods and assumptions used to be reasonable.

Carrying amount of investment property rented to another group entity

The carrying amount of investment property rented to another group entity was £ 790,000 (2024 - £Nil) .

6

Debtors

Current

2025
£

2024
£

Trade debtors

30,000

-

Prepayments

4,400

-

Other debtors

1,405

-

 

35,805

-

 

LCAK Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 30 June 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10

248,820

10,465

Taxation and social security

 

9,222

4,373

Accruals and deferred income

 

1,800

-

Other creditors

 

200,000

388,600

 

459,842

403,438

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

10

116,332

-

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary £1 of £1 each

100

100

100

100

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current period were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

159,675

159,675

 

LCAK Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 30 June 2025

Tangible assets
2025
£

Total amount of revalued assets

790,000

Amount of revaluation for the year

212,900

Total carrying amount of assets had they not been revalued

577,100

10

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

116,332

-

Current loans and borrowings

2025
£

2024
£

Bank borrowings

204,071

-

Other borrowings

44,749

10,465

248,820

10,465

Bank borrowings

Together Commercial Finance - term loan is denominated in GBP with a nominal interest rate of 9.99%, and the final instalment is due on 31 August 2039. The carrying amount at period end is £120,403 (2024 - £Nil).

The security provided in respect of the loan includes:

A legal charge (Standard Security in Scotland) over the property located at 96 Fitzwarren Street, Salford, M6 5RS.

A floating charge over all the assets of the Company.

A personal guarantee provided by Mrs Laureen Chinyere Akaegbu.

These securities have been granted to the lender to secure the repayment of the outstanding bank borrowings.

 

LCAK Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 30 June 2025

Together Commercial Finance - bridging loan is denominated in GBP with a nominal interest rate of 13.80%, and the final instalment is due on 16 August 2025. The carrying amount at period end is £200,000 (2024 - £Nil).

The security provided in respect of the loan includes:

A legal charge (Standard Security in Scotland) over the property located at 376 Slade Lane, Manchester, M19 2BU

A floating charge over all the assets of the Company.

A personal guarantee provided by Mrs Laureen Chinyere Akaegbu.

These securities have been granted to the lender to secure the repayment of the outstanding bank borrowings.

11

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £2,000.00 (2024 - £Nil) per each Ordinary £1

200,000

-

 

 

12

Related party transactions

Summary of transactions with parent

Unique Care Holdings Ltd Intercompany dividend paid to parent.

Summary of transactions with associates

Care Success Services Ltd Provision of services and lease of premises to group entity.

Income and receivables from related parties

2025

Associates
£

Receipt of services

30,000

Leases

100,450

130,450

Amounts receivable from related party

30,000

2024

Associates
£

Receipt of services

75,000

 

LCAK Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2024 to 30 June 2025

Loans from related parties

2025

Parent
£

Key management
£

Total
£

At start of period

-

10,465

10,465

Advanced

200,000

71,950

271,950

Repaid

-

(37,664)

(37,664)

At end of period

200,000

44,751

244,751

2024

Key management
£

Total
£

Advanced

10,465

10,465

At end of period

10,465

10,465

Terms of loans from related parties

Unsecured loan capital provided with no formal repayment terms.
 

13

Parent and ultimate parent undertaking

The company's immediate parent is Unique Care Holdings Ltd, incorporated in England and Wales.