LK Management Limited - Accounts

LK Management Limited - Accounts

LK MANAGEMENT LIMITED - Company Information

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Registered Number: 06131149
England and Wales

 

 

 

LK MANAGEMENT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2021

End date: 30 September 2022

LK Management Limited
Contents Page
For the year ended 30 September 2022
Registered Number 06131149
Registered Office Unit 29 Eton Business Park
Eton Hill Road
Radcliffe
Manchester
M26 2ZS
Accountants Houghtons
Chartered Certified Accountants
3 Buckingham Road West
Heaton Moor
Stockport
SK4 4AZ
Bankers The Co-operative Bank Plc
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 30 September 2022
Directors
The directors who served the company throughout the year were as follows:
PJ Leyden
CR Leyden
Statement of directors' responsibilities
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board and signed on its behalf by:


----------------------------------
CR Leyden
Director

Date approved: 20 June 2023
2
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 4 500,277    381 
500,277    381 
Current assets      
Debtors 5 89,652    351,301 
Cash at bank and in hand 147,124    132,998 
236,776    484,299 
Creditors: amount falling due within one year 6 (144,551)   (93,489)
Net current assets 92,225    390,810 
 
Total assets less current liabilities 592,502    391,191 
Provisions for liabilities 7 (25,792)   - 
Net assets 566,710    391,191 
 

Capital and reserves 		     
Called up share capital 8 210    210 
Fair Value Reserves 9 135,747    - 
Profit and loss account 430,753    390,981 
Shareholder's funds 566,710    391,191 
 


For the year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 June 2023 and were signed on its behalf by:


-------------------------------
CR Leyden
Director
3
General Information
LK Management Limited is a private company, limited by shares, registered in England and Wales, registration number 06131149, registration address Unit 29 Eton Business Park, Eton Hill Road, Radcliffe, Manchester, M26 2ZS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Research and development expenditure
Expenditure on research and development is written off against profit in the year it is incurred.
Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Deferred taxation
Deferred tax is provided in full in respect of material taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.
Plant and Machinery 25% Straight Line
Computer Equipment 25% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Pension costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
2.

Directors' Emoluments

2022   2021
 
Number of directors to whom retirement benefits accrued Number   Number
Defined contribution plans 1    1 


3.

Average number of employees


Average number of employees during the year was 3 (2021 : 2).
4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Investment properties   Total
  £   £   £   £
At 01 October 2021 8,152    2,949    -    11,101 
Additions -    -    364,253    364,253 
Disposals -    -    -    - 
Revaluations -    -    135,747    135,747 
At 30 September 2022 8,152    2,949    500,000    511,101 
Depreciation
At 01 October 2021 8,152    2,568    -    10,720 
Charge for year -    104    -    104 
On disposals -    -    -    - 
At 30 September 2022 8,152    2,672    -    10,824 
Net book values
Closing balance as at 30 September 2022 -    277    500,000    500,277 
Opening balance as at 01 October 2021 -    381    -    381 


5.

Debtors: amounts falling due within one year

2022
£		   2021
£
Trade Debtors 69,323    86,833 
Other Debtors 20,329    264,468 
89,652    351,301 

6.

Creditors: amount falling due within one year

2022
£		   2021
£
Trade Creditors 27,349    23,747 
Taxation and Social Security 60,037    1,738 
Other Creditors 57,165    68,004 
144,551    93,489 

7.

Provisions for liabilities

2022
£		   2021
£
Deferred Tax 25,792    - 
25,792    - 

8.

Share Capital

Allotted, called up and fully paid
2022
£		   2021
£
200 Ordinary A Shares shares of £1.00 each 200    200 
10 Ordinary C Shares shares of £1.00 each 10    10 
210    210 

9.

Fair Value Reserves

2022
£		   2021
£
Fair Value Reserve 135,747    - 
135,747    - 

10.

Controlling Party

In the opinion of the Directors, the company's Ultimate Parent Company and Ultimate Controlling Party is Leyden Kirby Associates Limited, a company incorporated in England and Wales, registered office and main place of business, Unit 29 Eton Business Park, Eton Hill Road, Radcliffe, Greater Manchester, M26 2ZS
4