FRS 105

LK2 SPORT & LEISURE LTD - Company Information

1-8-202231-7-202331-7-2023No description of principal activityIRIS Elements Accounts Production24.3false1-8-202131-7-202233The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 July 2023.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.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 Profit and loss account has not been delivered to the Registrar.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 historic cost convention.Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure092051632022-08-01092051632023-07-31092051632022-08-012023-07-31092051632021-08-01092051632021-08-012022-07-31092051632022-07-3109205163ns14:PoundSterling2022-08-012023-07-3109205163ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3109205163ns10:FilletedAccounts2022-08-012023-07-3109205163ns10:SmallEntities2022-08-012023-07-3109205163ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3109205163ns5:CurrentFinancialInstruments2023-07-3109205163ns5:CurrentFinancialInstruments2022-07-3109205163ns5:ShareCapital2023-07-3109205163ns5:ShareCapital2022-07-3109205163ns5:RetainedEarningsAccumulatedLosses2023-07-3109205163ns5:RetainedEarningsAccumulatedLosses2022-07-3109205163ns10:Director12022-08-012023-07-3109205163ns5:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-31


	Company registration number:	09205163

	Unaudited financial statements
	for the year ended 31 July 2023
	for
	LK2 Sport & Leisure Ltd


	Pages for filing with the Registrar


Company registration number:						09205163
LK2 Sport & Leisure Ltd

Balance sheet
as at 31 July 2023

		2023		2022
	Note	£	£	£	£
Intangible assets	4	-		-
Current assets
Debtors		19,303		32,402
Cash at bank and in hand		4,660		7,507
			23,963		39,909
Creditors: amounts falling due within one year			(55,354)		(71,300)
Net current liabilities			(31,391)		(31,391)
NET LIABILITIES			(31,391)		(31,391)

Capital and reserves
Called up share capital			400		400
Profit and loss account			(31,791)		(31,791)
TOTAL EQUITY			(31,391)		(31,391)


The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 July 2023.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.

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	Company registration number:		09205163
	LK2 Sport & Leisure Ltd

	Balance sheet - continued
	as at 31 July 2023

	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 Profit and loss account has not been delivered to the Registrar.

	These financial statements were approved by the Board of directors and authorised for issue on 19 February 2024 and signed on its behalf by:

	Mr D Lui, Director
	19 February 2024

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LK2 Sport & Leisure Ltd

Notes to the financial statements
for the year ended 31 July 2023


1	Company information

	The company is registered in England and Wales. Its registered number is 09205163. The company is limited by shares. Its registered office is Studio One, Deepdale Enterprise Park, Lincoln, Lincolnshire, LN2 2LL.

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 historic cost convention.

	Presentation currency
	The company's financial statements are presented in sterling.

	Going concern
	In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.

	The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.

	Intangible assets
	Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

	Goodwill	-	20% straight line

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LK2 Sport & Leisure Ltd

Notes to the financial statements - continued
for the year ended 31 July 2023

2	Accounting policies - continued

	Taxation
	Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

	Current 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.

	Retirement benefits
	The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.

3	Average number of employees

	During the year the average number of employees was 3 (2022 - 3).

4	Intangible assets

		Goodwill
		£
	Cost
	At 1 August 2022	80,000
	Disposals	(80,000)
	At 31 July 2023	-

	Amortisation
	At 1 August 2022	80,000
	Eliminated on disposal	(80,000)
	At 31 July 2023	-

	Net book value
	At 31 July 2023	-

	At 31 July 2022	-


5	Directors' Advances, Credits and Guarantees

	The directors have directors loan accounts totalling £7,644 (£7,644) overdrawn brought forward. During the year, the directors of the company borrowed £21 (£Nil) from the company and repaid £61 (£Nil). The balance at the end of the year totalled £7,604 (£7,644) overdrawn.

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