Lumio Technologies Ltd.
Lumio Technologies Ltd.
Registered number: 10257486
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 January 2019
McManus Williams Limited
Lumio Technologies Ltd.
Unaudited Financial Statements
For The Year Ended 31 January 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Balance Sheet | 1—2 |
| Notes to the Abridged Financial Statements | 3—4 |
Lumio Technologies Ltd.
Abridged Balance Sheet
As at
31 January 2019
Abridged Balance Sheet
Registered number:
10257486
For the year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 31 January 2019 | Period to 31 January 2018 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 4 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (30,680) | (11,111) | |||
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Lumio Technologies Ltd.
Abridged Balance Sheet (continued)
As at
31 January 2019
Directors' responsibilities:
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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 for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
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All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 January 2019 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Lumio Technologies Ltd.
Notes to the Abridged Financial Statements
For The Year Ended 31 January 2019
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are the development costs incurred to date in working towards bringing the company's primary product to market. At present the development is still in progress so the intangible asset is not currently being amortised, however it will be assessed for impairment periodically. Once development is completed and economic benefits begin to flow from the product, it will be amortised over its estimated economic life, which will be determined at the point of completion.
2.
Average Number of Employees
Average number of employees, including directors, during the year was 2 (2018 - 2).
3.
Intangible Assets
| Total | |||
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| Cost | |||
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| Additions |
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| Net Book Value | |||
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Lumio Technologies Ltd.
Notes to the Abridged Financial Statements (continued)
For The Year Ended 31 January 2019
5.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Land and buildings | ||
|---|---|---|
| 31 January 2019 | Period to 31 January 2018 | |
| £ | £ | |
| Within 1 year | 7,128 | - |
| 7,128 | - | |
6.
General Information
Lumio Technologies Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 10257486 . The registered office is Suite 2, Bellevue Mansions, 18-22 Bellevue Road, Clevedon, North Somerset, BS21 7NU.
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