Lucre London Limited - Accounts to registrar (filleted) - small 18.2
Lucre London Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 28 February 2019 |
| for |
| Lucre London Limited |
| Lucre London Limited (Registered number: 06134772) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Lucre London Limited |
| Company Information |
| for the Year Ended 28 February 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Sterling House |
| 1 Sheepscar Court |
| Meanwood Road |
| Leeds |
| West Yorkshire |
| LS7 2BB |
| Lucre London Limited (Registered number: 06134772) |
| Balance Sheet |
| 28 February 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on on its behalf by: |
| Lucre London Limited (Registered number: 06134772) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2019 |
| 1. | STATUTORY INFORMATION |
| Lucre London Limited is a |
| company's registered number and registered office address can be found on the Company |
| Information page. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of 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. |
| Tangible fixed assets |
| Leasehold improvements | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of |
| financial assets and liabilities like trade and other debtors and creditors, loans from banks and other |
| third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
| except to the extent that it relates to items recognised in other comprehensive income or directly in |
| equity. |
| Current or deferred 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in financial statements. Deferred tax is measured |
| using tax rates and laws that have been enacted or substantively enacted by the year end and that |
| are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is |
| probable that they will be recovered against the reversal of deferred tax liabilities or other future |
| taxable profits. |
| Lucre London Limited (Registered number: 06134772) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2019 |
| 3. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling |
| at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
| the operating result. |
| Operating leases: the company as leasee |
| Rentals paid under operating leases are charged to the statement of income and retained earnings on |
| a straight line basis over the lease term. |
| Benefits received and receivable as an incentive to sign an operating lease are recognised on a |
| straight line basis over the lease term, unless another systematic basis is representative of the time |
| pattern of the lessee's benefit from the use of the leased asset. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to profit or loss in the period to which they relate. |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty |
| on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no |
| more than three months from the date of acquisition and that are readily convertible to known |
| amounts of cash with insignificant risk of change in value. |
| Creditors |
| Short term creditors are measured at the transaction price. Other financial liabilities, including bank |
| loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at |
| amortised cost using the effective interest method. |
| Dividends |
| Equity dividends are recognised when they become legally payable. Interim equity dividends are |
| recognised when paid. Final equity dividends are recognised when approved by the shareholders at |
| an annual general meeting. |
| Provisions for liabilities |
| Provisions are made where an event has taken place that gives the Company a legal or constructive |
| obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate |
| can be made of the amount of the obligation. |
| Provisions are charged as an expense to the statement of income and retained earnings in the year |
| that the Company becomes aware of the obligation, and are measured at the best estimate at the |
| balance sheet date of the expenditure required to settle the obligation, taking into account relevant |
| risks and uncertainties. |
| When payments are eventually made, they are charged to the provision carried in the balance sheet. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Lucre London Limited (Registered number: 06134772) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Leasehold | and | Computer |
| improvements | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 March 2018 |
| Additions |
| At 28 February 2019 |
| DEPRECIATION |
| At 1 March 2018 |
| Charge for year |
| At 28 February 2019 |
| NET BOOK VALUE |
| At 28 February 2019 |
| At 28 February 2018 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 25,323 | 19,174 |
| Other creditors |
| Accruals and deferred income |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2019 | 2018 |
| £ | £ |
| Within one year |
| Between one and five years |
| Lucre London Limited (Registered number: 06134772) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2019 |
| 9. | PROVISIONS FOR LIABILITIES |
| 2019 | 2018 |
| £ | £ |
| Deferred tax | 3,811 | 3,387 |
| Deferred |
| tax |
| £ |
| Balance at 1 March 2018 |
| Provided during year |
| Balance at 28 February 2019 |
| 10. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme for the benefit of its employees. The |
| assets of the scheme are administered by trustees in a fund independent from those of the company. |
| The total contributions paid in the year amounted to £10,239 (2018: £8,823). There were |
| contributions of £1,705 outstanding at the year end (2018: £1,226). |
| 11. | RELATED PARTY TRANSACTIONS |
| At the year end, included within debtors, is a balance of £29,724 (2018: £29,724) due from a |
| connected company. The two companies are connected as they are under common control. |
| On 16 September 2010 the company became party to a cross-company guarantee with its other |
| group companies, Lucre Marketing Limited and Lucre Holdings Limited, along with Lucre Social |
| Limited which is related because of common control, in respect of amounts owed to Barclays Bank |
| Plc. The total indebtedness at 28 February 2019 of the companies amounted to £Nil (2018: £7,671). |
| The company has taken advantage of the exemption in Section 1A of FRS102 to not disclose |
| transactions entered into with wholly owned subsidiary undertakings. |
| No further transactions with related parties were undertaken such as are required to be disclosed |
| under Section 1A of FRS 102. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company of Lucre London Limited is Lucre Holdings Limited which holds 100% |
| of the issued share capital. Lucre Holdings Limited is a company that is incorporated and registered |
| in England and Wales. |