Luka 1 Limited - Accounts to registrar (filleted) - small 23.2.5
Luka 1 Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2023 |
| for |
| Luka 1 Limited |
| Luka 1 Limited (Registered number: 04512302) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2023 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| Luka 1 Limited |
| Company Information |
| for the Year Ended 31 December 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 68 Queen Street |
| Sheffield |
| South Yorkshire |
| S1 1WR |
| BANKERS: |
| First Floor |
| Spire Walk |
| Chesterfield |
| South Yorkshire |
| S40 2WG |
| SOLICITORS: |
| No 1 Velocity |
| 2 Tenter Street |
| Sheffield |
| South Yorkshire |
| S1 4BY |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Luka 1 Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Luka 1 Limited for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Luka 1 Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Luka 1 Limited and state those matters that we have agreed to state to the Board of Directors of Luka 1 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Luka 1 Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Luka 1 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Luka 1 Limited. You consider that Luka 1 Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Luka 1 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 68 Queen Street |
| Sheffield |
| South Yorkshire |
| S1 1WR |
| Luka 1 Limited (Registered number: 04512302) |
| Balance Sheet |
| 31 December 2023 |
| 31/12/23 | 31/12/22 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Investments | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Luka 1 Limited (Registered number: 04512302) |
| Balance Sheet - continued |
| 31 December 2023 |
| 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 and authorised for issue on |
| Luka 1 Limited (Registered number: 04512302) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2023 |
| 1. | STATUTORY INFORMATION |
| Luka 1 Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on a going concern basis. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Luka 1 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Financial instruments |
| Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Current asset investments that are not long term cash deposits and included in portfolios are valued by the investment managers as follows:- |
| Quoted securities are mid -market closing prices provided by the London Stock Exchange. |
| Unit Trusts and Collective investments show mid market prices at the last valuation point. |
| Prices for unquoted and illiquid securities have been obtained from sources believed to be independent. |
| Luka 1 Limited (Registered number: 04512302) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2023 |
| Disposals | ( |
) |
| At 31 December 2023 |
| NET BOOK VALUE |
| At 31 December 2023 |
| At 31 December 2022 |
| Luka 1 Limited (Registered number: 04512302) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2023 |
| and 31 December 2023 |
| NET BOOK VALUE |
| At 31 December 2023 |
| At 31 December 2022 |
| The company's investment property was revalued on an open market basis on 25 July 2022 by M Hull MRICS of SMC Brownill Vickers, Chartered Surveyors, 82 Queen Street, Sheffield S1 2DW, as follows:- |
| Freehold land and buildings £1,660,000. |
| The directors do not consider there has been any material change in its valuation since that date. |
| Fair value at 31 December 2023 is represented by: |
| £ |
| Valuation in 2019 | 250,075 |
| Valuation in 2021 | 290,000 |
| Cost | 1,119,925 |
| 1,660,000 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/23 | 31/12/22 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments |
| 7. | CURRENT ASSET INVESTMENTS |
| 31/12/23 | 31/12/22 |
| £ | £ |
| Listed investments | 459,616 | 438,225 |
| Unlisted investments | 286,527 | 567,469 |
| Market value of listed investments at 31 December 2023 - £ 459,616 (2022 - £ 438,225 ). |
| Luka 1 Limited (Registered number: 04512302) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/23 | 31/12/22 |
| £ | £ |
| Amounts owed to group undertakings |
| Tax |
| VAT | 5,138 | - |
| Directors' current accounts | - | 56,000 |
| Accrued expenses |