Registered number
06252741
Lutzy's Limited
Unaudited Filleted Accounts
31 March 2022
Lutzy's Limited
Registered number: 06252741
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 8,210 9,571
8,211 9,572
Current assets
Stocks 764 756
Debtors 5 49 740
Cash at bank and in hand 45,764 58,383
Deposit account 50,072 48,564
Petty cash 50 50
96,699 108,493
Creditors: amounts falling due within one year 6 (20,493) (37,052)
Net current assets 76,206 71,441
Total assets less current liabilities 84,417 81,013
Provisions for liabilities (1,479) (1,720)
Net assets 82,938 79,293
Capital and reserves
Called up share capital 100 100
Profit and loss account 82,838 79,193
Shareholder's funds 82,938 79,293
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms. M. L. Carvahlo Dias
Director
Approved by the board on 15 August 2022
Lutzy's Limited
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
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 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Fixtures, fittings, tools and equipment 25% reducing value
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 5 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2021 64,999
At 31 March 2022 64,999
Amortisation
At 1 April 2021 64,998
At 31 March 2022 64,998
Net book value
At 31 March 2022 1
At 31 March 2021 1
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2021 3,733 46,305 50,038
Additions - 1,375 1,375
At 31 March 2022 3,733 47,680 51,413
Depreciation
At 1 April 2021 3,732 36,735 40,467
Charge for the year - 2,736 2,736
At 31 March 2022 3,732 39,471 43,203
Net book value
At 31 March 2022 1 8,209 8,210
At 31 March 2021 1 9,570 9,571
5 Debtors 2022 2021
£ £
Other debtors 49 740
6 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 4,291 6,114
Directors loan account 662 4,625
Taxation and social security costs 11,287 20,353
Other creditors 4,253 5,960
20,493 37,052
7 Controlling party
The ultimate controlling party is Ms. M. L. Carvahlo Dias who owns the whole of the issued share capital.
8 Other information
Lutzy's Limited is a private company limited by shares and incorporated in England. Its registered office is:
43 Piazza Terracina
Haven Banks
Exeter
Devon
EX2 8GT
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