Company Registration No. 12271101 (England and Wales)
LUNA DEVELOPMENTS (RED) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2022
PAGES FOR FILING WITH REGISTRAR
LUNA DEVELOPMENTS (RED) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
LUNA DEVELOPMENTS (RED) LIMITED
BALANCE SHEET
AS AT
30 OCTOBER 2022
30 October 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,705
6,273
Current assets
Stocks
384,490
10,792
Debtors
5
63,308
54,343
Cash at bank and in hand
2,964
19,325
450,762
84,460
Creditors: amounts falling due within one year
6
(8,290)
(2,943)
Net current assets
442,472
81,517
Total assets less current liabilities
447,177
87,790
Creditors: amounts falling due after more than one year
7
(456,865)
(93,109)
Net liabilities
(9,688)
(5,319)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(9,788)
(5,419)
Total equity
(9,688)
(5,319)
Company Registration No. 12271101
LUNA DEVELOPMENTS (RED) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 OCTOBER 2022
30 October 2022
- 2 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 20 October 2023
Mr A J Nuttall
Director
Company Registration No. 12271101
LUNA DEVELOPMENTS (RED) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 OCTOBER 2022
30 October 2022
- 3 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2
Accounting policies
Company information
Luna Developments (Red) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 48 King Street, King's Lynn, Norfolk, England, PE30 1HE. The business address is Hilfoot Manor, The Street, Marham, King's Lynn, Norfolk, PE33 9JP.
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
2.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
25% Reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
LUNA DEVELOPMENTS (RED) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2022
2
Accounting policies
(Continued)
- 4 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 October 2021 and 30 October 2022
7,200
Depreciation and impairment
At 31 October 2021
927
Depreciation charged in the year
1,568
At 30 October 2022
2,495
Carrying amount
At 30 October 2022
4,705
At 30 October 2021
6,273
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
62,245
45,250
Other debtors
1,063
9,093
63,308
54,343
LUNA DEVELOPMENTS (RED) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2022
- 5 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
5,556
1,389
Trade creditors
1,734
954
Other creditors
1,000
600
8,290
2,943
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
47,529
44,498
Other creditors
409,336
48,611
456,865
93,109
Creditors which fall due after five years are as follows:
2022
2021
£
£
Payable by instalments
20,833
26,389