Silverfin false 31/03/2023 01/04/2022 31/03/2023 Amy Buchan 11/09/2012 Mark Buchan 12/12/2008 23 October 2023 The principal activity of the Company during the financial year continued to be that of the provision of share fishermen services. SC352473 2023-03-31 SC352473 bus:Director1 2023-03-31 SC352473 bus:Director2 2023-03-31 SC352473 2022-03-31 SC352473 core:CurrentFinancialInstruments 2023-03-31 SC352473 core:CurrentFinancialInstruments 2022-03-31 SC352473 core:ShareCapital 2023-03-31 SC352473 core:ShareCapital 2022-03-31 SC352473 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC352473 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC352473 core:Vehicles 2022-03-31 SC352473 core:Vehicles 2023-03-31 SC352473 bus:OrdinaryShareClass1 2023-03-31 SC352473 2022-04-01 2023-03-31 SC352473 bus:FullAccounts 2022-04-01 2023-03-31 SC352473 bus:SmallEntities 2022-04-01 2023-03-31 SC352473 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC352473 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC352473 bus:Director1 2022-04-01 2023-03-31 SC352473 bus:Director2 2022-04-01 2023-03-31 SC352473 core:Vehicles core:TopRangeValue 2022-04-01 2023-03-31 SC352473 2021-04-01 2022-03-31 SC352473 core:Vehicles 2022-04-01 2023-03-31 SC352473 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC352473 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC352473 (Scotland)

LUSTRE ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

LUSTRE ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

LUSTRE ENTERPRISES LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
LUSTRE ENTERPRISES LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,440 4,320
1,440 4,320
Current assets
Debtors 4 393,725 376,744
Cash at bank and in hand 94,258 139,747
487,983 516,491
Creditors: amounts falling due within one year 5 ( 106,792) ( 113,380)
Net current assets 381,191 403,111
Total assets less current liabilities 382,631 407,431
Provision for liabilities ( 360) ( 821)
Net assets 382,271 406,610
Capital and reserves
Called-up share capital 6 20 20
Profit and loss account 382,251 406,590
Total shareholders' funds 382,271 406,610

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Lustre Enterprises Limited (registered number: SC352473) were approved and authorised for issue by the Director on 23 October 2023. They were signed on its behalf by:

Mark Buchan
Director
LUSTRE ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
LUSTRE ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lustre Enterprises Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 5 Albyn Terrace, Aberdeen, AB10 1YP, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for the provision of labour services and is recognised when the service is provided during the year.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and bank balances, measured at transaction price.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 April 2022 11,520 11,520
At 31 March 2023 11,520 11,520
Accumulated depreciation
At 01 April 2022 7,200 7,200
Charge for the financial year 2,880 2,880
At 31 March 2023 10,080 10,080
Net book value
At 31 March 2023 1,440 1,440
At 31 March 2022 4,320 4,320

4. Debtors

2023 2022
£ £
Trade debtors 246,675 226,453
Corporation tax 30,133 30,549
Other debtors 116,917 119,742
393,725 376,744

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 3,210
Corporation tax 103,594 107,571
Other creditors 3,198 2,599
106,792 113,380

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
20 Ordinary shares of £ 1.00 each 20 20

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts due from directors 116,917 119,742

This loan is interest free.