Registered number
05943242
DE LUCA ASSOCIATES LIMITED
Filleted Accounts
31 March 2023
DE LUCA ASSOCIATES LIMITED
Registered number: 05943242
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Stocks and WIP 689 689
Debtors 4 915 18,426
Cash at bank and in hand 20,489 11,619
22,093 30,734
Creditors: amounts falling due within one year 5 (1,742) (6,925)
Net current assets 20,351 23,809
Total assets less current liabilities 20,351 23,809
Creditors: amounts falling due after more than one year 6 (9,500) (12,500)
Net assets 10,851 11,309
Capital and reserves
Called up share capital 1,000 1,000
Share premium 9,689 9,689
Profit and loss account 162 620
Shareholders' funds 10,851 11,309
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
P. De Luca
Director
Approved by the board on 30 June 2023
DE LUCA ASSOCIATES LIMITED
Notes to the Accounts
for the year ended 31 March 2023
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 20,385
At 31 March 2023 20,385
Amortisation
At 1 April 2022 20,385
At 31 March 2023 20,385
Net book value
At 31 March 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2023 2022
£ £
Other debtors 915 18,426
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation Tax 1,238 6,051
Taxation and social security costs 504 874
1,742 6,925
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 9,500 12,500
7 Other information
DE LUCA ASSOCIATES LIMITED is a private company limited by shares and incorporated in England.
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