Registered number
13559618
Lacus Logistics UK Ltd
Filleted Accounts
31 March 2023
Lacus Logistics UK Ltd
Registered number: 13559618
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 44,165 27,547
Current assets
Debtors 4 189,159 125,299
Cash at bank and in hand 44,845 18,364
234,004 143,663
Creditors: amounts falling due within one year 5 (195,054) (124,904)
Net current assets 38,950 18,759
Total assets less current liabilities 83,115 46,306
Creditors: amounts falling due after more than one year 6 (17,197) (19,719)
Net assets 65,918 26,587
Capital and reserves
Called up share capital 2 2
Profit and loss account 65,916 26,585
Shareholders' funds 65,918 26,587
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 members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
N R Hughes
Director
Approved by the board on 8 November 2023
Lacus Logistics UK Ltd
Notes to the Accounts
for the period from 1 September 2022 to 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.
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:
Improvements not depreciated
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 2,265 374 33,336 35,975
Additions - 590 29,995 30,585
At 31 March 2023 2,265 964 63,331 66,560
Depreciation
At 1 September 2022 - 94 8,334 8,428
Charge for the period - 218 13,749 13,967
At 31 March 2023 - 312 22,083 22,395
Net book value
At 31 March 2023 2,265 652 41,248 44,165
At 31 August 2022 2,265 280 25,002 27,547
4 Debtors 2023 2022
£ £
Trade debtors 186,530 123,475
Other debtors 2,629 1,824
189,159 125,299
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 6,456 6,456
Trade creditors 53,201 47,589
Taxation and social security costs 82,410 36,776
Accruals 769 713
Directors loan account 52,218 27,370
Other creditors - 6,000
195,054 124,904
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 17,197 19,719
7 Related party transactions
During the period the company paid consultancy fees to Catering Spares Solutions, a business owned by the director of £10,500 (2022: £6,000).
8 Controlling party
The company is controlled by the director who owns 50% of the issued shared capital.
9 Other information
Lacus Logistics UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Napoleon Drive
Redwood Park
Shrewsbury
Shropshire
SY3 5PH
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