Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1192022-03-01falseHair design and research of new hair products123falsetrue 03383832 2022-03-01 2023-02-28 03383832 2021-03-01 2022-02-28 03383832 2023-02-28 03383832 2022-02-28 03383832 2021-03-01 03383832 c:Director1 2022-03-01 2023-02-28 03383832 d:Buildings 2022-03-01 2023-02-28 03383832 d:Buildings 2023-02-28 03383832 d:Buildings 2022-02-28 03383832 d:Buildings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03383832 d:FurnitureFittings 2022-03-01 2023-02-28 03383832 d:FurnitureFittings 2023-02-28 03383832 d:FurnitureFittings 2022-02-28 03383832 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03383832 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 03383832 d:CurrentFinancialInstruments 2023-02-28 03383832 d:CurrentFinancialInstruments 2022-02-28 03383832 d:Non-currentFinancialInstruments 2023-02-28 03383832 d:Non-currentFinancialInstruments 2022-02-28 03383832 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 03383832 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 03383832 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 03383832 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 03383832 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 03383832 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 03383832 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 03383832 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 03383832 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 03383832 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-02-28 03383832 d:ShareCapital 2023-02-28 03383832 d:ShareCapital 2022-02-28 03383832 d:ShareCapital 2021-03-01 03383832 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 03383832 d:RetainedEarningsAccumulatedLosses 2023-02-28 03383832 d:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 03383832 d:RetainedEarningsAccumulatedLosses 2022-02-28 03383832 d:RetainedEarningsAccumulatedLosses 2021-03-01 03383832 c:FRS102 2022-03-01 2023-02-28 03383832 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 03383832 c:FullAccounts 2022-03-01 2023-02-28 03383832 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 03383832 d:WithinOneYear 2023-02-28 03383832 d:WithinOneYear 2022-02-28 03383832 d:BetweenOneFiveYears 2023-02-28 03383832 d:BetweenOneFiveYears 2022-02-28 03383832 d:MoreThanFiveYears 2023-02-28 03383832 d:MoreThanFiveYears 2022-02-28 03383832 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 03383832










LUCINDA ELLERY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
LUCINDA ELLERY LTD
REGISTERED NUMBER: 03383832

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,853,092
1,742,854

  
1,853,092
1,742,854

Current assets
  

Stocks
 5 
40,000
40,000

Debtors
 6 
1,484,020
1,514,552

Cash at bank and in hand
  
533,475
1,306,381

  
2,057,495
2,860,933

Creditors: amounts falling due within one year
 7 
(2,476,276)
(1,760,150)

Net current (liabilities)/assets
  
 
 
(418,781)
 
 
1,100,783

Total assets less current liabilities
  
1,434,311
2,843,637

Creditors: amounts falling due after more than one year
 8 
(538,481)
(1,064,287)

  

Net assets
  
895,830
1,779,350


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
894,830
1,778,350

  
895,830
1,779,350


Page 1

 
LUCINDA ELLERY LTD
REGISTERED NUMBER: 03383832
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 November 2023.




M S A Dabadie
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
LUCINDA ELLERY LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 March 2021
1,000
1,077,846
1,078,846


Comprehensive income for the year

Profit for the year
-
1,843,524
1,843,524

Dividends: Equity capital
-
(1,143,020)
(1,143,020)



At 1 March 2022
1,000
1,778,350
1,779,350



Profit for the year
-
558,203
558,203

Dividends: Equity capital
-
(1,441,723)
(1,441,723)


At 28 February 2023
1,000
894,830
895,830


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
LUCINDA ELLERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Lucinda Ellery Ltd is a private company limited by shares and incorporated in England and Wales. The registered office address is 312 King Street, Hammersmith, London, W6 0RR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
LUCINDA ELLERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
LUCINDA ELLERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight line
Fixtures and fittings
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
LUCINDA ELLERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.14

Creditors

Short-term creditors are measured at the transaction price.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Page 7

 
LUCINDA ELLERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)


Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 123 (2022 - 119).

Page 8

 
LUCINDA ELLERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost


At 1 March 2022
2,048,679
398,441
2,447,120


Additions
108,993
32,553
141,546



At 28 February 2023

2,157,672
430,994
2,588,666



Depreciation


At 1 March 2022
318,667
385,599
704,266


Charge for the year on owned assets
23,550
7,758
31,308



At 28 February 2023

342,217
393,357
735,574



Net book value



At 28 February 2023
1,815,455
37,637
1,853,092



At 28 February 2022
1,730,012
12,842
1,742,854

Included in freehold property is land valued by the directors at £980,170 (2022: £980,170) which is not depreciated.


5.


Stocks

2023
2022
£
£

Raw materials and consumables
40,000
40,000

40,000
40,000


Page 9

 
LUCINDA ELLERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
338,097
295,234

338,097
295,234

Due within one year

Trade debtors
443,474
444,614

Other debtors
685,086
760,008

Prepayments and accrued income
17,363
14,696

1,484,020
1,514,552



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
129

Bank loans
517,232
278,454

Trade creditors
466,371
238,173

Corporation tax
571,566
515,824

Other taxation and social security
65,687
62,943

Other creditors
813,598
636,425

Accruals and deferred income
41,822
28,202

2,476,276
1,760,150



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
538,481
1,031,287

Other creditors
-
33,000

538,481
1,064,287


Secured Loans:
Bank loans are secured by a legal charge over the company's freehold property.

Page 10

 
LUCINDA ELLERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
517,232
278,454

Amounts falling due 1-2 years

Bank loans
250,518
308,690

Amounts falling due 2-5 years

Bank loans
287,963
700,421

Amounts falling due after more than 5 years

Bank loans
-
22,176

1,055,713
1,309,741



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £49,600 (2022 - £48,616). Contributions totalling £9,695 (2022 - £10,154) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

At 28 February 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
104,500
104,500

Later than 1 year and not later than 5 years
266,779
311,279

Later than 5 years
53,333
113,333

424,612
529,112

Page 11

 
LUCINDA ELLERY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

12.


Transactions with directors

M Dabadie, a director, has provided a personal guarantee of £200,000 (2022 - £200,000) in relation to the company's bank loans.
Included within other debtors is an amount of £566,580 (2022 - £416,718) owed by a connected partnership.

 
Page 12