Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31falsetrue2022-04-01No description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11306734 2022-04-01 2023-03-31 11306734 2021-04-01 2022-03-31 11306734 2023-03-31 11306734 2022-03-31 11306734 c:Director1 2022-04-01 2023-03-31 11306734 d:PlantMachinery 2022-04-01 2023-03-31 11306734 d:PlantMachinery 2023-03-31 11306734 d:PlantMachinery 2022-03-31 11306734 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11306734 d:OfficeEquipment 2022-04-01 2023-03-31 11306734 d:OfficeEquipment 2023-03-31 11306734 d:OfficeEquipment 2022-03-31 11306734 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11306734 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11306734 d:CurrentFinancialInstruments 2023-03-31 11306734 d:CurrentFinancialInstruments 2022-03-31 11306734 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11306734 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11306734 d:ShareCapital 2023-03-31 11306734 d:ShareCapital 2022-03-31 11306734 d:RetainedEarningsAccumulatedLosses 2023-03-31 11306734 d:RetainedEarningsAccumulatedLosses 2022-03-31 11306734 c:FRS102 2022-04-01 2023-03-31 11306734 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11306734 c:FullAccounts 2022-04-01 2023-03-31 11306734 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11306734 2 2022-04-01 2023-03-31 11306734 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 11306734









LUROSS VENTURES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
LUROSS VENTURES LIMITED
REGISTERED NUMBER: 11306734

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,448
8,760

Investments
 5 
376,052
143,518

  
382,500
152,278

Current assets
  

Debtors: amounts falling due within one year
 6 
5,989,507
2,212,271

Cash at bank and in hand
  
957,777
143,975

  
6,947,284
2,356,246

Creditors: amounts falling due within one year
 7 
(5,370,885)
(905,412)

Net current assets
  
 
 
1,576,399
 
 
1,450,834

Total assets less current liabilities
  
1,958,899
1,603,112

  

Net assets
  
1,958,899
1,603,112


Capital and reserves
  

Called up share capital 
  
101
101

Profit and loss account
  
1,958,798
1,603,011

  
1,958,899
1,603,112


Page 1

 
LUROSS VENTURES LIMITED
REGISTERED NUMBER: 11306734
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 statement of comprehensive income 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 by: 




N Berger
Director

Date: 20 February 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LUROSS VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Luross Ventures Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company.

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.

 
2.2

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:

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.

 
2.3

Interest income

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

 
2.4

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 3

 
LUROSS VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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:

Plant and machinery
-
20%
Office equipment
-
25%

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 4

 
LUROSS VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

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 2 (2022 - 2).

Page 5

 
LUROSS VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
2,180
10,330
12,510


Additions
-
940
940



At 31 March 2023

2,180
11,270
13,450



Depreciation


At 1 April 2022
692
3,057
3,749


Charge for the year on owned assets
436
2,817
3,253



At 31 March 2023

1,128
5,874
7,002



Net book value



At 31 March 2023
1,052
5,396
6,448



At 31 March 2022
1,488
7,272
8,760


5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 April 2022
143,518


Additions
282,302


Amounts repaid/written off
(49,768)



At 31 March 2023
376,052




Page 6

 
LUROSS VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
37,800
44,400

Other debtors
5,951,707
2,167,871

5,989,507
2,212,271



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
123,541
185,779

Other taxation and social security
4,052
7,199

Other creditors
5,240,542
709,684

Accruals and deferred income
2,750
2,750

5,370,885
905,412



8.


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 £80,000 (2022: £80,000).

 
Page 7