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Registration number: 12345348

Lucky North Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 31 December 2023

 

Lucky North Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Lucky North Ltd

(Registration number: 12345348)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

5,900

 

4,793

Current assets

   

 

Debtors

5

97,672

 

70,389

 

Cash at bank and in hand

 

80,837

 

128,532

 

 

178,509

 

198,921

 

Creditors: Amounts falling due within one year

6

(45,119)

 

(61,625)

 

Net current assets

   

133,390

 

137,296

Total assets less current liabilities

   

139,290

 

142,089

Provisions for liabilities

 

(1,475)

 

-

Net assets

   

137,815

 

142,089

Capital and reserves

   

 

Called up share capital

7

200

 

200

 

Share premium reserve

29,960

 

29,960

 

Profit and loss account

107,655

 

111,929

 

Total equity

   

137,815

 

142,089

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 March 2024 and signed on its behalf by:
 

.........................................
Ms L. Baird
Director

 

Lucky North Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Floor 3
46 Park Place
Leeds
LS1 2RY

These financial statements were authorised for issue by the Board on 28 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Lucky North Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on cost.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 5).

 

Lucky North Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

7,543

7,543

Additions

3,992

3,992

Disposals

(1,023)

(1,023)

At 31 December 2023

10,512

10,512

Depreciation

At 1 January 2023

2,750

2,750

Charge for the year

2,627

2,627

Eliminated on disposal

(765)

(765)

At 31 December 2023

4,612

4,612

Carrying amount

At 31 December 2023

5,900

5,900

At 31 December 2022

4,793

4,793

5

Debtors

Debtors: amounts falling due within one year

2023
£

2022
£

Trade debtors

82,720

63,137

Prepayments

1,382

7,252

Other debtors

13,570

-

 

97,672

70,389

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

7,538

10,315

Taxation and social security

33,521

44,277

Other creditors

4,060

7,033

45,119

61,625

 

Lucky North Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

A Ordinary Shares of £1 each

80

80

80

80

B Ordinary Shares of £1 each

80

80

80

80

C Ordinary Shares of £1 each

40

40

40

40

 

200

200

200

200