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REGISTERED NUMBER: 11225746 (England and Wales)










Looksee Limited

Financial Statements

for the Year Ended 31 July 2023






Looksee Limited (Registered number: 11225746)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Looksee Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mrs K K Toor
M S Toor





REGISTERED OFFICE: The Oval, 57 New Walk
Leicester
Leicestershire
LE1 7EA





REGISTERED NUMBER: 11225746 (England and Wales)






Looksee Limited (Registered number: 11225746)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 15,529 12,427

Current assets
Stocks 24,785 22,342
Debtors 5 143,684 15,021
Cash at bank 388,405 615,733
556,874 653,096
Creditors
Amounts falling due within one year 6 156,041 138,483
Net current assets 400,833 514,613
Total assets less current liabilities 416,362 527,040

Capital and reserves
Called up share capital 100 100
Retained earnings 416,262 526,940
416,362 527,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 March 2024 and were signed on its behalf by:





M S Toor - Director


Looksee Limited (Registered number: 11225746)

Notes to the Financial Statements
for the Year Ended 31 July 2023


1. Statutory information

Looksee Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

No provision has been made in these accounts for Deferred tax as the amount is immaterial.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Looksee Limited (Registered number: 11225746)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 12 (2022 - 4 ) .

4. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 August 2022 7,426 3,706 5,598 16,730
Additions 6,745 389 1,554 8,688
At 31 July 2023 14,171 4,095 7,152 25,418
Depreciation
At 1 August 2022 1,553 287 2,463 4,303
Charge for year 2,523 854 2,209 5,586
At 31 July 2023 4,076 1,141 4,672 9,889
Net book value
At 31 July 2023 10,095 2,954 2,480 15,529
At 31 July 2022 5,873 3,419 3,135 12,427

5. Debtors: amounts falling due within one year
31.7.23 31.7.22
£    £   
Trade debtors 11,992 12,063
Other debtors 131,692 2,958
143,684 15,021

6. Creditors: amounts falling due within one year
31.7.23 31.7.22
£    £   
Trade creditors 128,710 25,612
Taxation and social security 20,609 96,561
Other creditors 6,722 16,310
156,041 138,483

Looksee Limited (Registered number: 11225746)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


7. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Mrs K Kaur
Balance outstanding at start of year (8,744 ) 15,619
Amounts advanced 108,633 10,637
Amounts repaid - (35,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 99,889 (8,744 )

No provision has been made for tax on overdrwan loan as this was fully repaid by 30 January 2024.

8. Related party disclosures

Dividends paid during the year amounted to £71,500 (2022-£Nil)

9. Ultimate controlling party

The ultimate controlling party is M S Toor.