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Registration number: 8149278

James Luckhurst Associates Ltd

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 July 2023

 

James Luckhurst Associates Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

James Luckhurst Associates Ltd

Company Information

Directors

Mrs A R Luckhurst

Mr S T J Luckhurst

Company secretary

Mrs A R Luckhurst

Registered office

The Threshing Barn
Boughrood
Brecon
Powys
LD3 0YG
 

Bankers

Lloyds Bank Plc
Reading Branch
PO Box 1000
Andover
BX1 1LT
 

Accountants

WJ James & Co
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

James Luckhurst Associates Ltd

(Registration number: 8149278)

Balance Sheet
as at 31 July 2023

Note

2023
£

2022
£

Tangible assets

4

8,211

7,680

Current assets

 

Debtors

5

23,517

18,764

Cash at bank and in hand

 

33,370

29,991

 

56,887

48,755

Creditors: Amounts falling due within one year

6

(37,579)

(30,837)

Net current assets

 

19,308

17,918

Net assets

 

27,519

25,598

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

27,517

25,596

Total equity

 

27,519

25,598

For the financial year ending 31 July 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.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 20 October 2023 and signed on its behalf by:
 

.........................................

Mr S T J Luckhurst

Director

 

James Luckhurst Associates Ltd

Notes to the Financial Statements
for the Year Ended 31 July 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:
The Threshing Barn
Boughrood
Brecon
Powys
LD3 0YG

These financial statements were authorised for issue by the Board on 20 October 2023.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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 in the countries where the company operates and generates taxable income.

 

James Luckhurst Associates Ltd

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

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Computer equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

James Luckhurst Associates Ltd

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

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 3 (2022 - 3).

 

James Luckhurst Associates Ltd

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

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

2,718

17,993

20,711

Additions

-

3,551

3,551

At 31 July 2023

2,718

21,544

24,262

Depreciation

At 1 August 2022

228

12,803

13,031

Charge for the year

498

2,522

3,020

At 31 July 2023

726

15,325

16,051

Carrying amount

At 31 July 2023

1,992

6,219

8,211

At 31 July 2022

2,490

5,190

7,680

5

Debtors

2023
£

2022
£

Trade debtors

13,780

9,072

Other debtors

9,737

9,692

23,517

18,764

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

-

1,200

Trade creditors

 

320

-

Taxation and social security

 

7,840

8,562

Accruals and deferred income

 

2,338

2,195

Other creditors

 

27,081

18,880

 

37,579

30,837

 

James Luckhurst Associates Ltd

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

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

-

1,200