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Registered Number: SC754439
Scotland

 

 

 

LOCASTA LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 05 January 2023

End date: 31 January 2024
DirectorIslam Uddin
Registered NumberSC754439
Registered Office41A Montrose Avenue
Auldearn
Nairn
Highland
IV12 5TT
AccountantsShaun Hendry Accountancy Ltd
41A Montrose Avenue
Auldearn
Nairn
Highland
IV12 5TT
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 January 2024.
Principal activities
Principal activity of the company during the financial period was of operation of a takeaway restaurant.
Director
The director who served the company throughout the period was as follows:
Islam Uddin
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Islam Uddin
Director

Date approved: 12 February 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of Locasta Ltd for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Locasta Ltd for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Locasta Ltd, as a body, in accordance with the terms of our engagement letter dated 12 February 2024 Our work has been undertaken solely to prepare for your approval the accounts of Locasta Ltd and state those matters that we have agreed to state to the Board of Directors of Locasta Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Locasta Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Locasta Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Locasta Ltd. You consider that Locasta Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Locasta Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 January 2024



....................................................
Shaun Hendry Accountancy Ltd
41A Montrose Avenue
Auldearn
Nairn
Highland
IV12 5TT
12 February 2024
3
 
 
Notes
 
2024
£
Turnover355,753 
Cost of sales(137,799)
Gross profit217,954 
Selling and distribution costs(28,478)
Administrative expenses(160,277)
Operating profit29,199 
Profit/(Loss) on ordinary activities before taxation29,199 
Tax on profit on ordinary activities(4,970)
Profit/(Loss) for the financial period24,229 
 
4
 
 
Notes
 
2024
£
Current assets  
Stocks34,475 
Debtors418,567 
Cash at bank and in hand21,837 
44,879 
Creditors: amount falling due within one year5(20,550)
Net current assets24,329 
 
Total assets less current liabilities24,329 
Net assets24,329 
 

Capital and reserves
  
Called up share capital6100 
Profit and loss account24,229 
Shareholder's funds24,329 
 


For the period ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 12 February 2024 and were signed by:


-------------------------------
Islam Uddin
Director
5
 Equity share capital Revaluation reserve Capital redemption reserve Retained Earnings Total
££££ £
At 05 January 2023
Profit for the period24,229 24,229 
Total comprehensive income for the period24,229 24,229 
Shares issued100 100 
Total investments by and distributions to owners100 100 
At 31 January 2024100 24,229 24,329 
6
General Information
Locasta Ltd is a private company, limited by shares, registered in Scotland, registration number SC754439, registration address 41A Montrose Avenue, Auldearn, Nairn, Highland, IV12 5TT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 7.
Average number of employees during the period was 7.
3.

Stocks

2024
£
Stocks4,475 
4,475 

4.

Debtors: amounts falling due within one year

2024
£
Deposits paid17,760 
Directors' Current Accounts807 
18,567 

5.

Creditors: amount falling due within one year

2024
£
Trade Creditors8,641 
Corporation Tax4,970 
PAYE & Social Security4,040 
Accrued Expenses2,900 
Other Creditors(1)
20,550 

6.

Share Capital

Allotted, called up and fully paid
2024
£
100 Class A shares of £1.00 each100 
100 

7