Lucky Skyline Ltd 13558900 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is that of take-away food shops and mobile food stands. Digita Accounts Production Advanced 6.30.9574.0 true 13558900 2022-09-01 2023-08-31 13558900 2023-08-31 13558900 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 13558900 bus:SmallEntities 2022-09-01 2023-08-31 13558900 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 13558900 bus:AbridgedAccounts 2022-09-01 2023-08-31 13558900 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 13558900 bus:RegisteredOffice 2022-09-01 2023-08-31 13558900 bus:Director1 2022-09-01 2023-08-31 13558900 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 13558900 countries:EnglandWales 2022-09-01 2023-08-31 13558900 2021-08-10 2022-08-31 13558900 2022-08-31 13558900 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 13558900

Lucky Skyline Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2023

 

Lucky Skyline Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Lucky Skyline Ltd

Company Information

Director

Mr F S Len

Registered office

1st Floor
44 Worship Street
London
EC2A 2EA

Accountants

Tan Lam Partnership
Chartered Certified Accountants
1st Floor, 44 Worship Street
London
EC2A 2EA

 

Lucky Skyline Ltd

(Registration number: 13558900)
Abridged Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Current assets

 

Stocks

950

800

Cash at bank and in hand

 

4,546

9,864

 

5,496

10,664

Prepayments and accrued income

 

5,114

165

Creditors: Amounts falling due within one year

(19,823)

(10,839)

Total assets less current liabilities

 

(9,213)

(10)

Accruals and deferred income

 

(2,252)

(1,961)

Net liabilities

 

(11,465)

(1,971)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

(11,475)

(1,981)

Shareholders' deficit

 

(11,465)

(1,971)

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

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 15 March 2024
 

.........................................
Mr F S Len
Director

 

Lucky Skyline Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 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:
1st Floor
44 Worship Street
London
EC2A 2EA

These financial statements were authorised for issue by the director on 15 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 abridged 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 abridged 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.

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.

 

Lucky Skyline Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

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.

 

Lucky Skyline Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 3).