David & Lucie Limited
Unaudited Financial Statements
For the year ended 31 August 2022
Pages for Filing with Registrar
Company Registration No. 08397799 (England and Wales)
David & Lucie Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
David & Lucie Limited
Balance Sheet
As at 31 August 2022
Page 1
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
325,845
234,483
Cash at bank and in hand
6,408
87,421
332,253
321,904
Creditors: amounts falling due within one year
4
(238,033)
(180,158)
Net current assets
94,220
141,746
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
94,120
141,646
Total equity
94,220
141,746
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 1 July 2024
D Creuzot
Director
Company Registration No. 08397799
David & Lucie Limited
Notes to the Financial Statements
For the year ended 31 August 2022
Page 2
1
Accounting policies
Company information
David & Lucie Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Reporting period
1.4
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.5
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.7
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
David & Lucie Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2022
1
Accounting policies
(Continued)
Page 3
1.8
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
325,845
234,483
4
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
218,283
162,698
Accruals and deferred income
19,750
17,460
238,033
180,158
David & Lucie Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2022
Page 4
5
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
There are full voting rights associated with each share.
6
Related party transactions
During the year, the aggregate dividends declared were £200,000 (2021: £200,000). At year end, a balance of £240,005 was due from the director (2021: £171,697).
During the year, David & Lucie Limited made sales worth £387,730 (2021: £445,441) to Konbini UK Limited, of which, David Creuzot is also a director of the company.
7
Control
There is no ultimate controlling party.