2022-09-012023-08-312023-08-31false12806677ROLLS-LUCAS 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ROLLS-LUCAS LIMITED

Registered Number
12806677
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

ROLLS-LUCAS LIMITED
Company Information
for the year from 1 September 2022 to 31 August 2023

Director

LI, Yingxin

Registered Address

35 Pond Street
London
NW3 2PN

Registered Number

12806677 (England and Wales)
ROLLS-LUCAS LIMITED
Statement of Financial Position
31 August 2023

Notes

2023

2022

£

£

£

£

Current assets
Stocks310,027-
Debtors428,545-
Cash at bank and on hand1,2682,000
39,8402,000
Creditors amounts falling due within one year5(221,384)(1,130)
Net current assets (liabilities)(181,544)870
Total assets less current liabilities(181,544)870
Net assets(181,544)870
Capital and reserves
Called up share capital1,0001,000
Profit and loss account(182,544)(130)
Shareholders' funds(181,544)870
The financial statements were approved and authorised for issue by the Director on 29 August 2024, and are signed on its behalf by:
LI, Yingxin
Director
Registered Company No. 12806677
ROLLS-LUCAS LIMITED
Notes to the Financial Statements
for the year ended 31 August 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A, as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.
2.Average number of employees

20232022
Average number of employees during the year10
3.Stocks

2023

2022

££
Other stocks10,027-
Total10,027-
4.Debtors: amounts due within one year

2023

2022

££
Other debtors28,545-
Total28,545-
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables123,709-
Amounts owed to related parties52,0001,000
Other creditors38,542-
Accrued liabilities and deferred income7,133130
Total221,3841,130
6.Creditors: amounts due after one year