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Austin Luce & Co. Ltd
Registered Number:01260902
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2024
Austin Luce & Co. Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
01260902
As at 31 May 2024
Austin Luce & Co. Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
17,700
20,650
2
Property, plant and equipment
534
711
3
18,234
21,361
Current assets
Inventories
98,803
59,673
4
Trade and other receivables
12,297
24,663
5
9,536
Cash and cash equivalents
11,376
95,712
120,636
Trade and other payables: amounts falling due within one year
(70,802)
(57,376)
6
49,834
38,336
Net current assets
Total assets less current liabilities
56,570
71,195
Trade and other payables: amounts falling due after more than one
year
(17,152)
(795)
7
55,775
Net assets
54,043
Capital and reserves
Called up share capital
2,000
2,000
Share premium account
4,453
4,453
Retained earnings
49,322
47,590
55,775
54,043
Shareholders' funds
For the year ended 31 May 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
01260902
For the year ended 31 May 2024
Austin Luce & Co. Ltd
Statement of Financial Position Continued
Kim Bull Director
These financial statements were approved and authorised for issue by the Board on 11 September 2024 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 May 2024
Austin Luce & Co. Ltd
Notes to the Financial Statements
Statutory Information
Austin Luce & Co. Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
01260902.
Registered address:
Elm Trees
Dowlands Lane
Crawley
West Sussex
RH10 3HX
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial
statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Reducing balance
Computer equipment
2. Intangible fixed assets
Intellectual
Property
Cost or valuation
£
At 01 June 2023
29,500
At 31 May 2024
29,500
Amortisation
At 01 June 2023
8,850
2,950
Charge for year
At 31 May 2024
11,800
Net book value
At 31 May 2024
17,700
At 31 May 2023
20,650
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6
For the year ended 31 May 2024
Austin Luce & Co. Ltd
Notes to the Financial Statements Continued
3. Property, plant and equipment
Computer
equipment
£
Cost or valuation
At 01 June 2023
3,216
At 31 May 2024
3,216
Provision for depreciation and impairment
At 01 June 2023
2,505
Charge for year
177
At 31 May 2024
2,682
At 31 May 2024
Net book value
534
At 31 May 2023
711
4. Inventories
2023
2024
£
£
Stocks
59,673
98,803
5. Trade and other receivables
2023
2024
£
£
Trade debtors
23,386
11,123
Other debtors
1,277
1,174
12,297
24,663
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
18,402
25,591
Taxation and social security
33,521
29,567
Other creditors
5,453
15,644
57,376
70,802
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7
For the year ended 31 May 2024
Austin Luce & Co. Ltd
Notes to the Financial Statements Continued
7. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Other creditors
795
17,152
8. Average number of persons employed
During the year the average number of employees was 0 (2023 : 1)
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