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REGISTERED NUMBER: 04519193 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Lucid Direct Limited

Lucid Direct Limited (Registered number: 04519193)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lucid Direct Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Miss J M Gough
R P Lamb





REGISTERED OFFICE: Unit 1b Spinnaker Court
Becketts Wharf
Hampton Wick
Surrey
KT1 4ER





REGISTERED NUMBER: 04519193 (England and Wales)





ACCOUNTANTS: The Hughes Consultancy
1 Golden Court
Richmond
Surrey
TW9 1EU

Lucid Direct Limited (Registered number: 04519193)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,543 286

CURRENT ASSETS
Debtors 5 352,267 220,652
Cash at bank and in hand 35,139 51,712
387,406 272,364
CREDITORS
Amounts falling due within one year 6 339,706 225,826
NET CURRENT ASSETS 47,700 46,538
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,243

46,824

CREDITORS
Amounts falling due after more than one
year

7

49,096

50,625
NET ASSETS/(LIABILITIES) 147 (3,801 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 47 (3,901 )
SHAREHOLDERS' FUNDS 147 (3,801 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Lucid Direct Limited (Registered number: 04519193)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Miss J M Gough - Director


Lucid Direct Limited (Registered number: 04519193)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Lucid Direct Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

Lucid Direct Limited (Registered number: 04519193)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 125,183
Additions 1,771
At 31 December 2023 126,954
DEPRECIATION
At 1 January 2023 124,897
Charge for year 514
At 31 December 2023 125,411
NET BOOK VALUE
At 31 December 2023 1,543
At 31 December 2022 286

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 126,392 40,753
Other debtors 173,585 140,779
Intercompany Loan LSM Ltd 30,000 30,000
Accrued Income 14,225 -
Prepayments 8,065 9,120
352,267 220,652

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 160,928 12,730
Tax 14,722 10,813
Social security and other taxes (1,943 ) 2,757
Pension 6,006 11,175
VAT 4,770 2,914
Other Creditors - Retail CIS 72,628 79,287
Intercompany LDM Ltd - 11,770
Intercompany LRS Ltd 81,610 94,130
Other Creditors - (500 )
Accrued expenses 985 750
339,706 225,826

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
BB Loan 49,096 50,625

Lucid Direct Limited (Registered number: 04519193)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. RELATED PARTY TRANSACTIONS

Included in other creditors is an amount of £81,610 due to Lucid Retail Solutions Limited (2022-
£94,130), a company under common control.

Included in debtors is an amount of £78,059.03 due from Lucid Digital Magazines Limited , a company under common control (2022 - Lucid Digital Magazines Limited was a creditor with a credit balance of 11,770 and an amount of £8,789.30 due from Lucid Sports Management Limited , a company under common control (2022 - £8,789.30).

Included in other debtors is an amount of £30,000 (2022 - £30,000) due from Lucid Sports Management Limited, a company under common control.

Amounts included in other debtors at the year end included overdrawn Director's Loan Accounts of
£173,584.83 (2022: 140,779), on which interest has been charged at market rate. The loan was fully repaid within 9 month of the year end.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary 1 50 50
50 Ordinary 1 50 50
100 100

10. RESERVES
Retained
earnings
£   

At 1 January 2023 (3,901 )
Profit for the year 19,042
Dividends (15,094 )
At 31 December 2023 47