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REGISTERED NUMBER: 07904002 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

LOST AND FOUND CREATIVE LTD

LOST AND FOUND CREATIVE LTD (REGISTERED NUMBER: 07904002)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOST AND FOUND CREATIVE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: A J Hussey





REGISTERED OFFICE: Smith House
George Street
Nailsworth
Stroud
Gloucestershire
GL6 0AG





REGISTERED NUMBER: 07904002 (England and Wales)





ACCOUNTANTS: Shiner Mitchell Fisher & Co Ltd
Smith House
George Street
Nailsworth
Stroud
Gloucestershire
GL6 0AG

LOST AND FOUND CREATIVE LTD (REGISTERED NUMBER: 07904002)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,058 40,705

CURRENT ASSETS
Debtors 5 7,044 9,091
Cash at bank 1,703 2,001
8,747 11,092
CREDITORS
Amounts falling due within one year 6 15,422 19,704
NET CURRENT LIABILITIES (6,675 ) (8,612 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,383

32,093

CREDITORS
Amounts falling due after more than one
year

7

25,090

29,766
NET ASSETS 293 2,327

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 290 2,324
SHAREHOLDERS' FUNDS 293 2,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LOST AND FOUND CREATIVE LTD (REGISTERED NUMBER: 07904002)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 25 September 2024 and were signed by:





A J Hussey - Director


LOST AND FOUND CREATIVE LTD (REGISTERED NUMBER: 07904002)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Lost and Found Creative Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance and 20% on reducing balance

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

LOST AND FOUND CREATIVE LTD (REGISTERED NUMBER: 07904002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 48,909
DEPRECIATION
At 1 April 2023 8,204
Charge for year 8,647
At 31 March 2024 16,851
NET BOOK VALUE
At 31 March 2024 32,058
At 31 March 2023 40,705

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 43,100
DEPRECIATION
At 1 April 2023 3,592
Charge for year 7,901
At 31 March 2024 11,493
NET BOOK VALUE
At 31 March 2024 31,607
At 31 March 2023 39,508

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,395 6,442
Other debtors 2,649 2,649
7,044 9,091

LOST AND FOUND CREATIVE LTD (REGISTERED NUMBER: 07904002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 1,008 1,008
Hire purchase contracts 5,127 5,127
Trade creditors 4,745 714
Taxation and social security 3,384 5,903
Other creditors 1,158 6,952
15,422 19,704

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,325 2,325
Hire purchase contracts 23,765 27,441
25,090 29,766

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £9,000 (2023 - £16,000) were paid to the director .

During the period the director, Mr A J Hussey, made an unsecured interest free loan to the company. The balance owing to Mr Hussey at 31 March 2024 was £4 (2023- £6,252).

9. ULTIMATE CONTROLLING PARTY

The controlling party is A J Hussey.