Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 SC478709 Mr Gordon Smeaton Mrs Anna Smeaton Mrs Anna Smeaton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC478709 2023-05-31 SC478709 2024-05-31 SC478709 2023-06-01 2024-05-31 SC478709 frs-core:CurrentFinancialInstruments 2024-05-31 SC478709 frs-core:Non-currentFinancialInstruments 2024-05-31 SC478709 frs-core:FurnitureFittings 2024-05-31 SC478709 frs-core:FurnitureFittings 2023-06-01 2024-05-31 SC478709 frs-core:FurnitureFittings 2023-05-31 SC478709 frs-core:NetGoodwill 2024-05-31 SC478709 frs-core:NetGoodwill 2023-06-01 2024-05-31 SC478709 frs-core:NetGoodwill 2023-05-31 SC478709 frs-core:ShareCapital 2024-05-31 SC478709 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 SC478709 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC478709 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 SC478709 frs-bus:SmallEntities 2023-06-01 2024-05-31 SC478709 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SC478709 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 SC478709 frs-bus:Director1 2023-06-01 2024-05-31 SC478709 frs-bus:Director2 2023-06-01 2024-05-31 SC478709 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 SC478709 frs-countries:Scotland 2023-06-01 2024-05-31 SC478709 2022-05-31 SC478709 2023-05-31 SC478709 2022-06-01 2023-05-31 SC478709 frs-core:CurrentFinancialInstruments 2023-05-31 SC478709 frs-core:Non-currentFinancialInstruments 2023-05-31 SC478709 frs-core:ShareCapital 2023-05-31 SC478709 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: SC478709
Luisa Foods Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
14 Newton Place
Glasgow
G3 7PY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC478709
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,000 15,000
Tangible Assets 5 8,060 10,747
18,060 25,747
CURRENT ASSETS
Stocks 6 3,550 5,000
Debtors 7 10 -
Cash at bank and in hand 43,019 81,255
46,579 86,255
Creditors: Amounts Falling Due Within One Year 8 (21,669 ) (22,818 )
NET CURRENT ASSETS (LIABILITIES) 24,910 63,437
TOTAL ASSETS LESS CURRENT LIABILITIES 42,970 89,184
Creditors: Amounts Falling Due After More Than One Year 9 (10,833 ) (20,833 )
NET ASSETS 32,137 68,351
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 32,135 68,349
SHAREHOLDERS' FUNDS 32,137 68,351
Page 1
Page 2
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Anna Smeaton
Director
12/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Luisa Foods Limited is a private company, limited by shares, incorporated in Scotland, registered number SC478709 . The registered office is Gallone & Co., 14 Newton Place, Glasgow, G3 7PY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Net Remaining Value
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 7)
5 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 50,000
As at 31 May 2024 50,000
Amortisation
As at 1 June 2023 35,000
Provided during the period 5,000
As at 31 May 2024 40,000
Net Book Value
As at 31 May 2024 10,000
As at 1 June 2023 15,000
Page 3
Page 4
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 June 2023 40,483
As at 31 May 2024 40,483
Depreciation
As at 1 June 2023 29,736
Provided during the period 2,687
As at 31 May 2024 32,423
Net Book Value
As at 31 May 2024 8,060
As at 1 June 2023 10,747
6. Stocks
2024 2023
£ £
Finished goods 3,550 5,000
7. Debtors
2024 2023
£ £
Due within one year
Other taxes and social security 10 -
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Other taxes and social security - 335
VAT 9,920 10,575
Pension payable 77 86
Accruals and deferred income 1,500 1,500
Directors' loan accounts 172 322
21,669 22,818
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,833 20,833
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4