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Registered number: 07140078
Luffships Limited
Financial Statements
For The Year Ended 31 January 2024
Godfrey Mansell & Co
Hales Court
Stourbridge Road
Halesowen
B63 3TT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07140078
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 131 197
131 197
CURRENT ASSETS
Stocks 5 20,000 45,806
Debtors 6 4,456 -
Cash at bank and in hand 568 1,957
25,024 47,763
Creditors: Amounts Falling Due Within One Year 7 (156,619 ) (126,613 )
NET CURRENT ASSETS (LIABILITIES) (131,595 ) (78,850 )
TOTAL ASSETS LESS CURRENT LIABILITIES (131,464 ) (78,653 )
NET LIABILITIES (131,464 ) (78,653 )
CAPITAL AND RESERVES
Called up share capital 8 4 4
Profit and Loss Account (131,468 ) (78,657 )
SHAREHOLDERS' FUNDS (131,464) (78,653)
Page 1
Page 2
For the year ending 31 January 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
Mr C R Luffman
Director
25 October 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
Luffships Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07140078 . The registered office is Hales Court, Stourbridge Road, Halesowen, B63 3TT.
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. 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:
Computer Equipment 25% reducing balance
2.3. 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: NIL (2023: NIL)
- -
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 February 2023 1,023
As at 31 January 2024 1,023
Depreciation
As at 1 February 2023 826
Provided during the period 66
As at 31 January 2024 892
Net Book Value
As at 31 January 2024 131
As at 1 February 2023 197
5. Stocks
2024 2023
£ £
Stock 20,000 45,806
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 4,456 -
Page 3
Page 4
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,961 17,960
Other creditors 138,658 108,653
156,619 126,613
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
Page 4