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REGISTERED NUMBER: 13877120 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

LUCRO SOFTWARE SOLUTIONS LTD

LUCRO SOFTWARE SOLUTIONS LTD (REGISTERED NUMBER: 13877120)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LUCRO SOFTWARE SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr D R Yorke
Mr R L Yorke
Mr J G Baldachin





REGISTERED OFFICE: New Media House
Davidson Road
Lichfield
WS14 9DZ





REGISTERED NUMBER: 13877120 (England and Wales)





ACCOUNTANTS: Brookes Stephens
New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ

LUCRO SOFTWARE SOLUTIONS LTD (REGISTERED NUMBER: 13877120)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 484,044 529,166

Current assets
Debtors 5 419 245
Cash at bank 13 4,285
432 4,530
Creditors
Amounts falling due within one year 6 72,364 13,469
Net current liabilities (71,932 ) (8,939 )
Total assets less current liabilities 412,112 520,227

Capital and reserves
Called up share capital 7 530,100 530,100
Retained earnings (117,988 ) (9,873 )
Shareholders' funds 412,112 520,227

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 October 2024 and were signed on its behalf by:



Mr D R Yorke - Director


LUCRO SOFTWARE SOLUTIONS LTD (REGISTERED NUMBER: 13877120)

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


1. STATUTORY INFORMATION

Lucro Software Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The current year's accounts are not comparable to the prior period. The prior period was the company's first accounting period and was 1 year and 5 days long.

Turnover
Turnover represents net invoiced goods and services, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

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.

LUCRO SOFTWARE SOLUTIONS LTD (REGISTERED NUMBER: 13877120)

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


2. ACCOUNTING POLICIES - continued

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 1 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023 539,258
Additions 9,210
At 31 January 2024 548,468
AMORTISATION
At 1 February 2023 10,092
Charge for year 54,332
At 31 January 2024 64,424
NET BOOK VALUE
At 31 January 2024 484,044
At 31 January 2023 529,166

Computer software of £530,000 held as an intangible asset by the company was acquired during the previous year from Commercial Finance Network Limited, a commonly owned company, under a Scheme of Reconstruction.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 419 -
Other debtors - 245
419 245

LUCRO SOFTWARE SOLUTIONS LTD (REGISTERED NUMBER: 13877120)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 36,796 84
Taxation and social security 2,283 135
Other creditors 33,285 13,250
72,364 13,469

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
530,100 Ordinary £1 530,100 530,100

8. RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £20,300 (2023: £9,900). These loans are interest free and repayable on demand.