Company registration number 04752477 (England and Wales)
LUCID PUBLIC RELATIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LUCID PUBLIC RELATIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LUCID PUBLIC RELATIONS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
158
1,330
Current assets
Debtors
5
100,002
115,884
Cash at bank and in hand
14,408
12,859
114,410
128,743
Creditors: amounts falling due within one year
6
(140,155)
(188,570)
Net current liabilities
(25,745)
(59,827)
Net liabilities
(25,587)
(58,497)
Capital and reserves
Called up share capital
200
200
Other reserves
58
58
Profit and loss reserves
(25,845)
(58,755)
Total equity
(25,587)
(58,497)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 14 November 2024
N R C G Lycett
Director
Company registration number 04752477 (England and Wales)
LUCID PUBLIC RELATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Lucid Public Relations Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O YMU Business Management Ltd, 180 Great Portland Street, London, W1W 5QZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Going concern

Going Concern Justificationtrue

The company has agreed terms with its main creditors and has been able to keep to payment plans agreed. As a result they have adopted the going concern basis of accounting.

1.3
Turnover

Turnover represents royalty income and consultancy fees net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
20% straight line
1.5
Financial instruments

The company only has basic financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Classification of financial liabilities

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, maybe if appreciable, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

LUCID PUBLIC RELATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
LUCID PUBLIC RELATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
15,027
Depreciation and impairment
At 1 April 2023
13,697
Depreciation charged in the year
1,172
At 31 March 2024
14,869
Carrying amount
At 31 March 2024
158
At 31 March 2023
1,330
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
12,896
12,896
Other debtors
87,106
102,988
100,002
115,884
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
120
120
Trade creditors
70,203
65,327
Corporation tax
17,111
50,783
Other taxation and social security
395
23,066
Other creditors
52,326
49,274
140,155
188,570
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