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REGISTERED NUMBER: 05981945 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Luckylease Limited

Luckylease Limited (Registered number: 05981945)






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


Luckylease Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D G Buckley
B E Buckley





SECRETARY: B E Buckley





REGISTERED OFFICE: 21 Gold Tops
Newport
South Wales
NP20 4PG





REGISTERED NUMBER: 05981945 (England and Wales)





ACCOUNTANTS: Guilfoyle Sage LLP
21 Gold Tops
Newport
South Wales
NP20 4PG

Luckylease Limited (Registered number: 05981945)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 811,320 810,747

CURRENT ASSETS
Debtors 5 29,762 35,363
Cash at bank 46,278 36,640
76,040 72,003
CREDITORS
Amounts falling due within one year 6 102,887 101,088
NET CURRENT LIABILITIES (26,847 ) (29,085 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

784,473

781,662

PROVISIONS FOR LIABILITIES 12,000 12,000
NET ASSETS 772,473 769,662

CAPITAL AND RESERVES
Called up share capital 301 301
Revaluation reserve 7 239,216 239,216
Retained earnings 532,956 530,145
SHAREHOLDERS' FUNDS 772,473 769,662

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 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.

Luckylease Limited (Registered number: 05981945)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2024 and were signed on its behalf by:




D G Buckley - Director



B E Buckley - Director


Luckylease Limited (Registered number: 05981945)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Luckylease Limited 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 25% on cost and 15% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Luckylease Limited (Registered number: 05981945)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 810,000 20,276 830,276
Additions - 1,261 1,261
Disposals - (2,115 ) (2,115 )
At 31 March 2024 810,000 19,422 829,422
DEPRECIATION
At 1 April 2023 - 19,529 19,529
Charge for year - 688 688
Eliminated on disposal - (2,115 ) (2,115 )
At 31 March 2024 - 18,102 18,102
NET BOOK VALUE
At 31 March 2024 810,000 1,320 811,320
At 31 March 2023 810,000 747 810,747

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2007 41,732 - 41,732
Valuation in 2016 45,475 - 45,475
Valuation in 2017 45,837 - 45,837
Valuation in 2018 106,172 - 106,172
Cost 570,784 19,422 590,206
810,000 19,422 829,422

If freehold property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 570,784 570,784

Freehold property was valued on an open market basis on 31 March 2024 by the directors .

Luckylease Limited (Registered number: 05981945)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 12,795 18,493
Other debtors 16,967 16,870
29,762 35,363

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 11,603 13,784
Taxation and social security 8,945 11,239
Other creditors 82,339 76,065
102,887 101,088

7. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 239,216

8. RELATED PARTY DISCLOSURES

The Company paid the directors interest on their loan to the Company at 5% amounting to £3,386, (2023: £1,996).