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REGISTERED NUMBER: 09042909 (England and Wales)






















Lusstech Limited

Unaudited Financial Statements for the Year Ended 29th February 2024






Lusstech Limited (Registered number: 09042909)






Contents of the Financial Statements
for the year ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lusstech Limited

Company Information
for the year ended 29th February 2024







DIRECTORS: D Lussey
Mrs J Charnley





SECRETARY: S Lussey





REGISTERED OFFICE: The Old Stables Office
Mount Pleasant
Scruton
Northallerton
North Yorkshire
DL7 0QZ





REGISTERED NUMBER: 09042909 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Lusstech Limited (Registered number: 09042909)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 760 1,045

CURRENT ASSETS
Debtors 5 6,128 78,780
Cash at bank and in hand 43,383 1,670
49,511 80,450
CREDITORS
Amounts falling due within one year 6 317,857 317,878
NET CURRENT LIABILITIES (268,346 ) (237,428 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(267,586

)

(236,383

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (267,587 ) (236,384 )
SHAREHOLDERS' FUNDS (267,586 ) (236,383 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th October 2024 and were signed on its behalf by:





D Lussey - Director


Lusstech Limited (Registered number: 09042909)

Notes to the Financial Statements
for the year ended 29th February 2024

1. STATUTORY INFORMATION

Lusstech 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.

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.

In light of the net liabilities at the year end, the directors have reviewed the company's ability to continue as a going concern. In performing the review the directors have taken into account current and future sources of income in the context of the company's stage in its business plan. The company is primarily funded throughout its infancy by a combination of grants and soft loans from its shareholders. The directors have indicated their willingness to continue to financially support the company. Having performed the review, the directors are of the opinion that the company meets the definition of a going concern. Accordingly the financial statements continue to be prepared on the going concern basis.

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

Government grants
Government grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Lusstech Limited (Registered number: 09042909)

Notes to the Financial Statements - continued
for the year ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st March 2023
and 29th February 2024 4,511
DEPRECIATION
At 1st March 2023 3,466
Charge for year 285
At 29th February 2024 3,751
NET BOOK VALUE
At 29th February 2024 760
At 28th February 2023 1,045

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,128 78,780

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,991 7,097
Other creditors 313,866 310,781
317,857 317,878

7. RELATED PARTY DISCLOSURES

Included within other creditors is a loan of £312,235 (2023 £308,235) from Mr D Lussey. The loan is repayable on demand.