Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activityfalsetrue2023-03-0132truefalse SC689175 2023-03-01 2024-02-29 SC689175 2022-03-01 2023-02-28 SC689175 2024-02-29 SC689175 2023-02-28 SC689175 c:Director1 2023-03-01 2024-02-29 SC689175 c:Director2 2023-03-01 2024-02-29 SC689175 c:RegisteredOffice 2023-03-01 2024-02-29 SC689175 d:OfficeEquipment 2023-03-01 2024-02-29 SC689175 d:OfficeEquipment 2024-02-29 SC689175 d:OfficeEquipment 2023-02-28 SC689175 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 SC689175 d:CurrentFinancialInstruments 2024-02-29 SC689175 d:CurrentFinancialInstruments 2023-02-28 SC689175 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 SC689175 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 SC689175 d:ShareCapital 2024-02-29 SC689175 d:ShareCapital 2023-02-28 SC689175 d:RetainedEarningsAccumulatedLosses 2024-02-29 SC689175 d:RetainedEarningsAccumulatedLosses 2023-02-28 SC689175 c:OrdinaryShareClass1 2023-03-01 2024-02-29 SC689175 c:OrdinaryShareClass1 2024-02-29 SC689175 c:OrdinaryShareClass1 2023-02-28 SC689175 c:FRS102 2023-03-01 2024-02-29 SC689175 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC689175 c:FullAccounts 2023-03-01 2024-02-29 SC689175 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC689175 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC689175










LUNAN BAY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

 
LUNAN BAY LIMITED
 

COMPANY INFORMATION


Directors
W G Brunton 
P Brunton 




Registered number
SC689175



Registered office
Rhynd House
Rhynd

Perthshire

PH2 8QG




Accountants
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
LUNAN BAY LIMITED
REGISTERED NUMBER: SC689175

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,933
267

Investments
 5 
100
100

  
2,033
367

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
310,568
256,184

Cash at bank and in hand
  
2,455
16,989

  
313,023
273,173

Creditors: amounts falling due within one year
 7 
(43,185)
(72,661)

NET CURRENT ASSETS
  
 
 
269,838
 
 
200,512

TOTAL ASSETS LESS CURRENT LIABILITIES
  
271,871
200,879

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(59)
(67)

  
 
 
(59)
 
 
(67)

NET ASSETS
  
271,812
200,812


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Profit and loss account
  
271,712
200,712

  
271,812
200,812


Page 1

 
LUNAN BAY LIMITED
REGISTERED NUMBER: SC689175

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2024.




W G Brunton
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LUNAN BAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


GENERAL INFORMATION

Lunan Bay Limited is a private company, limited by shares, incorporated in Scotland with registration number SC689175.  The company's registered office address is Rhynd House, Perthshire, PH2 8QG.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
LUNAN BAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
12.5%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
LUNAN BAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).


4.


TANGIBLE FIXED ASSETS







Office equipment

£



COST OR VALUATION


At 1 March 2023
349


Additions
1,942



At 29 February 2024

2,291



DEPRECIATION


At 1 March 2023
82


Charge for the year on owned assets
276



At 29 February 2024

358



NET BOOK VALUE



At 29 February 2024
1,933



At 28 February 2023
267


5.


FIXED ASSET INVESTMENTS








Unlisted investments

£



COST OR VALUATION


At 1 March 2023
100



At 29 February 2024
100





6.


DEBTORS

29 February
28 February
2024
2023
£
£


Other debtors
310,568
256,184
Page 5

 
LUNAN BAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.DEBTORS (CONTINUED)


310,568
256,184



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29 February
28 February
2024
2023
£
£

Other taxation and social security
33,664
55,731

Other creditors
8,021
15,430

Accruals and deferred income
1,500
1,500

43,185
72,661



8.


SHARE CAPITAL

29 February
28 February
2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


Page 6