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Company Registration No. 07224873 (England and Wales)
Lucid Creates Limited Unaudited accounts for the year ended 30 April 2024
Lucid Creates Limited Unaudited accounts Contents
Page
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Lucid Creates Limited Company Information for the year ended 30 April 2024
Director
Christopher Carr
Company Number
07224873 (England and Wales)
Registered Office
ORCHARD FARM SCHOOL LANE IWADE KENT ME9 8QG ENGLAND
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Lucid Creates Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
132,757 
216,496 
Current assets
Inventories
5,500 
5,500 
Debtors
352,707 
342,292 
Cash at bank and in hand
39,224 
236,904 
397,431 
584,696 
Creditors: amounts falling due within one year
(107,041)
(168,536)
Net current assets
290,390 
416,160 
Total assets less current liabilities
423,147 
632,656 
Creditors: amounts falling due after more than one year
(228,034)
(328,637)
Provisions for liabilities
Other provisions
(3,625)
(7,517)
Net assets
191,488 
296,502 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
191,487 
296,501 
Shareholders' funds
191,488 
296,502 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 January 2025 and were signed on its behalf by
Christopher Carr Director Company Registration No. 07224873
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Lucid Creates Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Lucid Creates Limited is a private company, limited by shares, registered in England and Wales, registration number 07224873. The registered office is ORCHARD FARM, SCHOOL LANE, IWADE, KENT, ME9 8QG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed 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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
20% Reducing Balance
Computer equipment
20% Reducing Balance
Presentation currency
The accounts are presented in £ sterling.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Lucid Creates Limited Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
281,865 
19,890 
5,224 
306,979 
Additions
207,849 
28,990 
440 
237,279 
Disposals
(288,993)
- 
- 
(288,993)
At 30 April 2024
200,721 
48,880 
5,664 
255,265 
Depreciation
At 1 May 2023
75,574 
13,399 
1,510 
90,483 
Charge for the year
102,516 
7,094 
831 
110,441 
On disposals
(78,416)
- 
- 
(78,416)
At 30 April 2024
99,674 
20,493 
2,341 
122,508 
Net book value
At 30 April 2024
101,047 
28,387 
3,323 
132,757 
At 30 April 2023
206,291 
6,491 
3,714 
216,496 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
28,385 
32,673 
Trade debtors
28,998 
57,020 
Accrued income and prepayments
- 
167,851 
Other debtors
295,324 
84,748 
352,707 
342,292 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
29,710 
42,350 
VAT
19,058 
102,061 
Obligations under finance leases and hire purchase contracts
8,425 
2,361 
Trade creditors
22,284 
- 
Taxes and social security
1,116 
(13,893)
Proposed dividends
20,580 
20,580 
Loans from directors
5,868 
14,197 
Accruals
- 
880 
107,041 
168,536 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
86,892 
160,006 
Obligations under finance leases and hire purchase contracts
141,142 
168,631 
228,034 
328,637 
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Lucid Creates Limited Notes to the Accounts for the year ended 30 April 2024
8
Transactions with related parties
LDCB Management Ltd & Lucid Builds Ltd Chris Carr is a Director and shareholder
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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