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Company Registration No. 12256821 (England and Wales)
Luckster Limited Unaudited accounts for the year ended 31 March 2024
Luckster Limited Unaudited accounts Contents
Page
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Luckster Limited Company Information for the year ended 31 March 2024
Directors
R Pillai S Ludwig
Company Number
12256821 (England and Wales)
Registered Office
85 Great Portland Street London W1W 7LT England
Accountants
DKB Accountancy & Taxation 12 Blackbrook Drive Lodge Moor Sheffield South Yorkshire S10 4LS
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Luckster Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
298 
397 
Current assets
Inventories
109,339 
109,339 
Debtors
121 
30 
Cash at bank and in hand
15 
9 
109,475 
109,378 
Creditors: amounts falling due within one year
(129,650)
(123,768)
Net current liabilities
(20,175)
(14,390)
Net liabilities
(19,877)
(13,993)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(19,879)
(13,995)
Shareholders' funds
(19,877)
(13,993)
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by
R Pillai Director Company Registration No. 12256821
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Luckster Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Luckster Limited is a private company, limited by shares, registered in England and Wales, registration number 12256821. The registered office is 85 Great Portland Street, London, W1W 7LT, 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.
Presentation currency
The accounts are presented in £ sterling.
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:
Computer equipment
25% - reducing balance
Inventories and work in progress
Work in progress relates to ongoing development costs and land/ building stocks. These have been valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Luckster Limited Notes to the Accounts for the year ended 31 March 2024
Going concern
As at 31 March 2023, the company had net liabilities. It is anticipated that this will remain the case for the immediate future and until the completion of the first phase of the initial property development. The directors continue to provide their agreement to support the company - financially and otherwise - until the company is profitable. This undertaking is anticipated to be for not less than 24 months. These accounts have therefore been prepared under the assumption that the company is a going concern.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
489 
At 31 March 2024
489 
Depreciation
At 1 April 2023
92 
Charge for the year
99 
At 31 March 2024
191 
Net book value
At 31 March 2024
298 
At 31 March 2023
397 
5
Inventories
2024 
2023 
£ 
£ 
Work in progress
109,339 
109,339 
109,339 
109,339 
'Work in Progress' relates to land, building stock, and costs relating to the development of properties for resale.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
121 
30 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
1,440 
Loans from directors
129,102 
121,975 
Accruals
548 
353 
129,650 
123,768 
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Luckster Limited Notes to the Accounts for the year ended 31 March 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Transactions with related parties
At the year-end, a balance of £129,102 (2023: £121,975), included in Director's Loans, was owed to directors. This is partly the result of financing provided by the directors throughout the period. The balance also includes the unpaid balance on the transfer of land - at market value - from the directors to the company of £105,000 (2023: £105,000). The loan is unsecured, repayable on demand and non-interest bearing. The directors do not seek to call in the loan funding until the company is profit-making.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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