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Registration number: 14858237

Lunar Academy Limited

trading as Lunar Academy

Unaudited Filleted Financial Statements

for the Period from 10 May 2023 to 30 September 2024

 

Lunar Academy Limited

trading as Lunar Academy

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

Staff numbers

7

 

Lunar Academy Limited

trading as Lunar Academy

Company Information

Directors

Mr Emrah Elmasli

Mr David Trumble

Mrs Damla Elmasli

Company secretary

Mr David Trumble

Registered office

Office 223
23 King Street
Cambridge
Cambridgeshire
CB1 1AH

Accountants

Mr David Trumble

 

Lunar Academy Limited

trading as Lunar Academy

(Registration number: 14858237)
Balance Sheet as at 30 September 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

24,583

Current assets

 

Stocks

5

27,080

Debtors

6

42,492

Cash at bank and in hand

 

4,421

 

73,993

Creditors: Amounts falling due within one year

7

(13,525)

Net current assets

 

60,468

Total assets less current liabilities

 

85,051

Creditors: Amounts falling due after more than one year

7

(173,155)

Net liabilities

 

(88,104)

Capital and reserves

 

Called up share capital

8

100

Retained earnings

(88,204)

Shareholders' deficit

 

(88,104)

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

 

Lunar Academy Limited

trading as Lunar Academy

(Registration number: 14858237)
Balance Sheet as at 30 September 2024

.........................................
Mr Emrah Elmasli
Director

 

Lunar Academy Limited

trading as Lunar Academy

Notes to the Unaudited Financial Statements for the Period from 10 May 2023 to 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Office 223
23 King Street
Cambridge
Cambridgeshire
CB1 1AH
United Kingdom

These financial statements were authorised for issue by the Board on 28 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Lunar Academy Limited

trading as Lunar Academy

Notes to the Unaudited Financial Statements for the Period from 10 May 2023 to 30 September 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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 balance sheet date in the countries where the Company operates and generates income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

IT Equipment

Straight Line 2 Years

Set Equipment

Straight Line 2 Years

 

Lunar Academy Limited

trading as Lunar Academy

Notes to the Unaudited Financial Statements for the Period from 10 May 2023 to 30 September 2024

Website

Straight Line 5 Years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Lunar Academy Limited

trading as Lunar Academy

Notes to the Unaudited Financial Statements for the Period from 10 May 2023 to 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

 

Lunar Academy Limited

trading as Lunar Academy

Notes to the Unaudited Financial Statements for the Period from 10 May 2023 to 30 September 2024

4

Tangible assets

Set Equipment
£

Website
£

IT Equipment
£

Total
£

Cost or valuation

Additions

856

23,647

2,151

26,654

At 30 September 2024

856

23,647

2,151

26,654

Depreciation

Charge for the period

207

1,576

288

2,071

At 30 September 2024

207

1,576

288

2,071

Carrying amount

At 30 September 2024

649

22,071

1,863

24,583

5

Stocks

2024
£

Merchandise

4,774

Work in progress

22,306

27,080

6

Debtors

Current

2024
£

Trade debtors

1,320

Other debtors

41,172

 

42,492

7

Creditors

Creditors: amounts falling due within one year

 

Lunar Academy Limited

trading as Lunar Academy

Notes to the Unaudited Financial Statements for the Period from 10 May 2023 to 30 September 2024

2024
£

Due within one year

Trade creditors

6,563

Taxation and social security

647

Accruals and deferred income

939

Other creditors

5,376

13,525

Creditors: amounts falling due after more than one year

2024
£

Due after one year

Other non-current financial liabilities

173,155

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary Shares A of £1 each

76

76

Ordinary Shares B of £1 each

24

24

100

100

9

Related party transactions

Summary of transactions with other related parties


During the period Lunar Academy Limited entered transactions with Mooncolony Limited, a company under common control. Mooncolony supplied both financial and management support during the setup of Lunar Academy.

Expenditure with and payables to related parties

 

Lunar Academy Limited

trading as Lunar Academy

Notes to the Unaudited Financial Statements for the Period from 10 May 2023 to 30 September 2024

2024

Other related parties
£

Purchase of goods

23,770

Rendering of services

31,301

55,071

Loans from related parties

2024

Other related parties
£

Total
£

Advanced

139,729

139,729

At end of period

139,729

139,729