Registration number:
Lunar Academy Limited
trading as
for the Period from 10 May 2023 to 30 September 2024
Lunar Academy Limited
trading as Lunar Academy
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Staff numbers |
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 |
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Accountants |
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Lunar Academy Limited
trading as Lunar Academy
(Registration number: 14858237)
Balance Sheet as at 30 September 2024
Note |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
100 |
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Retained earnings |
(88,204) |
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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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Lunar Academy Limited
trading as Lunar Academy
(Registration number: 14858237)
Balance Sheet as at 30 September 2024
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Lunar Academy Limited
trading as Lunar Academy
Notes to the Unaudited Financial Statements for the Period from 10 May 2023 to 30 September 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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
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
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Lunar Academy Limited
trading as Lunar Academy
Notes to the Unaudited Financial Statements for the Period from 10 May 2023 to 30 September 2024
Tangible assets |
Set Equipment |
Website |
IT Equipment |
Total |
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Cost or valuation |
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Additions |
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At 30 September 2024 |
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Depreciation |
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Charge for the period |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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Stocks |
2024 |
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Merchandise |
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Work in progress |
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Debtors |
Current |
2024 |
Trade debtors |
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Other debtors |
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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 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
2024 |
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Due after one year |
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Other non-current financial liabilities |
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Share capital |
Allotted, called up and fully paid shares
2024 |
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No. |
£ |
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76 |
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24 |
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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 |
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Rendering of services |
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Loans from related parties
2024 |
Other related parties |
Total |
Advanced |
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At end of period |
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