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Registration number: 08061389

Lucy Sparkles Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Lucy Sparkles Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Lucy Sparkles Ltd

Company Information

Director

Mrs L Milan Davis

Registered office

4th Floor
18 St Cross Street
London
EC1N 8UN

Accountants

DG Accountancy Services Limited
Chartered Accountants
17 Stonecot Hill
Sutton
Surrey
SM3 9HB

 

Lucy Sparkles Ltd

(Registration number: 08061389)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

145

217

Current assets

 

Debtors

6

3,902

7,761

Cash at bank and in hand

 

26,220

40,828

 

30,122

48,589

Creditors: Amounts falling due within one year

7

(54,028)

(47,012)

Net current (liabilities)/assets

 

(23,906)

1,577

Net (liabilities)/assets

 

(23,761)

1,794

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(23,762)

1,793

Shareholders' (deficit)/funds

 

(23,761)

1,794

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 13 February 2025
 

.........................................
Mrs L Milan Davis
Director

   
     
 

Lucy Sparkles Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
4th Floor
18 St Cross Street
London
EC1N 8UN

These financial statements were authorised for issue by the director on 13 February 2025.

2

Accounting policies

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.

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

Office equipment

33% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Lucy Sparkles Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

3 years

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

11,300

11,300

At 31 May 2024

11,300

11,300

Amortisation

At 1 June 2023

11,300

11,300

At 31 May 2024

11,300

11,300

Carrying amount

At 31 May 2024

-

-

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

1,611

1,611

At 31 May 2024

1,611

1,611

Depreciation

At 1 June 2023

1,394

1,394

Charge for the year

72

72

At 31 May 2024

1,466

1,466

Carrying amount

At 31 May 2024

145

145

At 31 May 2023

217

217

 

Lucy Sparkles Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

3,099

3,237

Amounts owed by related parties

6

6

Prepayments

 

347

419

Other debtors

 

450

4,099

   

3,902

7,761

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

15

-

Taxation and social security

4,449

2,845

Other creditors

49,564

44,167

54,028

47,012