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REGISTERED NUMBER: 13374409 (England and Wales)















Financial Statements for the Year Ended 31st May 2024

for

LUCRO GROUP LIMITED

LUCRO GROUP LIMITED (Registered number: 13374409)

Contents of the Financial Statements
for the Year Ended 31st May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LUCRO GROUP LIMITED

Company Information
for the Year Ended 31st May 2024







DIRECTOR: R Chand





SECRETARY:





REGISTERED OFFICE: 32 MELLISH ROAD
WALSALL
West Midlands
WS4 2ED





REGISTERED NUMBER: 13374409 (England and Wales)





ACCOUNTANT: A K & Co Accountants
732 Walsall Road
Great Barr
Birmingham
West Midlands
B42 1EX

LUCRO GROUP LIMITED (Registered number: 13374409)

Balance Sheet
31st May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,500 12,000
Property, plant and equipment 5 94,812 108,355
105,312 120,355

CURRENT ASSETS
Inventories 6 6,981 7,088
Debtors 7 3,540 3,540
Cash at bank 8 -
10,529 10,628
CREDITORS
Amounts falling due within one year 8 169,029 185,022
NET CURRENT LIABILITIES (158,500 ) (174,394 )
TOTAL ASSETS LESS CURRENT LIABILITIES (53,188 ) (54,039 )

CREDITORS
Amounts falling due after more than one
year

9

36,460

36,460
NET LIABILITIES (89,648 ) (90,499 )

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 12 (89,649 ) (90,500 )
SHAREHOLDERS' FUNDS (89,648 ) (90,499 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LUCRO GROUP LIMITED (Registered number: 13374409)

Balance Sheet - continued
31st May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd February 2025 and were signed by:





R Chand - Director


LUCRO GROUP LIMITED (Registered number: 13374409)

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


1. STATUTORY INFORMATION

LUCRO GROUP LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Good Will 10% pa flat rates

Plant and machinery 10% pa on flat rates

Fixtures and fittings 10% pa on flat rates

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


LUCRO GROUP LIMITED (Registered number: 13374409)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2023
and 31st May 2024 15,000
AMORTISATION
At 1st June 2023 3,000
Amortisation for year 1,500
At 31st May 2024 4,500
NET BOOK VALUE
At 31st May 2024 10,500
At 31st May 2023 12,000

LUCRO GROUP LIMITED (Registered number: 13374409)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1st June 2023
and 31st May 2024 1 99,941 35,499 135,441
DEPRECIATION
At 1st June 2023 - 19,988 7,098 27,086
Charge for year - 9,994 3,549 13,543
At 31st May 2024 - 29,982 10,647 40,629
NET BOOK VALUE
At 31st May 2024 1 69,959 24,852 94,812
At 31st May 2023 1 79,953 28,401 108,355

6. INVENTORIES
31.5.24 31.5.23
£    £   
Stocks 6,981 7,088

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Rent payment in advance 3,540 3,540

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts (see note 10) - 4,342
Trade creditors 12,779 24,230
Directors' current accounts 155,000 155,000
Accrued expenses 1,250 1,450
169,029 185,022

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Other loans (see note 10) 36,460 36,460

LUCRO GROUP LIMITED (Registered number: 13374409)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024


10. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 4,342

Amounts falling due between one and two years:
Other loans - 1-2 years 36,460 36,460

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 ordinary share capital £1 1 1

12. RESERVES
Retained
earnings
£   

At 1st June 2023 (90,500 )
Profit for the year 851
At 31st May 2024 (89,649 )