REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 9 JUNE 2023 TO 30 JUNE 2024 |
FOR |
LUCIA (INVESTMENTS) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 9 JUNE 2023 TO 30 JUNE 2024 |
FOR |
LUCIA (INVESTMENTS) LIMITED |
LUCIA (INVESTMENTS) LIMITED (REGISTERED NUMBER: 14927160) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 JUNE 2023 TO 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LUCIA (INVESTMENTS) LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 9 JUNE 2023 TO 30 JUNE 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Old Carriage Works |
Moresk Road |
Truro |
Cornwall |
TR1 1DG |
LUCIA (INVESTMENTS) LIMITED (REGISTERED NUMBER: 14927160) |
BALANCE SHEET |
30 JUNE 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The director acknowledges her 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. |
The financial statements were approved by the director and authorised for issue on |
LUCIA (INVESTMENTS) LIMITED (REGISTERED NUMBER: 14927160) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 JUNE 2023 TO 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Lucia (Investments) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the going concern convention on the basis of continued financial support from the company's creditors. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method. |
Rental income is recognised on an accruals basis. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investment property is carried at fair value, derived from current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account. No depreciation is provided on investment properties. |
Taxation |
Taxation for the period 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. |
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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
LUCIA (INVESTMENTS) LIMITED (REGISTERED NUMBER: 14927160) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 JUNE 2023 TO 30 JUNE 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
COST |
Additions |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
Included within the net book value of investment property above is £467,403 in respect of freehold land and buildings. The freehold property is held at historical cost as it was purchased in March 2024. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 30 June 2024: |
£ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid |
Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
LUCIA (INVESTMENTS) LIMITED (REGISTERED NUMBER: 14927160) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 JUNE 2023 TO 30 JUNE 2024 |
9. | RELATED PARTY DISCLOSURES |
In November 2023 the company received a loan of £525,000 from a relative of the controlling parties. The loan agreement reflects an interest rate of 8% which is payable when requested. The attorney for the lender is also a controlling party in Lucia Investments Limited and is directly related to the lender. As at the year end, interest of £24,500 has been provided for in the accounts but not paid. |
The company received further advances of £94,668 from the same lender in the year, no interest or repayments have accrued by the year end. |
As at the year end, £9,668 of the loan is shown within current liabilities and the remaining £634,500 is shown within amounts due after more than one year. |
10. | ULTIMATE CONTROLLING PARTY |
The company is controlled by L E Townsend who together with her mother and father controls 100% of the issued share capital. |