Registration number:
Lookiimedia (UK) Limited
for the Year Ended 31 December 2024
Lookiimedia (UK) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Lookiimedia (UK) Limited
Company Information
Directors |
Ms J O'Toole Mr B O'Toole |
Registered office |
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Lookiimedia (UK) Limited
(Registration number: 09028314)
Balance Sheet as at 31 December 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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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 liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
2,121 |
2,105 |
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Share premium reserve |
321,994 |
248,400 |
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Other reserves |
597,048 |
- |
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Retained earnings |
(2,001,935) |
(1,588,920) |
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Shareholders' deficit |
(1,080,772) |
(1,338,415) |
For the financial year ending 31 December 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. |
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.
These financial statements have been 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
Lookiimedia (UK) Limited
(Registration number: 09028314)
Balance Sheet as at 31 December 2024
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Lookiimedia (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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.
Group accounts not prepared
Disclosure of long or short period
Therefore these financial statements are for a 12 month period and not comparable to the previous period.
Going concern
At 31 December 2024, the company had net liabilities. Despite this, the director has confirmed that in their opinion the company will be able to meet its liabilities as they fall due for the foreseeable future (being a period not less than twelve months).
Consequently, the company is considered a going concern.
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.
Lookiimedia (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Foreign currency transactions and balances
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% Straight line |
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
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 |
Trademarks |
10% |
Investments
Fixed asset investments are stated at historical cost less provision for any diminuation in value.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Lookiimedia (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Intangible assets |
Trademarks and patents |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions acquired separately |
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At 31 December 2024 |
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Amortisation |
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At 1 January 2024 |
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Amortisation charge |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Lookiimedia (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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Disposals |
( |
( |
At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Debtors |
Current |
Note |
2024 |
2023 |
Amounts owed by related parties |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Lookiimedia (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Loans and borrowings |
2024 |
2023 |
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Current loans and borrowings |
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Director's Loan |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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2,120.76 |
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2,105.27 |
New shares alloted
During the year the Company undertook a subdivision of shares, the nominal value after the subdivision is £0.001 per share and the 210,527 shares became 2,105,270 shares.
During the period, 15,490 ordinary shares having an aggregate nominal value of £15.49 were allotted for an aggregate consideration of £73,610.
Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
2024 |
2023 |
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Remuneration |
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During the year, Lookiimobile Tunisia (formerly WebExperts), a company registered in Tunisia and 100% owned by Mr B O'Toole and Ms J O'Toole, the directors of the Company, provided development services to the Company totalling £287,500 (July 2023 - Dec 2023: £107,000). At the balance sheet date the amount due to Lookiimobile Tunisia was nil (Dec 2023: £nil).
The company has taken advantage of the exemption in Section 33.1 A of FRS102 Related Party Transaction from disclosing the details of transactions with other companies within the group.
Control |
There is no controlling party.
There is no ultimate controlling party.