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Registered number: 04795918
Luke Morley Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Fairmans Accountants
61 Stanifield Lane
Farington
Leyland
PR25 4UD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04795918
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 392 5,852
392 5,852
CURRENT ASSETS
Debtors 5 15,850 13,230
Cash at bank and in hand 67,518 71,942
83,368 85,172
Creditors: Amounts Falling Due Within One Year 6 (35,371 ) (37,515 )
NET CURRENT ASSETS (LIABILITIES) 47,997 47,657
TOTAL ASSETS LESS CURRENT LIABILITIES 48,389 53,509
Creditors: Amounts Falling Due After More Than One Year 7 (15,467 ) (23,173 )
NET ASSETS 32,922 30,336
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 32,920 30,334
SHAREHOLDERS' FUNDS 32,922 30,336
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Luke Morley
Director
26/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Luke Morley Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04795918 . The registered office is 61 Stanifield Lane, Farington, Leyland, PR25 4WF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Motor Vehicles 25% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
Income tax expense represents the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 3,724 71,420 75,144
Additions 410 - 410
As at 30 June 2024 4,134 71,420 75,554
Depreciation
As at 1 July 2023 3,604 65,688 69,292
Provided during the period 141 5,729 5,870
As at 30 June 2024 3,745 71,417 75,162
Net Book Value
As at 30 June 2024 389 3 392
As at 1 July 2023 120 5,732 5,852
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 15,850 13,230
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 745 321
Corporation tax 22,929 26,508
Other taxes and social security 689 -
VAT 6,844 8,125
Net wages 2,687 -
Accruals and deferred income 1,468 1,289
Director's loan account 9 1,272
35,371 37,515
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,467 23,173
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Luke Morley 35,150 35,250
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