Company registration number 09927645 (England and Wales)
LUCARDO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LUCARDO LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
LUCARDO LIMITED
COMPANY INFORMATION
- 1 -
Directors
Adam Conroy
Simon Morris
Company number
09927645
Registered office
Floor 2
5-7 Great Ancoats Street
Virginia House
Manchester
UK
M4 5AD
Accountants
Hallidays
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD
LUCARDO LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
6
46,889
54,579
Current assets
Debtors
7
37,478
29,245
Cash at bank and in hand
234,546
225,802
272,024
255,047
Creditors: amounts falling due within one year
8
(77,883)
(76,011)
Net current assets
194,141
179,036
Total assets less current liabilities
241,030
233,615
Creditors: amounts falling due after more than one year
9
(24,537)
(30,093)
Provisions for liabilities
(917)
(832)
Net assets
215,576
202,690
Capital and reserves
Called up share capital
11
70
70
Capital redemption reserve
30
30
Profit and loss reserves
215,476
202,590
Total equity
215,576
202,690

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

LUCARDO LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 28 March 2025 and are signed on its behalf by:
Mr Adam James Conroy
Director
Company Registration No. 09927645
LUCARDO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Lucardo Limited is a private company limited by shares incorporated in England and Wales. The registered office is Floor 2, 5-7 Great Ancoats Street, Virginia House, Manchester, UK, M4 5AD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

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.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
Straight line over seven years
Fixtures and fittings
Straight line over three years
Office equipment
Straight line over three years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

LUCARDO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation
Current tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss,except

that a change attributable to an item of income or expense recognised as other comprehensive income is also

recognised directly in other comprehensive income.

 

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or

substantively enacted by the reporting date in the countries where the company operates and generates

taxable income.

LUCARDO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

 

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

 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Depreciation of tangible fixed assets
15,106
16,135
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
12
4
Dividends
2024
2023
£
£
Interim paid
39,702
44,035
5
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2024
2023
Notes
£
£
In respect of:
Property, plant and equipment
6
-
0
665
Recognised in:
Administrative expenses
-
665
LUCARDO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Office equipment
Total
£
£
£
£
Cost
At 1 January 2024
115,128
3,382
13,924
132,434
Additions
6,384
275
969
7,628
Disposals
(6,185)
-
0
-
0
(6,185)
At 31 December 2024
115,327
3,657
14,893
133,877
Depreciation and impairment
At 1 January 2024
64,508
2,864
10,483
77,855
Depreciation charged in the year
13,569
224
1,313
15,106
Eliminated in respect of disposals
(5,973)
-
0
-
0
(5,973)
At 31 December 2024
72,104
3,088
11,796
86,988
Carrying amount
At 31 December 2024
43,223
569
3,097
46,889
At 31 December 2023
50,620
518
3,441
54,579
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
14,178
16,696
Other debtors
23,300
12,549
37,478
29,245
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,556
5,556
Trade creditors
242
3,577
Amounts owed to group undertakings
2,716
4,472
Taxation and social security
34,614
31,810
Other creditors
34,755
30,596
77,883
76,011
LUCARDO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
24,537
30,093
10
Loans and borrowings
2024
2023
£
£
Bank loans
30,093
35,649
Payable within one year
5,556
5,556
Payable after one year
24,537
30,093
11
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1p each
7,000
7,000
70
70
12
Related party transactions

At the balance sheet date amount owed to The No Fun Company Limited £2,716 (2023: £4,472). This balance is interest free and repayable on demand.

 

At the balance sheet date amount owed from Playtopia Limited £1,009 (2023: £801). This balance is interest free and repayable on demand.

13
Controlling party

The company is controlled by The No Fun Company Limited, by virtue of shareholding.

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