REGISTERED NUMBER: 12077867 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Lumacon Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C M Giles

REGISTERED OFFICE:

1 Manor Court

6 Barnes Wallis Road

Fareham

Hampshire

PO15 5TH

REGISTERED NUMBER:

12077867 (England and Wales)

ACCOUNTANTS:

Roches

Chartered Accountants

1 Manor Court

6 Barnes Wallis Road

Segensworth

Fareham

Hampshire

PO15 5TH

FIXED ASSETS

Intangible assets

4

11,763

10,708

Tangible assets

5

176,815

207,865

188,578

218,573

CURRENT ASSETS

Stocks

18,000

27,500

Debtors

6

196,640

238,490

Cash at bank and in hand

213,518

277,726

428,158

543,716

CREDITORS

Amounts falling due within one year

7

289,369

367,439

NET CURRENT ASSETS

138,789

176,277

TOTAL ASSETS LESS CURRENT LIABILITIES

327,367

394,850

CREDITORS

Amounts falling due after more than one year

8

(76,122

)

(99,356

)

PROVISIONS FOR LIABILITIES

(8,679

)

(12,084

)

NET ASSETS

242,566

283,410

CAPITAL AND RESERVES

Called up share capital

1,006

1,006

Retained earnings

241,560

282,404

SHAREHOLDERS' FUNDS

242,566

283,410

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 30 November 2024 and were signed by:

C M Giles - Director

1.	STATUTORY INFORMATION

Lumacon 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

Turnover 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 2021, is being amortised evenly over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on reducing balance, 25% on cost and Over the term of the lease

Stocks

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

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Financial assets & financial liabilities are initially recognised at the transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. However, if the arrangement constitutes a financing transaction then it is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets & financial liabilities classified as receivable within one year are not amortised.

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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2023

20,084

Additions

6,750

At 31 July 2024

26,834

AMORTISATION

At 1 August 2023

9,376

Amortisation for year

5,695

At 31 July 2024

15,071

NET BOOK VALUE

At 31 July 2024

11,763

At 31 July 2023

10,708

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2023

254,419

Additions

18,914

Disposals

(4,600

)

At 31 July 2024

268,733

DEPRECIATION

At 1 August 2023

46,554

Charge for year

46,322

Eliminated on disposal

(958

)

At 31 July 2024

91,918

NET BOOK VALUE

At 31 July 2024

176,815

At 31 July 2023

207,865

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2023

and 31 July 2024

110,946

DEPRECIATION

At 1 August 2023

13,353

Charge for year

15,034

At 31 July 2024

28,387

NET BOOK VALUE

At 31 July 2024

82,559

At 31 July 2023

97,593

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade debtors

171,340

182,835

Other debtors

25,300

55,655

196,640

238,490

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Bank loans and overdrafts

9,998

9,999

Finance leases

13,608

13,233

Trade creditors

62,575

99,729

Taxation and social security

151,062

172,235

Other creditors

52,126

72,243

289,369

367,439

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.24

31.7.23

£

£

Bank loans

13,333

23,333

Finance leases

62,789

76,023

76,122

99,356

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.24

31.7.23

£

£

Finance leases

76,397

89,256

The above lease finance is secured against the related asset.