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Registered Number: 05760476
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 May 2024

for

LUDAN LIMITED

Director Kevin Whalley
Registered Number 05760476
Registered Office 7-10 Harrow Market
Station Road
Langley
SL3 8HJ
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 1    1 
Tangible fixed assets 4 1    1 
2    2 
Current assets      
Stocks 5 86,162    73,282 
Debtors: amounts falling due within one year 6 329,718    328,420 
Cash at bank and in hand 26,589    73,280 
442,469    474,982 
Creditors: amount falling due within one year 7 (324,702)   (367,920)
Net current assets 117,767    107,062 
 
Total assets less current liabilities 117,769    107,064 
Creditors: amount falling due after more than one year 8 24    145 
Provisions for liabilities 9  
Net assets 117,793    107,209 
 

Capital and reserves
     
Called up share capital 10 100    100 
Profit and loss account 117,693    107,109 
Shareholders' funds 117,793    107,209 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 08 April 2025 and were signed by:


-------------------------------
Kevin Whalley
Director
2
General Information
Ludan Limited is a private company, limited by shares, registered in England and Wales, registration number 05760476, registration address 7-10 Harrow Market, Station Road, Langley, SL3 8HJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Cost of sales
Cost of Sales comprises the value of goods supplied to the company for sale to customers, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Fixtures and Fittings 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 30 (2023 : 29).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2023 1,112,579    1,112,579 
Additions  
Disposals  
At 31 May 2024 1,112,579    1,112,579 
Amortisation
At 01 June 2023 1,112,578    1,112,578 
Charge for year  
On disposals  
At 31 May 2024 1,112,578    1,112,578 
Net book values
At 31 May 2024 1    1 
At 31 May 2023 1    1 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Total
  £   £   £   £
At 01 June 2023 1    112,218    572,027    684,246 
Additions      
Disposals      
At 31 May 2024 1    112,218    572,027    684,246 
Depreciation
At 01 June 2023   112,218    572,027    684,245 
Charge for year      
On disposals      
At 31 May 2024   112,218    572,027    684,245 
Net book values
Closing balance as at 31 May 2024 1        1 
Opening balance as at 01 June 2023 1        1 


5.

Stocks

2024
£
  2023
£
Stocks 86,162    73,282 
86,162    73,282 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 1    1 
Prepayments & Accrued Income 17,500    19,202 
Other Debtors 258,200    258,200 
Corporation Tax 4,964    4,964 
Directors' Current Accounts 49,053    46,053 
329,718    328,420 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 266,851    298,062 
PAYE & Social Security 9,767    3,800 
Accrued Expenses 45,149    61,851 
VAT 2,935    4,207 
324,702    367,920 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Trade Creditors (24)   (145)
(24)   (145)

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax  
 

10.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary A shares of £1.00 each 100    100 
100    100 

3