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Registered number: 02632695
Luke Stockley Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 02632695
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 34,052 36,915
34,052 36,915
CURRENT ASSETS
Stocks 5 947,127 1,084,443
Debtors 6 180,983 167,917
Cash at bank and in hand 184,427 376,726
1,312,537 1,629,086
Creditors: Amounts Falling Due Within One Year 7 (1,648,487 ) (2,271,673 )
NET CURRENT ASSETS (LIABILITIES) (335,950 ) (642,587 )
TOTAL ASSETS LESS CURRENT LIABILITIES (301,898 ) (605,672 )
Creditors: Amounts Falling Due After More Than One Year 8 (8,528 ) (20,335 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,014 ) (7,014 )
NET LIABILITIES (317,440 ) (633,021 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement (317,540 ) (633,121 )
SHAREHOLDERS' FUNDS (317,440) (633,021)
Page 1
Page 2
For the year ending 31 July 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 Income Statement.
On behalf of the board
S J Bird
Director
12/04/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Luke Stockley Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02632695 . The registered office is 1 Dukes Passage , Brighton, East Sussex, BN1 1BS.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
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 income statement 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 income statement as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 years 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred 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: 7 (2023: 7)
7 7
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2023 82,345 22,159 104,504
Additions 5,650 - 5,650
As at 31 July 2024 87,995 22,159 110,154
Depreciation
As at 1 August 2023 48,814 18,775 67,589
Provided during the period 7,836 677 8,513
As at 31 July 2024 56,650 19,452 76,102
Net Book Value
As at 31 July 2024 31,345 2,707 34,052
As at 1 August 2023 33,531 3,384 36,915
5. Stocks
2024 2023
£ £
Finished goods 947,127 1,084,443
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 162,484 149,854
Other debtors 16,161 15,725
Loan to staff member 2,338 2,338
180,983 167,917
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 364,281 600,799
Bank loans and overdrafts 147,796 296,276
Corporation tax - 12,762
Other taxes and social security 15,320 19,330
VAT 4,908 45,362
Pension control 982 927
Amounts owed to related parties 1,115,200 1,296,217
1,648,487 2,271,673
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,528 20,335
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr L Stockley by virtue of his ownership of 100% of the issued share capital in the company.
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