LUC (UK) Limited 05701905 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is resurfacing of rollers with polyurethane and rubber Digita Accounts Production Advanced 6.30.9574.0 true 05701905 2024-01-01 2024-12-31 05701905 2024-12-31 05701905 bus:OrdinaryShareClass1 2024-12-31 05701905 core:CurrentFinancialInstruments 2024-12-31 05701905 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05701905 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 05701905 core:FurnitureFittingsToolsEquipment 2024-12-31 05701905 core:LandBuildings 2024-12-31 05701905 core:MotorVehicles 2024-12-31 05701905 core:OtherPropertyPlantEquipment 2024-12-31 05701905 core:OtherRelatedParties 2024-12-31 05701905 bus:SmallEntities 2024-01-01 2024-12-31 05701905 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05701905 bus:FilletedAccounts 2024-01-01 2024-12-31 05701905 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05701905 bus:RegisteredOffice 2024-01-01 2024-12-31 05701905 bus:CompanySecretary1 2024-01-01 2024-12-31 05701905 bus:Director2 2024-01-01 2024-12-31 05701905 bus:Director5 2024-01-01 2024-12-31 05701905 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 05701905 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05701905 core:FurnitureFittings 2024-01-01 2024-12-31 05701905 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 05701905 core:LandBuildings 2024-01-01 2024-12-31 05701905 core:MotorVehicles 2024-01-01 2024-12-31 05701905 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 05701905 core:PlantMachinery 2024-01-01 2024-12-31 05701905 core:OtherRelatedParties 2024-01-01 2024-12-31 05701905 core:OtherRelatedParties core:SaleOrPurchaseGoods 2024-01-01 2024-12-31 05701905 core:ParentEntities 2024-01-01 2024-12-31 05701905 countries:UnitedKingdom 2024-01-01 2024-12-31 05701905 2023-12-31 05701905 core:FurnitureFittingsToolsEquipment 2023-12-31 05701905 core:LandBuildings 2023-12-31 05701905 core:MotorVehicles 2023-12-31 05701905 core:OtherPropertyPlantEquipment 2023-12-31 05701905 core:OtherRelatedParties 2023-12-31 05701905 2023-01-01 2023-12-31 05701905 2023-12-31 05701905 bus:OrdinaryShareClass1 2023-12-31 05701905 core:CurrentFinancialInstruments 2023-12-31 05701905 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05701905 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 05701905 core:FurnitureFittingsToolsEquipment 2023-12-31 05701905 core:LandBuildings 2023-12-31 05701905 core:MotorVehicles 2023-12-31 05701905 core:OtherPropertyPlantEquipment 2023-12-31 05701905 core:OtherRelatedParties 2023-12-31 05701905 core:OtherRelatedParties 2023-01-01 2023-12-31 05701905 core:OtherRelatedParties core:SaleOrPurchaseGoods 2023-01-01 2023-12-31 05701905 2022-12-31 05701905 core:OtherRelatedParties 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05701905

LUC (UK) Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2024

 

LUC (UK) Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

LUC (UK) Limited

Company Information

Directors

Ms SALM Krutzen Winkens

Mr CHM Krutzen

Company secretary

Mr AJM Huisman

Registered office

Goat Mill Road
Dowlais
Merthyr Tydfil
CF48 3TD

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

LUC (UK) Limited

(Registration number: 05701905)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

722,662

756,089

Current assets

 

Stocks

5

167,867

224,050

Debtors

641,194

570,587

Cash at bank and in hand

 

52,805

117,875

 

861,866

912,512

Prepayments and accrued income

 

6,971

6,266

Creditors: Amounts falling due within one year

(220,385)

(209,723)

Net current assets

 

648,452

709,055

Total assets less current liabilities

 

1,371,114

1,465,144

Creditors: Amounts falling due after more than one year

(27,291)

(235,331)

Provisions for liabilities

(25,610)

(18,190)

Accruals and deferred income

 

(10,276)

(18,306)

Net assets

 

1,307,937

1,193,317

Capital and reserves

 

Called up share capital

6

250,002

250,002

Retained earnings

1,057,935

943,315

Shareholders' funds

 

1,307,937

1,193,317

 

LUC (UK) Limited

(Registration number: 05701905)
Abridged Balance Sheet as at 31 December 2024

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 April 2025 and signed on its behalf by:
 

.........................................

Ms SALM Krutzen Winkens
Director

.........................................

Mr CHM Krutzen
Director

 

LUC (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Goat Mill Road
Dowlais
Merthyr Tydfil
CF48 3TD

These financial statements were authorised for issue by the Board on 8 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

LUC (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Straight line over 50 years

Plant and machinery

10% straight line

Furniture, fittings and equipment

10% straight line

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

LUC (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 13).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

859,469

75,220

64,598

670,951

1,670,238

Additions

-

-

5,205

4,960

10,165

At 31 December 2024

859,469

75,220

69,803

675,911

1,680,403

Depreciation

At 1 January 2024

255,350

73,285

42,040

543,474

914,149

Charge for the year

17,190

360

8,561

17,481

43,592

At 31 December 2024

272,540

73,645

50,601

560,955

957,741

Carrying amount

At 31 December 2024

586,929

1,575

19,202

114,956

722,662

At 31 December 2023

604,118

1,936

22,558

127,477

756,089

Included within the net book value of land and buildings above is £586,929 (2023 - £604,118) in respect of freehold land and buildings.
 

 

LUC (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

5

Stocks

2024
£

2023
£

Raw materials and consumables

108,119

187,415

Finished goods and goods for resale

59,748

36,635

167,867

224,050

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

250,002

250,002

250,002

250,002

       
 

LUC (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

7

Related party transactions

Summary of transactions with parent

Globaluc BV is the holding company of LUC (UK) Limited holding 100% of the called up share capital.

The previous holding company was Euroluc NV

 

Summary of transactions with other related parties

Other related parties comprise entities under common control and ownership.

 Interluc BV provides the company with a facility to draw from to support day to day working capital requirements. Interest is paid to Interluc BV at a rate of 1% on an annual basis based on the amount drawn by LUC (UK) Limited.

LUC (UK) Limited sold and purchased goods from these related parties throughout the year. The related party companies also provide a facility for LUC (UK) Limited to draw against to support the day to day working capital requirements. Interest is paid to these related parties at a rate of 1% on a annual basis based on the amount drawn by LUC (UK) Limited.

 

Expenditure with and payables to related parties

2024

Other related parties
£

Purchase of goods

235,853

2023

Other related parties
£

Purchase of goods

521,409

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

235,331

235,331

Repaid

(208,154)

(208,154)

Interest transactions

114

114

At end of period

27,291

27,291

 

LUC (UK) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

2023

Other related parties
£

Total
£

At start of period

378,080

378,080

Repaid

(145,475)

(145,475)

Interest transactions

2,726

2,726

At end of period

235,331

235,331