REGISTERED NUMBER: 10432697 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2024

for

Lucy Grewar Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L Atyeo

REGISTERED OFFICE:

Flat 16 Hansom Hall

44 Thomas Street, St. Pauls

Bristol

BS2 9LL

REGISTERED NUMBER:

10432697 (England and Wales)

ACCOUNTANTS:

Verinder Powell Associates Ltd

Suite 5 Corum 2

Corum Office Park

Crown Way

Warmley

Bristol

BS30 8FJ

FIXED ASSETS

Tangible assets

4

61,241

87,185

CURRENT ASSETS

Debtors

5

43,443

44,647

Cash at bank

26,075

5,182

69,518

49,829

CREDITORS

Amounts falling due within one year

6

63,287

53,878

NET CURRENT ASSETS/(LIABILITIES)

6,231

(4,049

)

TOTAL ASSETS LESS CURRENT LIABILITIES

67,472

83,136

CREDITORS

Amounts falling due after more than one year

7

(65,368

)

(74,010

)

PROVISIONS FOR LIABILITIES

(1,721

)

(5,114

)

NET ASSETS

383

4,012

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

382

4,011

383

4,012

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 19 June 2025 and were signed by:

L Atyeo - Director

1.	STATUTORY INFORMATION

Lucy Grewar Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Tangible fixed assets

Tangible fixed 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 is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

- 25% on cost

Motor vehicles

- 25% on cost

Computer equipment

- 25% on cost

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Finance income and costs policy

Interest income and expenses are recognised using the effective interest rate method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2023

and 31 October 2024

8,671

83,833

11,542

104,046

DEPRECIATION

At 1 November 2023

1,925

8,733

6,203

16,861

Charge for year

2,168

20,958

2,818

25,944

At 31 October 2024

4,093

29,691

9,021

42,805

NET BOOK VALUE

At 31 October 2024

4,578

54,142

2,521

61,241

At 31 October 2023

6,746

75,100

5,339

87,185

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Trade debtors

19,872

18,144

Other debtors

23,571

26,503

43,443

44,647

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans and overdrafts

6,538

6,260

Hire purchase contracts

11,920

11,921

Taxation and social security

41,829

26,097

Other creditors

3,000

9,600

63,287

53,878

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.24

31.10.23

£

£

Bank loans

5,664

12,202

Hire purchase contracts

59,704

61,808

65,368

74,010

Included in bank loans in notes 6 and 7 is a balance of £12,202 (2023 - £18,462) which is guaranteed by the government and unsecured.

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.24

31.10.23

£

£

Hire purchase contracts

71,624

73,729

The hire purchase contracts are secured on the assets to which they relate.

9.	RELATED PARTY DISCLOSURES

Loans from related parties

Key management

Total

2024

£

£

At start of period

5,960

5,960

Advanced

66,670

66,670

Repaid

(72,630

)

(72,630

)

At end of period

-

-

Key management

Total

2023

£

£

At start of period

16,023

16,023

Advanced

93,079

93,079

Repaid

(103,142

)

(103,142

)

At end of period

5,960

5,960

Loans from key management are interest free and repayable on demand.

Loans to related parties

Key management

Total

2024

£

£

At start of period

-

-

Advanced

16,581

16,581

Repaid

-

-

At end of period

16,581

16,581

Key management

Total

2023

£

£

At start of period

-

-

Advanced

-

-

Repaid

-

-

At end of period

-

-

Loans to key management are repayable on demand and interest is charged at the HMRC prevailing rate on overdrawn balances which exceed £10,000.