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Registration number: 10618356

Lenticularis Limited

Unaudited Financial Statements

28 February 2025

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Lenticularis Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lenticularis Limited
for the Year Ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lenticularis Limited for the year ended 28 February 2025 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Lenticularis Limited, as a body, in accordance with the terms of our engagement letter dated 21 March 2023. Our work has been undertaken solely to prepare for your approval the accounts of Lenticularis Limited and state those matters that we have agreed to state to the Board of Directors of Lenticularis Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lenticularis Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lenticularis Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Lenticularis Limited. You consider that Lenticularis Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Lenticularis Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

22 July 2025

 

Lenticularis Limited

(Registration number: 10618356)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

22,167

31,667

Tangible assets

5

52,928

52,585

 

75,095

84,252

Current assets

 

Stocks

2,000

2,000

Debtors

6

38,992

25,391

Cash at bank and in hand

 

5,806

17,595

 

46,798

44,986

Creditors: Amounts falling due within one year

7

(632,380)

(609,645)

Net current liabilities

 

(585,582)

(564,659)

Net liabilities

 

(510,487)

(480,407)

Capital and reserves

 

Allotted, called up and fully paid share capital

2

2

Profit and loss account

(510,489)

(480,409)

Total equity

 

(510,487)

(480,407)

 

Lenticularis Limited

(Registration number: 10618356)
Balance Sheet as at 28 February 2025 (continued)

For the financial year ending 28 February 2025 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 and 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 22 July 2025 and signed on its behalf by:
 

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

C Bray

Director

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

E Bray

Director

 

Lenticularis Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The principal place of business is:
Greenrow
Penruddock
PENRITH
CA11 0SA

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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.

The company has net liabilities at 28 February 2025. The directors have provided financial support by way of short term loans. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its directors, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

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 sales/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.

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.

 

Lenticularis Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

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

Plant and equipment

25% reducing balance

Office equipment

33% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% 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 the sale of goods 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.

 

Lenticularis Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2024 - 29).

 

Lenticularis Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2024

95,000

95,000

At 28 February 2025

95,000

95,000

Amortisation

At 1 March 2024

63,333

63,333

Amortisation charge

9,500

9,500

At 28 February 2025

72,833

72,833

Carrying amount

At 28 February 2025

22,167

22,167

At 29 February 2024

31,667

31,667

5

Tangible assets

Plant and equipment
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 March 2024

196,726

6,474

203,200

Additions

17,785

-

17,785

At 28 February 2025

214,511

6,474

220,985

Depreciation

At 1 March 2024

146,989

3,627

150,616

Charge for the year

15,991

1,450

17,441

At 28 February 2025

162,980

5,077

168,057

Carrying amount

At 28 February 2025

51,531

1,397

52,928

At 29 February 2024

49,738

2,847

52,585

 

Lenticularis Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

6

Debtors

2025
£

2024
£

Trade debtors

1,417

2,865

Other debtors

37,575

22,526

38,992

25,391

7

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

463,867

453,007

Trade creditors

 

123,901

112,576

Taxation and social security

 

23,837

22,556

Other creditors

 

20,775

21,506

 

632,380

609,645

8

Loans and borrowings

2025
£

2024
£

Current loans and borrowings

Other borrowings

463,867

453,007

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £88,667 (2024 - £126,667). This relates to the lease of the business premises, of which 2 years and 4 months are remaining.

10

Transition to FRS 102

For the year ended 28 February 2025 the company is no longer eligible to prepare financial statements in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'. As such the financial statements have been prepared in accordance with FRS 102, involving a full retrospective restatement of assets and liabilities from the transition date, 1 March 2023. No transition adjustments were required.