Acorah Software Products - Accounts Production 16.4.675 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 06436747 Mr Christopher Tulk Mr Christopher Tulk Mr C Tulk true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06436747 2023-11-30 06436747 2024-11-30 06436747 2023-12-01 2024-11-30 06436747 frs-core:CurrentFinancialInstruments 2024-11-30 06436747 frs-core:Non-currentFinancialInstruments 2024-11-30 06436747 frs-core:BetweenOneFiveYears 2024-11-30 06436747 frs-core:ComputerEquipment 2024-11-30 06436747 frs-core:ComputerEquipment 2023-12-01 2024-11-30 06436747 frs-core:ComputerEquipment 2023-11-30 06436747 frs-core:FurnitureFittings 2024-11-30 06436747 frs-core:FurnitureFittings 2023-12-01 2024-11-30 06436747 frs-core:FurnitureFittings 2023-11-30 06436747 frs-core:MotorVehicles 2024-11-30 06436747 frs-core:MotorVehicles 2023-12-01 2024-11-30 06436747 frs-core:MotorVehicles 2023-11-30 06436747 frs-core:PlantMachinery 2024-11-30 06436747 frs-core:PlantMachinery 2023-12-01 2024-11-30 06436747 frs-core:PlantMachinery 2023-11-30 06436747 frs-core:WithinOneYear 2024-11-30 06436747 frs-core:ShareCapital 2024-11-30 06436747 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 06436747 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 06436747 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 06436747 frs-bus:SmallEntities 2023-12-01 2024-11-30 06436747 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 06436747 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 06436747 1 2023-12-01 2024-11-30 06436747 frs-bus:Director1 2023-12-01 2024-11-30 06436747 frs-bus:CompanySecretary1 2023-12-01 2024-11-30 06436747 frs-core:CurrentFinancialInstruments 1 2024-11-30 06436747 frs-countries:EnglandWales 2023-12-01 2024-11-30 06436747 2022-11-30 06436747 2023-11-30 06436747 2022-12-01 2023-11-30 06436747 frs-core:CurrentFinancialInstruments 2023-11-30 06436747 frs-core:Non-currentFinancialInstruments 2023-11-30 06436747 frs-core:BetweenOneFiveYears 2023-11-30 06436747 frs-core:WithinOneYear 2023-11-30 06436747 frs-core:ShareCapital 2023-11-30 06436747 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 06436747 frs-core:CurrentFinancialInstruments 1 2023-11-30
Registered number: 06436747
Luck Trading Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06436747
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,617 8,200
33,617 8,200
CURRENT ASSETS
Stocks 5 29,407 29,202
Debtors 6 49,096 36,298
Cash at bank and in hand 14,777 32,270
93,280 97,770
Creditors: Amounts Falling Due Within One Year 7 (70,296 ) (80,491 )
NET CURRENT ASSETS (LIABILITIES) 22,984 17,279
TOTAL ASSETS LESS CURRENT LIABILITIES 56,601 25,479
Creditors: Amounts Falling Due After More Than One Year 8 (27,141 ) (8,947 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,387 ) (1,558 )
NET ASSETS 23,073 14,974
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 22,973 14,874
SHAREHOLDERS' FUNDS 23,073 14,974
Page 1
Page 2
For the year ending 30 November 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 Profit and Loss Account.
On behalf of the board
Mr Christopher Tulk
Director
20/08/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Luck Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06436747 . The registered office is Unit 2d Holme Lacy Road, Hereford, HR2 6BQ.
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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Plant & Machinery 25% RBM
Motor Vehicles 25% RBM
Fixtures & Fittings 25% RBM
Computer Equipment 33.33% SLM
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 profit and loss account 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 the profit and loss account 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.
Page 3
Page 4
2.6. 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 year 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.
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 asset reflects 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: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2023 48,233 - 1,594 873 50,700
Additions - 33,282 - 950 34,232
Disposals (30,796 ) - - - (30,796 )
As at 30 November 2024 17,437 33,282 1,594 1,823 54,136
Depreciation
As at 1 December 2023 40,641 - 1,374 485 42,500
Provided during the period 1,897 4,715 55 379 7,046
Disposals (29,027 ) - - - (29,027 )
As at 30 November 2024 13,511 4,715 1,429 864 20,519
Net Book Value
As at 30 November 2024 3,926 28,567 165 959 33,617
As at 1 December 2023 7,592 - 220 388 8,200
5. Stocks
2024 2023
£ £
Stock 29,407 29,202
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 48,438 35,939
Prepayments and accrued income 658 359
49,096 36,298
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,044 -
Trade creditors 45,983 51,557
Bank loans and overdrafts 6,225 6,072
Corporation tax - 5,285
Other taxes and social security 823 823
VAT 2,826 1,642
Pension payable 30 30
Accruals and deferred income 9,650 9,674
Director's loan account 715 5,408
70,296 80,491
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,339 -
Bank loans 2,802 8,947
27,141 8,947
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,044 -
Later than one year and not later than five years 24,339 -
28,383 -
28,383 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
Included within Creditors: Amounts falling due within one year is £715 owing to the Director (2023: £5,408).
Page 5
Page 6
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr C Tulk by virtue of his ownership of 100% of the issued share capital in the company.
Page 6