19 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09714727 2023-09-01 2024-08-30 09714727 2024-08-30 09714727 2023-08-31 09714727 2022-09-01 2023-08-31 09714727 2023-08-31 09714727 2022-08-31 09714727 core:LandBuildings core:ShortLeaseholdAssets 2023-09-01 2024-08-30 09714727 bus:Director1 2023-09-01 2024-08-30 09714727 core:LandBuildings 2023-08-31 09714727 core:LandBuildings 2024-08-30 09714727 core:LandBuildings 2023-09-01 2024-08-30 09714727 core:WithinOneYear 2024-08-30 09714727 core:WithinOneYear 2023-08-31 09714727 core:AfterOneYear 2024-08-30 09714727 core:AfterOneYear 2023-08-31 09714727 core:ShareCapital 2024-08-30 09714727 core:ShareCapital 2023-08-31 09714727 core:RetainedEarningsAccumulatedLosses 2024-08-30 09714727 core:RetainedEarningsAccumulatedLosses 2023-08-31 09714727 core:LandBuildings 2023-08-31 09714727 bus:SmallEntities 2023-09-01 2024-08-30 09714727 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-30 09714727 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-30 09714727 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-30 09714727 bus:FullAccounts 2023-09-01 2024-08-30 09714727 core:OfficeEquipment 2023-09-01 2024-08-30
COMPANY REGISTRATION NUMBER: 09714727
Lulham Ltd.
Filleted Unaudited Financial Statements
30 August 2024
Lulham Ltd.
Statement of Financial Position
30 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
48,700
59,409
Current assets
Stocks
6,000
6,000
Debtors
6
42,160
30,805
Cash at bank and in hand
2,006
3,317
--------
--------
50,166
40,122
Creditors: amounts falling due within one year
7
195,564
143,078
---------
---------
Net current liabilities
145,398
102,956
---------
---------
Total assets less current liabilities
( 96,698)
( 43,547)
Creditors: amounts falling due after more than one year
8
14,992
25,260
Provisions
Taxation including deferred tax
( 27,112)
( 17,695)
--------
--------
Net liabilities
( 84,578)
( 51,112)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 84,678)
( 51,212)
--------
--------
Shareholder deficit
( 84,578)
( 51,112)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Lulham Ltd.
Statement of Financial Position (continued)
30 August 2024
These financial statements were approved by the board of directors and authorised for issue on 28 August 2025 , and are signed on behalf of the board by:
Mr G Lulham
Director
Company registration number: 09714727
Lulham Ltd.
Notes to the Financial Statements
Period ended 30 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is c/o Sin City Nightclub, 14/16 Dillwyn Street, City Centre, Swansea, SA1 4AQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property improvements
-
4% straight line
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 19 (2023: 25 ).
5. Tangible assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 1 September 2023
9,530
145,485
155,015
Additions
3,110
3,110
-------
---------
---------
At 30 August 2024
9,530
148,595
158,125
-------
---------
---------
Depreciation
At 1 September 2023
762
94,844
95,606
Charge for the period
381
13,438
13,819
-------
---------
---------
At 30 August 2024
1,143
108,282
109,425
-------
---------
---------
Carrying amount
At 30 August 2024
8,387
40,313
48,700
-------
---------
---------
At 31 August 2023
8,768
50,641
59,409
-------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
4,707
1,723
Other debtors
37,453
29,082
--------
--------
42,160
30,805
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
17,456
11,317
Trade creditors
19,905
12,631
Social security and other taxes
137,619
83,037
Other creditors
20,584
36,093
---------
---------
195,564
143,078
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,992
25,260
--------
--------
In 2020 the company received a £50,000 bounce back loan with an interest rate of 2.5% per annum. The loan is for 6 years with the first 12 months interest paid by the UK Government.