Registration number: 12343976 (England and Wales)

Lucid Innovate Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 7

Lucid Innovate Limited

Company Information

Director

Mr Robert Small

Registered office

7 Greencourt Road Petts Wood Kent BR5 1QL

Accountants

Howells & Co Chartered Accountants 1A Knowland Drive Milford on Sea Lymington SO41 0RH

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Lucid Innovate Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lucid Innovate Limited for the year ended 31 December 2024 as set out on pages 3 to 7 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 Lucid Innovate Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lucid Innovate Limited and state those matters that we have agreed to state to the Board of Directors of Lucid Innovate 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 Lucid Innovate Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lucid Innovate 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 results of Lucid Innovate Limited. You consider that Lucid Innovate 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 Lucid Innovate 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.

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

Howells & Co
Chartered Accountants
1A Knowland Drive
Milford on Sea
Lymington
SO41 0RH

26 September 2025

Lucid Innovate Limited

(Registration number: 12343976)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Current assets
Debtors	5	387	387
Cash at bank and in hand		38	38
		425	425
Creditors: Amounts falling due within one year	6	(1,044)	(1,044)
Net liabilities		(619)	(619)
Capital and reserves
Called up share capital	7	100	100
Retained earnings		(719)	(719)
Shareholders' deficit		(619)	(619)

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.

Director's 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 director acknowledges his 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 September 2025
 

......................................... Mr Robert Small Director

Lucid Innovate Limited

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

1	General information

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

The address of its registered office is:
7 Greencourt Road
Petts Wood
Kent
BR5 1QL

These financial statements were authorised for issue by the director on 26 September 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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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
Office equipment	50% straight line basis

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.

Lucid Innovate Limited

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

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.

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 the director) during the year, was 1 (2023 - 1).

Lucid Innovate Limited

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

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	75	75
At 31 December 2024	75	75
Depreciation
At 1 January 2024	75	75
At 31 December 2024	75	75
Carrying amount
At 31 December 2024	-	-

5

Debtors

Current	2024 £	2023 £
Trade debtors	373	373
Other debtors	14	14
	387	387

Lucid Innovate Limited

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

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Taxation and social security	3	3
Other creditors	1,041	1,041
	1,044	1,044

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100