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COMPANY REGISTRATION NUMBER: 06818644

Lucid Capital Ltd

Filleted Unaudited Financial Statements

28 February 2025

Lucid Capital Ltd

Balance Sheet

28 February 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Investments | 4 |  | 750 | 750

Current assets

Debtors | 5 | 181,439 |  | 174,288
Cash at bank and in hand | 12 |  | 19
| --------- |  | ---------
| 181,451 |  | 174,307

Creditors: amounts falling due within one year | 6 | 511,233 |  | 503,232
| --------- |  | ---------
Net current liabilities |  | 329,782 | 328,925
|  | --------- | ---------
Total assets less current liabilities |  | ( 329,032) | ( 328,175)
|  | --------- | ---------
Net liabilities |  | ( 329,032) | ( 328,175)
|  | --------- | ---------

Capital and reserves

Called up share capital |  | 111 | 111
Profit and loss account |  | ( 329,143) | ( 328,286)
|  | --------- | ---------
Shareholders deficit |  | ( 329,032) | ( 328,175)
|  | --------- | ---------

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 comprehensive income (including profit and loss account) has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year 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 .

Lucid Capital Ltd

Balance Sheet (continued)

28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 31 October 2025 , and are signed on behalf of the board by:
Mr J N Plews Director
Company registration number: 06818644

Lucid Capital Ltd

Notes to the Financial Statements

Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Birchin Lane, 2nd Floor, London, EC3V 9DU.
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.
Going concern
The directors have received assurances from the shareholder that the loan received will continue as required and therefore consider the company to be a going concern. The financial statements have been prepared on the going concern basis.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no material judgements, estimates or assumptions.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments

| Shares in group undertakings
| £
Cost |
At 1 March 2024 and 28 February 2025 | 750
| ----
Impairment |
At 1 March 2024 and 28 February 2025 | –
| ----

Carrying amount |
At 28 February 2025 | 750
| ----
At 29 February 2024 | 750
| ----

The company owns 750 of the 950 issued shares in Lucid Legal Ltd. For year ended 29 February 2024, Lucid Legal Ltd made a profit of £103,019 and as at 29 February 2024 the aggregate capital and reserves totalled a deficit of £228,763.
5. Debtors

| 2025 | 2024
| £ | £
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 181,439 | 174,288
| --------- | ---------

Including within other debtors is £181,439 owed by the subsidiary, which is not expected to be received before 28 February 2025.
6. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 510,933 | 502,932
Other creditors | 300 | 300
| --------- | ---------
| 511,233 | 503,232
| --------- | ---------

7. Related party transactions
During the year a further £7,999 was advanced in respect of the loan from Mr M Weaver, who owns 500 of the 1,111 issued shares. As at 28 February 2025 £510,933 (2024 £502,932) was still outstanding. During the year the subsidiary, Lucid Legal Ltd, made payments totalling £384 on behalf of this company, and also £7,535 was advanced, increasing the amount repayable in respect of the loan. As at 28 February 2025 £181,439 (2024 £174,288) is owed to the company.
8. Reserves
The only movement in reserves during the year was in respect of the loss for the year.