Lumea Ltd

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 11

Lumea Ltd

Company Information

Director

Mr Alexander Mungo Muirhead

Registered office

Unit 2 Hartnoll Business Centre Post Hill Tiverton Devon EX16 4NG

Accountants

Withers Steele Limited 6 Oaklands Court Tiverton Way Tiverton Devon EX16 6TG

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Lumea Ltd
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lumea Ltd for the year ended 31 March 2025 as set out on pages 3 to 11 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 Lumea Ltd, 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 Lumea Ltd and state those matters that we have agreed to state to the Board of Directors of Lumea Ltd, 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 Lumea Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lumea Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lumea Ltd. You consider that Lumea Ltd 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 Lumea Ltd. 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.

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

Withers Steele Limited
6 Oaklands Court
Tiverton Way
Tiverton
Devon
EX16 6TG

8 December 2025

Lumea Ltd

(Registration number: 04314723)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	1,113,248	1,456,029
Other financial assets	6	-	25,000
		1,113,248	1,481,029
Current assets
Stocks	7	543,090	412,975
Debtors	8	495,107	501,731
Cash at bank and in hand		570,076	559,458
		1,608,273	1,474,164
Creditors: Amounts falling due within one year	9	(184,401)	(220,603)
Net current assets		1,423,872	1,253,561
Total assets less current liabilities		2,537,120	2,734,590
Creditors: Amounts falling due after more than one year	9	(398,140)	(398,140)
Provisions for liabilities		(1,011)	(814)
Net assets		2,137,969	2,335,636
Capital and reserves
Called up share capital		2	2
Retained earnings		2,137,967	2,335,634
Shareholders' funds		2,137,969	2,335,636

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

Approved and authorised by the director on 5 December 2025
 

......................................... Mr Alexander Mungo Muirhead Director

Lumea Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

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

The address of its registered office is:
Unit 2 Hartnoll Business Centre
Post Hill
Tiverton
Devon
EX16 4NG
England

These financial statements were authorised for issue by the director on 5 December 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.

Lumea Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 8 December 2025 was , who signed for and on behalf of .

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

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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:

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:

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.

Lumea Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

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.

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.

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.

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

Lumea Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 the director) during the year, was 8 (2024 - 8).

Lumea Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
At 1 April 2024	5,000	5,000
At 31 March 2025	5,000	5,000
Amortisation
At 1 April 2024	5,000	5,000
At 31 March 2025	5,000	5,000
Carrying amount
At 31 March 2025	-	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £
Cost or valuation
At 1 April 2024	1,413,839	11,960	122,200	22,892
Revaluations	(311,805)	-	-	-
Additions	-	2,684	-	-
Disposals	-	-	(109,500)	-
At 31 March 2025	1,102,034	14,644	12,700	22,892
Depreciation
At 1 April 2024	4,904	10,494	85,692	13,772
Charge for the year	1,915	1,013	2,381	1,368
Eliminated on disposal	-	-	(82,517)	-
At 31 March 2025	6,819	11,507	5,556	15,140
Carrying amount
At 31 March 2025	1,095,215	3,137	7,144	7,752
At 31 March 2024	1,408,935	1,466	36,508	9,120

Lumea Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

	Total £
Cost or valuation
At 1 April 2024	1,570,891
Revaluations	(311,805)
Additions	2,684
Disposals	(109,500)
At 31 March 2025	1,152,270
Depreciation
At 1 April 2024	114,862
Charge for the year	6,677
Eliminated on disposal	(82,517)
At 31 March 2025	39,022
Carrying amount
At 31 March 2025	1,113,248
At 31 March 2024	1,456,029

Included within the net book value of land and buildings above is £1,095,214 (2024 - £1,408,934) in respect of freehold land and buildings.
 

Lumea Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

6	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2024	25,000	25,000
Additions	1,042	1,042
Disposals	(26,042)	(26,042)
At 31 March 2025	-	-
Impairment
Carrying amount
At 31 March 2025	-	-

7

Stocks

	2025 £	2024 £
Other inventories	543,090	412,975

8

Debtors

Current	2025 £	2024 £
Trade debtors	363,795	358,811
Prepayments	131,312	142,920
	495,107	501,731

9

Creditors

Creditors: amounts falling due within one year

Lumea Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	-	951
Trade creditors		66,611	56,387
Taxation and social security		115,790	161,265
Accruals and deferred income		2,000	2,000
		184,401	220,603

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	398,140	398,140

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	398,140	398,140

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	-	951