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Lucid Private Finance Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Lucid Private Finance Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
Lucid Private Finance Limited
Balance Sheet
As At 31 August 2024
Balance Sheet
Registered number: 12164169

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | - |  | 66
|  |  | - |  | 66
CURRENT ASSETS
Debtors | 5 | 55,388 |  | 55,311 |
Cash at bank and in hand |  | 2,506 |  | 12 |
|  | 57,894 |  | 55,323 |
Creditors: Amounts Falling Due Within One Year | 6 | (62,183 ) |  | (53,921 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (4,289 ) |  | 1,402
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | (4,289 ) |  | 1,468
Creditors: Amounts Falling Due After More Than One Year | 7 |  | (33,007 ) |  | (33,007 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | - |  | (17 )
NET LIABILITIES |  |  | (37,296 ) |  | (31,556 )
CAPITAL AND RESERVES
Called up share capital | 8 |  | 1 |  | 1
Profit and Loss Account |  |  | (37,297 ) |  | (31,557 )
SHAREHOLDERS' FUNDS |  |  | (37,296) |  | (31,556)

Page 1
Page 2
Lucid Private Finance Limited
Balance Sheet (continued)
As At 31 August 2024
For the year ending 31 August 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 A J Betts Director
20/06/2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Lucid Private Finance Limited
Notes to the Financial Statements
For The Year Ended 31 August 2024
Notes to the Financial Statements
1. General Information
Lucid Private Finance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12164169 . The registered office is Dean House, 94 Whiteladies Road, Clifton, Bristol, BS8 2QX.
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. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. 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:

Computer Equipment | 33% on cost

2.5. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors.
Short term debtors are measured at transaction price less any impairment.
Short term creditors are measured at transaction price.
Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Other financial liabilities, including borrowings are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, with interest expense recognised on an effective yield basis.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. 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 years 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.
...CONTINUED
Page 3
Page 4
Lucid Private Finance Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2024
2.7. Taxation - continued
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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 1 (2023: 1)
1 1
4. Tangible Assets

| Computer Equipment
--- | ---
| £
Cost
As at 1 September 2023 | 2,072
As at 31 August 2024 | 2,072
Depreciation
As at 1 September 2023 | 2,006
Provided during the period | 66
As at 31 August 2024 | 2,072
Net Book Value
As at 31 August 2024 | -
As at 1 September 2023 | 66

5. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 167 |  | -
Other debtors | 53,340 |  | 55,311
| 53,507 |  | 55,311
Due after more than one year
Other debtors | 1,881 |  | -
| 55,388 |  | 55,311

6. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 5,079 |  | 2,520
Bank loans and overdrafts | 10,000 |  | 10,000
Other creditors | 8,177 |  | 5,690
Taxation and social security | 38,927 |  | 35,711
| 62,183 |  | 53,921

Page 4
Page 5
Lucid Private Finance Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2024
7. Creditors: Amounts Falling Due After More Than One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Bank loans | 33,007 |  | 33,007

8. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 1 |  | 1

9. Related Party Transactions
At the year end the company was owed £24,627 (2023 - £15,098) by the director. This loan was repayable on demand and interest on it was charged at the Bank of England base rate during the year.
Page 5