REGISTERED NUMBER: 05549514 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

LUCIDICA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T Jeffs

REGISTERED OFFICE:

Unit 219, Brickfields

37 Cremer Street

London

E2 8HD

REGISTERED NUMBER:

05549514 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

FIXED ASSETS

Intangible assets

4

94,329

101,184

Tangible assets

5

10,286

13,298

Investments

6

65,035

27,342

169,650

141,824

CURRENT ASSETS

Stocks

3,307

3,307

Debtors

7

64,814

144,347

Cash at bank

83,341

76,591

151,462

224,245

CREDITORS

Amounts falling due within one year

8

295,784

354,987

NET CURRENT LIABILITIES

(144,322

)

(130,742

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,328

11,082

CAPITAL AND RESERVES

Called up share capital

9

4,884

6,884

Share premium

2,775

2,775

Retained earnings

17,669

1,423

SHAREHOLDERS' FUNDS

25,328

11,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 May 2026 and were signed by:

T Jeffs - Director

1.	STATUTORY INFORMATION

Lucidica Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Development costs incurred in respect of research and development for clearly defined projects whose outcome can be assessed with reasonable certainty are capitalised as intangible fixed assets where they are separately identifiable. These projects are considered to have a reasonable expectation that they will be technically feasible and commercially viable.

Expenditure on research and development is written off in the year in which it is incurred, unless expenditure relates to a clearly defined project and the outcome of the project is expected to be technically viable.

Development expenditure is capitalised if the development phase is longer then twelve months, the asset is technically and commercially feasible and future economic benefits are probable. Amortisation commences once the relevant asset is fully operating.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Motor vehicles - 33% on cost

Fixtures and fittings - 25% on cost

Plant and machinery - 25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 June 2024

243,000

86,984

329,984

Additions

-

13,145

13,145

At 31 May 2025

243,000

100,129

343,129

AMORTISATION

At 1 June 2024

208,800

20,000

228,800

Charge for year

20,000

-

20,000

At 31 May 2025

228,800

20,000

248,800

NET BOOK VALUE

At 31 May 2025

14,200

80,129

94,329

At 31 May 2024

34,200

66,984

101,184

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2024

267,015

Additions

4,534

At 31 May 2025

271,549

DEPRECIATION

At 1 June 2024

253,717

Charge for year

7,546

At 31 May 2025

261,263

NET BOOK VALUE

At 31 May 2025

10,286

At 31 May 2024

13,298

6.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 June 2024

1

27,341

27,342

Additions

-

37,693

37,693

At 31 May 2025

1

65,034

65,035

NET BOOK VALUE

At 31 May 2025

1

65,034

65,035

At 31 May 2024

1

27,341

27,342

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

27,861

125,342

Other debtors

36,953

19,005

64,814

144,347

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans and overdrafts

14,450

26,278

Trade creditors

17,358

43,773

Taxation and social security

91,347

89,345

Other creditors & accruals

172,629

195,591

295,784

354,987

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal Value:

£

4,500,000

Ordinary

£0.001

4,500

500,000

A Ordinary Shares

£0.001

500

98,828

B Ordinary Shares

£0.001

99

500,000

C Ordinary Shares

£0.001

500

1,000,000

D Ordinary Shares

£0.001

1,000

35,000

E Ordinary Shares

£0.001

285

6,884

=======

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2025 and 31 May 2024:

31.5.25

31.5.24

£

£

T Jeffs

Balance outstanding at start of year

(20,560

)

-

Amounts advanced

12,648

-

Amounts repaid

-

(20,560

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(7,912

)

(20,560

)

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T Jeffs.