REGISTERED NUMBER: 05954769 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Lucy & Co (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B P Clark

N P Colleran

SECRETARY:

B P Clark

REGISTERED OFFICE:

1 Journeymans Way

Temple Farm

Industrial Estate

Southend-on-Sea

Essex

SS2 5TF

REGISTERED NUMBER:

05954769 (England and Wales)

ACCOUNTANTS:

VC Accountancy Services Ltd

Chartered Certified Accountants

21 Hillersdon Avenue

Edgware

Middlesex

HA8 7SG

FIXED ASSETS

Tangible assets

4

3,077

6,027

CURRENT ASSETS

Stocks

-

19,698

Debtors

5

1,170,973

792,395

Cash at bank

325,216

365,183

1,496,189

1,177,276

CREDITORS

Amounts falling due within one year

6

1,022,330

624,199

NET CURRENT ASSETS

473,859

553,077

TOTAL ASSETS LESS CURRENT LIABILITIES

476,936

559,104

PROVISIONS FOR LIABILITIES

7

585

1,145

NET ASSETS

476,351

557,959

CAPITAL AND RESERVES

Called up share capital

8

102

102

Retained earnings

9

476,249

557,857

SHAREHOLDERS' FUNDS

476,351

557,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 24 November 2025 and were signed on its behalf by:

B P Clark - Director

1.	STATUTORY INFORMATION

Lucy & Co (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

16,380

2,469

18,849

DEPRECIATION

At 1 January 2024

10,427

2,395

12,822

Charge for year

2,876

74

2,950

At 31 December 2024

13,303

2,469

15,772

NET BOOK VALUE

At 31 December 2024

3,077

-

3,077

At 31 December 2023

5,953

74

6,027

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

562,484

556,021

Other debtors

608,489

236,374

1,170,973

792,395

Included within other debtors is an amount of £606,014 (2023 - £233,899) which represents a loan to LERN Holdings Limited, a Company in which Mr N P Colleran is a director and 60% Shareholder. Mr B P Clark is also a director and 40% shareholder.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

893,986

480,429

Taxation and social security

121,281

137,207

Other creditors

7,063

6,563

1,022,330

624,199

7.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

585

1,145

Deferred

tax

£

Balance at 1 January 2024

1,145

Provided during year

(560

)

Balance at 31 December 2024

585

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

2

Ordinary "B"

£1

2

2

102

102

The Ordinary Class "B" shares are dividend only shares with no voting rights or rights to capital on a winding up or on a future disposal of the company.

9.

RESERVES

Retained

earnings

£

At 1 January 2024

557,857

Profit for the year

86,392

Dividends

(168,000

)

At 31 December 2024

476,249

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N P Colleran.