Registration number:
Lucking Group Limited
for the Year Ended 31 March 2019
Ashcombe Court
Woolsack Way
Godalming
Surrey
GU7 1LQ
Lucking Group Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Lucking Group Limited
Company Information
Directors |
D A Lucking S Lucking K R Lucking P J Lucking |
Registered office |
|
Accountants |
|
Page 1 |
Lucking Group Limited
(Registration number: 02580494)
Balance Sheet as at 31 March 2019
Note |
2019 |
2018 |
|
Fixed assets |
|||
Tangible assets |
- |
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
- |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 2 |
Lucking Group Limited
(Registration number: 02580494)
Balance Sheet as at 31 March 2019
Approved and authorised by the
|
Page 3 |
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office and principal place of business is:
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Group accounts not prepared
Revenue recognition
Turnover relates to fees and recharges for services provided to group companies. Revenue is recognised in the period in which the relevant services were provided.
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 statement of financial position 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.
Page 4 |
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
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:
Asset class |
Depreciation method and rate |
Motor vehicles |
25% on reducing balance |
Computer equipment |
25% on cost |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
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 less any 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. If an asset is impaired, the impairment loss is measured as the difference between the carrying amount and the amount expected to be received.
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.
Page 5 |
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
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 an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Summary of significant judgements and key accounting estimates
There are no significant judgements or sources of key accounting estimates that have been applied in the preparation of these financial statements.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 6 |
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Tangible assets |
Computer equipment |
Motor vehicles |
Total |
|
Cost or valuation |
|||
At 1 April 2018 |
|
|
|
Disposals |
- |
( |
( |
At 31 March 2019 |
|
- |
|
Depreciation |
|||
At 1 April 2018 |
|
|
|
Charge for the year |
- |
|
|
Eliminated on disposal |
- |
( |
( |
At 31 March 2019 |
|
- |
|
Carrying amount |
|||
At 31 March 2019 |
- |
- |
- |
At 31 March 2018 |
- |
|
|
Motor vehicles are held under finance leases with a carrying amount of £- (2018: £65,990)
Investments |
2019 |
2018 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 April 2018 |
|
Provision |
|
Carrying amount |
|
At 31 March 2019 |
|
At 31 March 2018 |
|
Page 7 |
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2019 |
2018 |
Subsidiary undertakings |
||||
|
England & Wales |
Ordinary |
|
|
|
England & Wales |
Ordinary |
|
|
The principal activity of Lucking Brothers Limited is |
The principal activity of Lucking Developments Limited is |
Debtors |
2019 |
2018 |
||
Amounts owed by group undertakings |
|
|
|
Prepayments |
- |
|
|
|
|
Page 8 |
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Creditors |
2019 |
2018 |
||
Due within one year |
|||
Finance lease liabilities |
- |
|
|
Trade creditors |
|
|
|
Amounts owed to group undertakings |
- |
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Corporation tax |
|
|
|
Directors loan accounts |
9,476 |
14,570 |
|
Other creditors |
- |
1,513 |
|
|
|
2019 |
2018 |
||
Due after one year |
|||
Finance lease liabilities |
- |
|
Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
|||
No. |
£ |
No. |
£ |
|
|
|
970 |
|
970 |
|
|
30 |
|
30 |
|
|
|
|
Dividends |
Interim dividends paid
2019 |
2018 |
|
Interim dividend of £
|
|
|
Page 9 |
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Ultimate controlling party |
The ultimate controlling party is
Page 10 |