Registration number:
Lucking Group Limited
for the Year Ended 31 March 2020
Lucking Group Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Lucking Group Limited
Company Information
Directors |
D A Lucking S Lucking K R Lucking P J Lucking |
Registered office |
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Accountants |
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Lucking Group Limited
(Registration number: 02580494)
Balance Sheet as at 31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Profit and loss account |
8,397 |
14,651 |
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Shareholders' funds |
9,397 |
15,651 |
For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
Approved and authorised by the
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Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
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
Going concern
We have paid particular attention to the likely effects on the business of the current Covid-19 outbreak and the directors remain confident that sufficient funding is in place and that the company has adequate resources to enable it to continue as a going concern for the foreseeable future.
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.
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
2 |
Accounting policies (continued) |
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:
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.
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
2 |
Accounting policies (continued) |
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
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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Disposals |
( |
( |
At 31 March 2020 |
- |
- |
Depreciation |
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At 1 April 2019 |
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Eliminated on disposal |
( |
( |
At 31 March 2020 |
- |
- |
Carrying amount |
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At 31 March 2020 |
- |
- |
Investments |
2020 |
2019 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2019 |
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Provision |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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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:
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
5 |
Investments (continued) |
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2020 |
2019 |
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Subsidiary undertakings |
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England & Wales |
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England & Wales |
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Subsidiary undertakings |
Lucking Brothers Limited The principal activity of Lucking Brothers Limited is |
Lucking Developments Limited The principal activity of Lucking Developments Limited is |
Debtors |
2020 |
2019 |
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Amounts owed by group undertakings |
- |
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Prepayments |
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- |
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Creditors |
2020 |
2019 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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- |
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Taxation and social security |
- |
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Accruals and deferred income |
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Corporation tax |
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Directors loan accounts |
10,323 |
9,476 |
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Share capital |
Allotted, called up and fully paid shares
Lucking Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
8 |
Share capital (continued) |
2020 |
2019 |
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No. |
£ |
No. |
£ |
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970 |
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970 |
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30 |
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30 |
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Dividends |
Interim dividends paid
2020 |
2019 |
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Interim dividend of £
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Ultimate controlling party |
The ultimate controlling party is