ACCOUNTS - Final Accounts

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-3122022-06-01falseWholesale retail2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13381385 2022-06-01 2023-05-31 13381385 2021-05-07 2022-05-31 13381385 2023-05-31 13381385 2022-05-31 13381385 c:Director2 2022-06-01 2023-05-31 13381385 d:OfficeEquipment 2022-06-01 2023-05-31 13381385 d:OfficeEquipment 2023-05-31 13381385 d:OfficeEquipment 2022-05-31 13381385 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 13381385 d:CurrentFinancialInstruments 2023-05-31 13381385 d:CurrentFinancialInstruments 2022-05-31 13381385 d:Non-currentFinancialInstruments 2023-05-31 13381385 d:Non-currentFinancialInstruments 2022-05-31 13381385 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13381385 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 13381385 d:ShareCapital 2023-05-31 13381385 d:ShareCapital 2022-05-31 13381385 d:RetainedEarningsAccumulatedLosses 2023-05-31 13381385 d:RetainedEarningsAccumulatedLosses 2022-05-31 13381385 c:FRS102 2022-06-01 2023-05-31 13381385 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 13381385 c:FullAccounts 2022-06-01 2023-05-31 13381385 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 13381385

LUNA AND CASH LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

LUNA AND CASH LTD

REGISTERED NUMBER: 13381385

BALANCE SHEET

AS AT 31 MAY 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	5		982		224
			982		224
Current assets
Stocks		200		-
Debtors: amounts falling due after more than one year	6	4,500		4,500
Debtors: amounts falling due within one year	6	5,097		1,795
Cash at bank and in hand		2,146		5,174
		11,943		11,469
Creditors: amounts falling due within one year	7	(4,541)		(10,875)
Net current assets			7,402		594
Total assets less current liabilities			8,384		818
Provisions for liabilities
Deferred tax		(43)		(43)
			(43)		(43)
Net assets			8,341		775

Capital and reserves
Called up share capital	100	100
Profit and loss account	8,241	675
	8,341	775

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

LUNA AND CASH LTD

REGISTERED NUMBER: 13381385

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

L Miles

Director

Date: 25 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

LUNA AND CASH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

1.	General information

Luna and Cash Ltd is a company limited by shares and incorporated in England and Wales under the Companies Act 2006. The registered office address is given on the company information page. The nature of the Comnpany's operations and its principal activities are set out in the directors report.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The company has sufficent reserves to meet its day to day working capital requirements The Directors as a result have adopted the going concern basis of accounting.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

LUNA AND CASH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

3 years Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

LUNA AND CASH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and
assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and
the amounts reported for revenues and expenses during the year. The nature of estimation means the
actual outcomes could differ from those estimates.

Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

LUNA AND CASH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

5.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 June 2022	299
	Additions	1,061
	At 31 May 2023	1,360
	Depreciation
	At 1 June 2022	75
	Charge for the year on owned assets	303
	At 31 May 2023	378
	Net book value
	At 31 May 2023	982
	At 31 May 2022	224

6.	Debtors
		2023	2022
		£	£

Due after more than one year
Other debtors	4,500	4,500
	4,500	4,500

					2023	2022
					£	£

Due within one year
Other debtors	4,593	1,500
Prepayments and accrued income	-	295
Tax recoverable	504	-
	5,097	1,795

Page 6

LUNA AND CASH LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

6.Debtors (continued)

Included within other debtors due within one year is a loan to the Directors amounting to £1,493 (2022 - £Nil)). The loan is repayable on demand and interest free.

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Corporation tax	3,041	175
Other creditors	-	9,200
Accruals and deferred income	1,500	1,500
	4,541	10,875

8.	Related party transactions
	Included in other debtors is a loan to a related company through common control of £2,410. Included in other creditors there is a loan from a related company by common control of £Nil (2022: £9,200). These loans have 0% interest paid and are repayable upon demand.

Page 7