Ludwig Associates Ltd - Accounts to registrar (filleted) - small 24.3

REGISTERED NUMBER: 07709991 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2024

for

LUDWIG ASSOCIATES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Imrie

J M Imrie

REGISTERED OFFICE:

20-22 Wenlock Road

London

N1 1GU

REGISTERED NUMBER:

07709991 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,774

-

Investments

5

105,998

105,998

108,772

105,998

CURRENT ASSETS

Debtors

6

17,640

11,060

Cash at bank

62,672

-

80,312

11,060

CREDITORS

Amounts falling due within one year

7

33,459

1,727

NET CURRENT ASSETS

46,853

9,333

TOTAL ASSETS LESS CURRENT LIABILITIES

155,625

115,331

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

155,624

115,330

SHAREHOLDERS' FUNDS

155,625

115,331

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 December 2024 and were signed on its behalf by:

N Imrie - Director

1.	STATUTORY INFORMATION

Ludwig Associates Ltd 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 represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible fixed assets

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

Computer equipment

-

33% on cost

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.

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.

Investments

Current asset investments are at the lower of cost and net realisable value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

3,497

At 31 March 2024

3,497

DEPRECIATION

Charge for year

723

At 31 March 2024

723

NET BOOK VALUE

At 31 March 2024

2,774

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2023

and 31 March 2024

105,998

NET BOOK VALUE

At 31 March 2024

105,998

At 31 March 2023

105,998

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

17,640

-

Directors' current accounts

-

11,060

17,640

11,060

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

2,580

-

Tax

29,004

-

Directors' current accounts

147

-

Accrued expenses

1,728

1,727

33,459

1,727

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024

2023

£

£

N Imrie

Balance outstanding at start of year

11,060

9,806

Amounts advanced

65,370

1,254

Amounts repaid

(76,887

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(457

)

11,060

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N Imrie.