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Registration number: 13122813

Luff Holdings Hove Limited

Annual Report and Unaudited Financial Statements

for the period from 8 January 2021 to 31 December 2021

 

Luff Holdings Hove Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Luff Holdings Hove Limited

(Registration number: 13122813)
Statement of Financial Position
31 December 2021

Note

2021
£

Fixed assets

 

Tangible assets

4

9,799

Current assets

 

Cash at bank and in hand

 

45,990

Creditors: Amounts falling due within one year

6

(86,861)

Net current liabilities

 

(40,871)

Net liabilities

 

(31,072)

Capital and reserves

 

Called up share capital

1,000

Profit and loss account

(32,072)

Shareholders' deficit

 

(31,072)

For the financial period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 Board on 8 September 2022 and signed on its behalf by:
 

 

Luff Holdings Hove Limited

(Registration number: 13122813)
Statement of Financial Position
31 December 2021

.........................................
R J Luff
Director

 

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the period from 8 January 2021 to 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Wiston House
1 Wiston Avenue
Worthing
West Sussex
BN14 7QL

These financial statements were authorised for issue by the Board on 8 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the period from 8 January 2021 to 31 December 2021

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

Fixtures and fittings

15% reducing balance

Office equipment

over 5 years

Computer equipment

over 2 years

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 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.

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 employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the period from 8 January 2021 to 31 December 2021

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the period from 8 January 2021 to 31 December 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

12,071

12,071

At 31 December 2021

12,071

12,071

Depreciation

Charge for the period

2,272

2,272

At 31 December 2021

2,272

2,272

Carrying amount

At 31 December 2021

9,799

9,799

5

Debtors

2021
£

-

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

85,611

Accruals and deferred income

 

1,250

 

86,861

 

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the period from 8 January 2021 to 31 December 2021

7

Parent and ultimate parent undertaking

The company's immediate parent is Hargan Estates Ltd, incorporated in England.