Luux Design & Sourcing Limited 07907033 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is providing a wide range of consultancy services to the fashion industry. Digita Accounts Production Advanced 6.30.9574.0 true true 07907033 2022-02-01 2023-01-31 07907033 2023-01-31 07907033 core:CurrentFinancialInstruments 2023-01-31 07907033 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 07907033 bus:SmallEntities 2022-02-01 2023-01-31 07907033 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 07907033 bus:FullAccounts 2022-02-01 2023-01-31 07907033 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 07907033 bus:RegisteredOffice 2022-02-01 2023-01-31 07907033 bus:Director1 2022-02-01 2023-01-31 07907033 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 07907033 core:OfficeEquipment 2022-02-01 2023-01-31 07907033 core:OtherRelatedParties 2022-02-01 2023-01-31 07907033 countries:England 2022-02-01 2023-01-31 07907033 2021-02-01 2022-01-31 07907033 2022-01-31 07907033 core:CurrentFinancialInstruments 2022-01-31 07907033 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 07907033

Luux Design & Sourcing Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

Luux Design & Sourcing Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Luux Design & Sourcing Limited

Company Information

Director

Fausto Raffaele Caroli

Registered office

80-83 Long Lane
London
EC1A 9ET

Accountants

Carbon Accountancy Limited
Chartered Accountants
80-83 Long Lane
London
EC1A 9ET

 

Luux Design & Sourcing Limited

(Registration number: 07907033)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

5,000

142

Cash at bank and in hand

 

1,448

687

 

6,448

829

Creditors: Amounts falling due within one year

5

(52,479)

(45,780)

Net liabilities

 

(46,031)

(44,951)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(46,032)

(44,952)

Shareholders' deficit

 

(46,031)

(44,951)

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 October 2023
 

.........................................
Fausto Raffaele Caroli
Director

 

Luux Design & Sourcing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
80-83 Long Lane
London
EC1A 9ET

These financial statements were authorised for issue by the director on 17 October 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Luux Design & Sourcing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

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

Office equipment

25% straight line basis

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. They are subsequently measured at amortised cost using the effective interest method, less provision for 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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Luux Design & Sourcing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

4

Debtors

Current

2023
£

2022
£

Trade debtors

5,000

-

Other debtors

-

142

 

5,000

142

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

900

600

Other creditors

51,579

45,180

52,479

45,780

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

7

Related party transactions

Included in Other creditors are loans from the director amounting to £51,579 (2022 - £38,846) which are interest free and repayable on demand.