STALWART LUXURY LIMITED |
Notes to the Accounts |
for the period from 1 November 2021 to 31 March 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Going concern |
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The company has support from the shareholder for any funding requirments. The director has confirmed continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future. The director continues to believe that the going concern basis of accounting is appropriate in preparing the financial statements. |
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Consolidation |
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The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertaking comprise a small group. |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Devender Arora ACA |
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Firm: |
The Corporate Practice Limited |
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Date of audit report: |
18 October 2023 |
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3 |
Employees |
2023 |
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2021 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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4 |
Investments |
Investments in |
subsidiary |
undertakings |
€ |
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Cost |
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At 1 November 2021 |
3,000 |
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At 31 March 2023 |
3,000 |
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5 |
Debtors |
2023 |
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2021 |
€ |
€ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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550,000 |
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906,747 |
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6 |
Creditors: amounts falling due within one year |
2023 |
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2021 |
€ |
€ |
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Other creditors |
4,788 |
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2,438 |
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7 |
Creditors: amounts falling due after one year |
2023 |
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2021 |
€ |
€ |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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348,362 |
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526,593 |
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8 |
Related party transactions |
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The Company has taken advantage of the exemption provided under Financial Reporting Standard 102 not to disclose transactions or balances with other members of the group. |
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9 |
Controlling party |
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The directors consider the immediate and ultimate parent company to be Stalwart Lifestyle PVT. Ltd, a company registered India. The published consolidated accounts of the ultimate holding Company can be obtained from D-9 & 10, 1ST FLOOR, INFOCITY-II, SECTOR-33, GURGAON, Haryana 122001, INDIA. |
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10 |
Other information |
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STALWART LUXURY LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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13 The Avenue |
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London |
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England |
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W13 8JR |