Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-292022-11-292021-11-301false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09228447 2021-11-30 2022-11-29 09228447 2020-11-30 2021-11-29 09228447 2022-11-29 09228447 2021-11-29 09228447 2020-11-30 09228447 c:Director1 2021-11-30 2022-11-29 09228447 d:CurrentFinancialInstruments 2022-11-29 09228447 d:CurrentFinancialInstruments 2021-11-29 09228447 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-29 09228447 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-29 09228447 d:UKTax 2021-11-30 2022-11-29 09228447 d:UKTax 2020-11-30 2021-11-29 09228447 d:ShareCapital 2021-11-30 2022-11-29 09228447 d:ShareCapital 2022-11-29 09228447 d:ShareCapital 2020-11-30 2021-11-29 09228447 d:ShareCapital 2021-11-29 09228447 d:ShareCapital 2020-11-30 09228447 d:RetainedEarningsAccumulatedLosses 2021-11-30 2022-11-29 09228447 d:RetainedEarningsAccumulatedLosses 2022-11-29 09228447 d:RetainedEarningsAccumulatedLosses 2020-11-30 2021-11-29 09228447 d:RetainedEarningsAccumulatedLosses 2021-11-29 09228447 d:RetainedEarningsAccumulatedLosses 2020-11-30 09228447 c:FRS102 2021-11-30 2022-11-29 09228447 c:AuditExempt-NoAccountantsReport 2021-11-30 2022-11-29 09228447 c:FullAccounts 2021-11-30 2022-11-29 09228447 c:PrivateLimitedCompanyLtd 2021-11-30 2022-11-29 09228447 2 2021-11-30 2022-11-29 09228447 6 2021-11-30 2022-11-29 iso4217:GBP xbrli:pure

Registered number: 09228447










LUXE DISTRIBUTION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 NOVEMBER 2022

 
LUXE DISTRIBUTION LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Statement of changes in equity
 
3
Notes to the financial statements
 
4 - 8


 
LUXE DISTRIBUTION LIMITED
REGISTERED NUMBER: 09228447

BALANCE SHEET
AS AT 29 NOVEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
 5 
67,160
67,160

  
67,160
67,160

Current assets
  

Debtors: amounts falling due within one year
 6 
1,512,100
1,236,811

Cash at bank and in hand
 7 
4,431,309
4,537,141

  
5,943,409
5,773,952

Creditors: amounts falling due within one year
 8 
(1,244,348)
(1,751,167)

Net current assets
  
 
 
4,699,061
 
 
4,022,785

Total assets less current liabilities
  
4,766,221
4,089,945

  

Net assets
  
4,766,221
4,089,945


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
4,766,121
4,089,845

Shareholder's funds
  
4,766,221
4,089,945


Page 1

 
LUXE DISTRIBUTION LIMITED
REGISTERED NUMBER: 09228447
    
BALANCE SHEET (CONTINUED)
AS AT 29 NOVEMBER 2022

The director considers 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 director acknowledges her 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.

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



................................................
S Hashim
Director
Date: 16 November 2023

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
LUXE DISTRIBUTION LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 NOVEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 30 November 2021
100
4,089,845
4,089,945


Comprehensive income for the year

Profit for the year
-
687,776
687,776
Total comprehensive income for the year
-
687,776
687,776


Contributions by and distributions to owners

Dividends: Equity capital
-
(11,500)
(11,500)


Total transactions with owners
-
(11,500)
(11,500)


At 29 November 2022
100
4,766,121
4,766,221


The notes on pages 4 to 8 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 NOVEMBER 2021


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2020
100
3,141,901
3,142,001


Comprehensive income for the year

Profit for the year
-
1,009,944
1,009,944
Total comprehensive income for the year
-
1,009,944
1,009,944


Contributions by and distributions to owners

Dividends: Equity capital
-
(62,000)
(62,000)


Total transactions with owners
-
(62,000)
(62,000)


At 29 November 2021
100
4,089,845
4,089,945


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
LUXE DISTRIBUTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2022

1.


General information

The company is a private company limited by shares, and is incorporated in England and Wales. The address of its registered office is 15 New Road, Welwyn Garden City, Herts, United Kingdom, AL8 7TX.

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 director has, at the time of approving the financial statements, a reasonable expectation that the Company have adequate resources to continue in operational existence for a period of at least 12 months from the date of issuance of these financial statements. Thus, the going concern basis of accounting has been adopted in preparing the financial statements. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
LUXE DISTRIBUTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2022

2.Accounting policies (continued)

 
2.4

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Taxation

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.

 
2.8

Valuation of investments

Other investments are measured at historic cost. 

 
2.9

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.

Page 5

 
LUXE DISTRIBUTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2022

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Taxation


2022
2021
£
£

Corporation tax


Current tax on profits for the year
161,330
238,531



Tax on profit
161,330
238,531
Page 6

 
LUXE DISTRIBUTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2022
 
4.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is the same as (2021 - higher than) the standard rate of corporation tax in the UK of 19% (2021 - 19%). The differences are explained below:

2022
2021
£
£


Profit on ordinary activities before tax
849,106
1,248,475


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2021 - 19%)
161,330
237,210

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
-
1,321

Total tax charge for the year
161,330
238,531


5.


Fixed asset investments





Other fixed asset investment

£



Cost or valuation


At 30 November 2021
67,160



At 29 November 2022
67,160




Page 7

 
LUXE DISTRIBUTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2022

6.


Debtors

2022
2021
£
£


Trade debtors
1,068,000
-

Called up share capital not paid
100
100

Prepayments and accrued income
444,000
1,236,711

1,512,100
1,236,811



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
4,431,309
4,537,141



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
528,000
18,880

Corporation tax
154,861
236,963

Other taxation and social security
43,825
140,282

Other creditors
4,467
43,415

Accruals and deferred income
513,195
1,311,627

1,244,348
1,751,167



9.


Related party transactions

At 29 November 2022, a balance of £3,249 (2021: £42,391) was owed to the director of the company. Interest is not charged on this balance.
During the year, dividends of £11,500 (2021: £62,000) were paid to the director of the company.
During the year, commissions, consultancy and accounting fees of £1,942,033 (2021: £1,637,481) were paid to a company with a common director.

 
Page 8