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Company Registration No. 12224323 (England and Wales)
Lavish Habitat Limited Unaudited accounts for the year ended 31 March 2023
Lavish Habitat Limited Unaudited accounts Contents
Page
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Lavish Habitat Limited Company Information for the year ended 31 March 2023
Director
J Fitch
Company Number
12224323 (England and Wales)
Registered Office
40 West Street Selsey Chichester West Sussex PO20 9AB
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Lavish Habitat Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
301,070 
303,262 
Current assets
Debtors
1,416 
- 
Cash at bank and in hand
5,542 
5,632 
6,958 
5,632 
Creditors: amounts falling due within one year
(115,873)
(130,540)
Net current liabilities
(108,915)
(124,908)
Total assets less current liabilities
192,155 
178,354 
Creditors: amounts falling due after more than one year
(196,871)
(196,917)
Net liabilities
(4,716)
(18,563)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(4,726)
(18,573)
Shareholders' funds
(4,716)
(18,563)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 November 2023 and were signed on its behalf by
J Fitch Director Company Registration No. 12224323
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Lavish Habitat Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Lavish Habitat Limited is a private company, limited by shares, registered in England and Wales, registration number 12224323. The registered office is 40 West Street, Selsey, Chichester, West Sussex, PO20 9AB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Depreciation on freehold buildings has not been provided due to the mix of land and buildings. The directors are of the opinion that the residual value at the end of the freehold building's useful life is not likely to be materially different from historical cost. The company's policy is to maintain the freehold building in such condition that its value is not diminished by the passage of time and the relevant expenditure is charged to the profit and loss account in the year in which it is incurred. Therefore any element of depreciation is considered to be immaterial and no provision is made.
Plant & machinery
25% per annum straight line
Going concern
In light of the fact that the Company only acquired the freehold during the year and the property needs work done on it there has been no time to do this and lease the property out. On this basis the accounts have been produced on the Going Concern basis, pending rental income arising in the following financial year.
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Lavish Habitat Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
298,121 
9,467 
307,588 
At 31 March 2023
298,121 
9,467 
307,588 
Depreciation
At 1 April 2022
- 
4,326 
4,326 
Charge for the year
- 
2,192 
2,192 
At 31 March 2023
- 
6,518 
6,518 
Net book value
At 31 March 2023
298,121 
2,949 
301,070 
At 31 March 2022
298,121 
5,141 
303,262 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,416 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,500 
2,500 
Other creditors
47,025 
47,025 
Loans from directors
61,680 
79,921 
Accruals
4,668 
1,094 
115,873 
130,540 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
6,615 
8,819 
Other creditors
190,256 
188,098 
196,871 
196,917 
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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