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
Lavish Habitat Limited
Company Information
for the year ended 31 March 2023
Company Number
12224323 (England and Wales)
Registered Office
40 West Street
Selsey
Chichester
West Sussex
PO20 9AB
Lavish Habitat Limited
Statement of financial position
as at 31 March 2023
Tangible assets
301,070
303,262
Cash at bank and in hand
5,542
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)
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
Lavish Habitat Limited
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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.
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
At 1 April 2022
-
4,326
4,326
Charge for the year
-
2,192
2,192
At 31 March 2023
-
6,518
6,518
At 31 March 2023
298,121
2,949
301,070
At 31 March 2022
298,121
5,141
303,262
Amounts falling due within one year
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
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
190,256
188,098
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).