Company Registration No. 13208838 (England and Wales)
LUXONE DESIGN LIMITED
Unaudited accounts
for the year ended 29 February 2024
LUXONE DESIGN LIMITED
Unaudited accounts
Contents
LUXONE DESIGN LIMITED
Company Information
for the year ended 29 February 2024
Company Number
13208838 (England and Wales)
Registered Office
Orion House, Axis 4/5 Woodlands
Bradley Stoke
Bristol
BS32 4JT
Accountants
Streets Steele Limited
Orion House, Axis 4/5
Woodlands, Bradley Stoke
Bristol
BS32 4JT
LUXONE DESIGN LIMITED
Statement of financial position
as at 29 February 2024
Tangible assets
2,513
2,594
Cash at bank and in hand
902
1,014
Creditors: amounts falling due within one year
(6,307)
(5,572)
Net current assets
229
3,674
Called up share capital
1
1
Profit and loss account
2,741
6,267
Shareholders' funds
2,742
6,268
For the year ending 29 February 2024 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 his 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 9 April 2024 and were signed on its behalf by
W Price
Director
Company Registration No. 13208838
LUXONE DESIGN LIMITED
Notes to the Accounts
for the year ended 29 February 2024
LUXONE DESIGN LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13208838. The registered office is Orion House, Axis 4/5 Woodlands, Bradley Stoke, Bristol, BS32 4JT.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Fixtures & fittings
25% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
LUXONE DESIGN LIMITED
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
4,264
3,061
Other creditors
1,463
1,964
Loans from directors
580
547
7
Transactions with related parties
As at 28 February 2024, the company owed the director £580 (2023: £547). This loan is interest free and repayable on demand.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).