Registered number
05866057
Luxury Design & Build Limited
Unaudited Filleted Accounts
31 July 2023
Luxury Design & Build Limited
Registered number: 05866057
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,182 8,971
Current assets
Stocks 230,035 236,285
Debtors 4 173,919 212,613
Cash at bank and in hand 43,930 60,718
447,884 509,616
Creditors: amounts falling due within one year 5 (212,520) (244,021)
Net current assets 235,364 265,595
Total assets less current liabilities 236,546 274,566
Creditors: amounts falling due after more than one year 6 (74,015) (106,355)
Provisions for liabilities (295) (1,704)
Net assets 162,236 166,507
Capital and reserves
Called up share capital 2 2
Profit and loss account 162,234 166,505
Shareholder's funds 162,236 166,507
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime within Part 15 of the Companies act 2006
As permitted by Section 444(5A) of the Companies Act 2006 the Director(s) have not delivered to the Registrar a copy of the company's Profit & Loss account
Mr Hamid Vand
Director
Approved by the board on 12 July 2024
Luxury Design & Build Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25 % on cost
Computer equipment 25 % on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant and machinery etc Computer equipment Total
£ £ £
Cost
At 1 August 2022 87,782 6,636 94,418
At 31 July 2023 87,782 6,636 94,418
Depreciation
At 1 August 2022 81,175 4,272 85,447
Charge for the year 6,607 1,182 7,789
At 31 July 2023 87,782 5,454 93,236
Net book value
At 31 July 2023 - 1,182 1,182
At 31 July 2022 6,607 2,364 8,971
4 Debtors 2023 2022
£ £
Trade debtors 171,782 203,457
Prepayments - 2,078
Other debtors 2,137 7,078
173,919 212,613
5 Creditors: amounts falling due within one year 2023 2022
£ £
Director's account 29,882 36,270
Bank loans and overdrafts 51,426 -
Pension scheme payable 1,469 2,038
Trade creditors 95,409 156,225
Net wages 8,203 11,975
Taxation and social security costs 4,352 21,801
Other creditors 21,779 15,712
212,520 244,021
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 74,015 106,355
7 Other information
Luxury Design & Build Limited is a private company limited by shares and incorporated in England. Its registered office is:
277 -279 Chiswick High Road
London
W4 4PU
Luxury Design & Build Limited 05866057 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts April 2024 Mr Hamid Vand No description of principal activity 05866057 2021-08-01 2022-07-31 05866057 core:WithinOneYear 2022-07-31 05866057 core:AfterOneYear 2022-07-31 05866057 core:ShareCapital 2022-07-31 05866057 core:RetainedEarningsAccumulatedLosses 2022-07-31 05866057 2022-08-01 2023-07-31 05866057 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05866057 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 05866057 bus:Director40 2022-08-01 2023-07-31 05866057 1 2022-08-01 2023-07-31 05866057 2 2022-08-01 2023-07-31 05866057 core:PlantMachinery 2022-08-01 2023-07-31 05866057 core:Vehicles 2022-08-01 2023-07-31 05866057 countries:England 2022-08-01 2023-07-31 05866057 bus:FRS102 2022-08-01 2023-07-31 05866057 bus:FilletedAccounts 2022-08-01 2023-07-31 05866057 2023-07-31 05866057 core:WithinOneYear 2023-07-31 05866057 core:AfterOneYear 2023-07-31 05866057 core:ShareCapital 2023-07-31 05866057 core:RetainedEarningsAccumulatedLosses 2023-07-31 05866057 core:PlantMachinery 2023-07-31 05866057 core:Vehicles 2023-07-31 05866057 2022-07-31 05866057 core:PlantMachinery 2022-07-31 05866057 core:Vehicles 2022-07-31 iso4217:GBP xbrli:pure