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Registration number: 11599094

Luxe Living By Sophia Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Luxe Living By Sophia Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

Luxe Living By Sophia Limited

Company Information

Director

Ms S L Morbey

Registered office

The Granary
Butlas Court
Plymouth
PL7 5AB

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Luxe Living By Sophia Limited
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Luxe Living By Sophia Limited for the year ended 31 October 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Luxe Living By Sophia Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Luxe Living By Sophia Limited and state those matters that we have agreed to state to the Board of Directors of Luxe Living By Sophia Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Luxe Living By Sophia Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Luxe Living By Sophia Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Luxe Living By Sophia Limited. You consider that Luxe Living By Sophia Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Luxe Living By Sophia Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

26 July 2024

 

Luxe Living By Sophia Limited

(Registration number: 11599094)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

1,639

1,322

Current assets

 

Debtors

4

18,636

36,203

Cash at bank and in hand

 

73,642

101,919

 

92,278

138,122

Creditors: Amounts falling due within one year

5

(39,739)

(83,441)

Net current assets

 

52,539

54,681

Total assets less current liabilities

 

54,178

56,003

Creditors: Amounts falling due after more than one year

5

(31,339)

(31,461)

Net assets

 

22,839

24,542

Capital and reserves

 

Called up share capital

100

100

Retained earnings

22,739

24,442

Shareholders' funds

 

22,839

24,542

 

Luxe Living By Sophia Limited

(Registration number: 11599094)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the profit and loss has been taken.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 26 July 2024
 

.........................................

Ms S L Morbey

Director

 

Luxe Living By Sophia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Granary
Butlas Court
Plymouth
PL7 5AB

These financial statements were authorised for issue by the director on 26 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received for short and long term holiday lets.

The company recognises revenue at the point of sale.

Tax

The tax expense for the period comprises 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Luxe Living By Sophia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Debtors

2023
£

2022
£

Trade debtors

11,093

5,609

Other debtors

7,543

30,594

18,636

36,203

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

1,600

3,129

Trade creditors

 

3,889

6,677

Taxation and social security

 

14,706

14,408

Accruals and deferred income

 

4,261

3,000

Other creditors

 

15,283

56,227

 

39,739

83,441

 

Luxe Living By Sophia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

31,339

31,461

6

Related party transactions

During the year the company made advances of £16,090 (2022: £32,487) to the director, of which £39,397 (2022: £18,541) was repaid. At the year end £7,393 (2022: £30,582) was owed to the company. Interest is charged on the outstanding balance at the HMRC official rate.