Acorah Software Products - Accounts Production 15.0.600 false true true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 10494367 Ms Lisa Pagin Ms Willow Pagin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10494367 2022-11-30 10494367 2023-11-30 10494367 2022-12-01 2023-11-30 10494367 frs-core:CurrentFinancialInstruments 2023-11-30 10494367 frs-core:Non-currentFinancialInstruments 2023-11-30 10494367 frs-core:MotorVehicles 2023-11-30 10494367 frs-core:MotorVehicles 2022-12-01 2023-11-30 10494367 frs-core:MotorVehicles 2022-11-30 10494367 frs-core:PlantMachinery 2023-11-30 10494367 frs-core:PlantMachinery 2022-12-01 2023-11-30 10494367 frs-core:PlantMachinery 2022-11-30 10494367 frs-core:ShareCapital 2023-11-30 10494367 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 10494367 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 10494367 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 10494367 frs-bus:SmallEntities 2022-12-01 2023-11-30 10494367 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 10494367 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 10494367 frs-core:CostValuation 2022-11-30 10494367 frs-core:CostValuation 2023-11-30 10494367 frs-core:ProvisionsForImpairmentInvestments 2022-11-30 10494367 frs-core:ProvisionsForImpairmentInvestments 2023-11-30 10494367 frs-bus:Director1 2022-12-01 2023-11-30 10494367 frs-bus:Director2 2022-12-01 2023-11-30 10494367 frs-bus:Director2 2022-11-30 10494367 frs-bus:Director2 2023-11-30 10494367 frs-countries:EnglandWales 2022-12-01 2023-11-30 10494367 2021-11-30 10494367 2022-11-30 10494367 2021-12-01 2022-11-30 10494367 frs-core:CurrentFinancialInstruments 2022-11-30 10494367 frs-core:Non-currentFinancialInstruments 2022-11-30 10494367 frs-core:ShareCapital 2022-11-30 10494367 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 10494367
Lux Blu Developments Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10494367
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,376 24,220
Investment Properties 5 1,150,000 1,150,000
Investments 6 269,997 269,997
1,439,373 1,444,217
CURRENT ASSETS
Debtors 7 214,788 233,475
Cash at bank and in hand 2,405 22,797
217,193 256,272
Creditors: Amounts Falling Due Within One Year 8 (1,151,119 ) (1,197,300 )
NET CURRENT ASSETS (LIABILITIES) (933,926 ) (941,028 )
TOTAL ASSETS LESS CURRENT LIABILITIES 505,447 503,189
Creditors: Amounts Falling Due After More Than One Year 9 (806,544 ) (815,009 )
NET LIABILITIES (301,097 ) (311,820 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (301,197 ) (311,920 )
SHAREHOLDERS' FUNDS (301,097) (311,820)
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For the year ending 30 November 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Lisa Pagin
Director
29/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Lux Blu Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10494367 . The registered office is Bay View, Gyllyngvase Road, Falmouth, Cornwall, TR11 4DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements.  The directors note that the business has net liabilities of £301,197.  The company is supported through loans from the directors and other connected companies.  The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company.  Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements.  Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 3 years straight line
Motor Vehicles 20% reducing balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 December 2022 5,013 30,275 35,288
As at 30 November 2023 5,013 30,275 35,288
Depreciation
As at 1 December 2022 5,013 6,055 11,068
Provided during the period - 4,844 4,844
As at 30 November 2023 5,013 10,899 15,912
Net Book Value
As at 30 November 2023 - 19,376 19,376
As at 1 December 2022 - 24,220 24,220
5. Investment Property
2023
£
Fair Value
As at 1 December 2022 and 30 November 2023 1,150,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 1,037,118 1,037,118
6. Investments
Subsidiaries
£
Cost
As at 1 December 2022 269,997
As at 30 November 2023 269,997
Provision
As at 1 December 2022 -
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 269,997
As at 1 December 2022 269,997
This investment represents Lux Blu Development Ltd's 100% ownership of the shares of Kernowek Kerth Limited.
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7. Debtors
2023 2022
£ £
Due within one year
Other debtors 25,976 25,976
Directors' loan accounts - 10,030
Amounts owed by connected companies 188,812 197,469
214,788 233,475
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,692 3,692
Trade creditors 5,348 1,325
Bank loans and overdrafts 4,779 4,784
Corporation tax 20,360 24,724
Other taxes and social security - 349
Other creditors 934,508 931,051
Accruals and deferred income - 4,200
Directors' loan accounts 13,510 -
Amounts owed to connected companies 168,922 227,175
1,151,119 1,197,300
The bank loans figure of £4,779 represents the company's bounce back loan that is secured by the government.
The hire purchase liability is secured against the asset.
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 17,786 21,478
Bank loans 788,758 793,531
806,544 815,009
Of the total bank loans figure of £788,758, £762,450 is secured against the investment property. The remaining £26,308 represents the company's bounce back loan that is secured by the government.
The hire purchase liability is secured against the asset.
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Ms Willow Pagin 8,390 44,600 (66,500 ) - (13,510 )
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
Transactions with entities in which the entity has a controlling interest:
Balances receiveable at 30 November 2023 included within the debtors note above:
     - Kernowek Kerth Limited:   £86,860   (2022: £101,003)
Other related party transactions:
Balances receiveable at 30 November 2023 included within the debtors note above:
     - Lux Blu Cleaning Ltd:   £0   (2022: £5,156)
     - Lux Blu Management Limited:   £7,998   (2022: £9,698)
     - Lux Blu Group Ltd:   £340   (2022: £0)
     - Pennywort Properties Limited:   £6,545   (2022: £4,705)
     - Red Willow Holdings Ltd:   £29,874   (2022: £13,989)
     - Rosebay Court Ltd:   £57,194   (2022: £62,918)
Balances payable at 30 November 2023 included within the creditors note above:
     - Lux Blu Anchorage Limited:   £0   (2022: £20,609)
     - Lux Blu London Ltd:   £162,736   (2022: £151,353)
     - Red Willow Properties Ltd:   £6,186   (2022: £55,213)
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