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REGISTERED NUMBER: 04123437 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Lustalux Ltd

Lustalux Ltd (Registered number: 04123437)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lustalux Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr R Lancaster
Mr A J Macdonald
Mr B H Haynes





REGISTERED OFFICE: Unit A2/A3
Anchorage Business Park
Chain Caul Way
Preston
Lancashire
PR2 2YL





REGISTERED NUMBER: 04123437 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Lustalux Ltd (Registered number: 04123437)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 45,962 39,146
45,962 39,146

CURRENT ASSETS
Stocks 57,000 54,332
Debtors 6 200,127 175,266
Cash at bank and in hand 32,401 56,314
289,528 285,912
CREDITORS
Amounts falling due within one year 7 196,549 178,542
NET CURRENT ASSETS 92,979 107,370
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,941

146,516

CREDITORS
Amounts falling due after more than one
year

8

114,251

164,997
NET ASSETS/(LIABILITIES) 24,690 (18,481 )

CAPITAL AND RESERVES
Called up share capital 200 200
Capital redemption reserve 2 2
Retained earnings 24,488 (18,683 )
SHAREHOLDERS' FUNDS 24,690 (18,481 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Lustalux Ltd (Registered number: 04123437)

Statement of Financial Position - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:





Mr R Lancaster - Director


Lustalux Ltd (Registered number: 04123437)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Lustalux Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Lustalux Ltd (Registered number: 04123437)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The financial statements have been prepared on a going concern basis as the directors have confirmed that he will continue to support the company for the foreseeable future and meet the excess liabilities if the company is unable to do so.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 75,000
AMORTISATION
At 1 January 2023
and 31 December 2023 75,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Lustalux Ltd (Registered number: 04123437)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 48,918 38,976 19,257 66,120 173,271
Additions 20,995 - - - 20,995
At 31 December 2023 69,913 38,976 19,257 66,120 194,266
DEPRECIATION
At 1 January 2023 10,360 38,976 19,257 65,532 134,125
Charge for year 13,983 - - 196 14,179
At 31 December 2023 24,343 38,976 19,257 65,728 148,304
NET BOOK VALUE
At 31 December 2023 45,570 - - 392 45,962
At 31 December 2022 38,558 - - 588 39,146

Included in above figure are the asset held under hire purchase agreement with net book value of £
36,574 (2022-£26,563) and the depreciation charged in respect of such asset during the year is
£10,984.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 136,814 120,470
Other debtors 63,313 54,796
200,127 175,266

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 35,000 35,000
Hire purchase contracts (see note 9) 12,342 6,282
Trade creditors 45,028 24,156
Taxation and social security 64,951 78,060
Other creditors 39,228 35,044
196,549 178,542

Lustalux Ltd (Registered number: 04123437)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 49,584 84,583
Hire purchase contracts (see note 9) 22,156 16,998
Other creditors 42,511 63,416
114,251 164,997

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 12,342 6,282
Between one and five years 22,156 16,998
34,498 23,280

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 15,268 19,895
Between one and five years 2,856 18,115
18,124 38,010

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 84,584 119,583
Other loans 63,416 84,321
Hire purchase contracts 34,498 23,280
182,498 227,184

The UK Government have provided an 80% guarantee on the Coronavirus Business Interruption Loan Scheme (CBILS), borrowings obtained from HSBC Bank PLC and Funding Circle.

Hire purchase liabilities are secured by the assets subjected to the contract.

Lustalux Ltd (Registered number: 04123437)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The director Richard Lancaster owed £10,293 (2022-£10,762) to the company at the year end. No interest has been charged on this outstanding and it is repayable on demand.