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REGISTERED NUMBER: 08352407 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LUXURY MEDIA LIMITED

LUXURY MEDIA LIMITED (REGISTERED NUMBER: 08352407)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LUXURY MEDIA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G Piazza
A Piccioni





REGISTERED OFFICE: 5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX





REGISTERED NUMBER: 08352407 (England and Wales)





ACCOUNTANTS: Arithma LLP
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

LUXURY MEDIA LIMITED (REGISTERED NUMBER: 08352407)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 573,904
Investments 5 8,712 8,712
8,713 582,616

CURRENT ASSETS
Debtors 6 528,718 300,410
Cash in hand 1,567,387 1,825,988
2,096,105 2,126,398
CREDITORS
Amounts falling due within one year 7 225,735 205,720
NET CURRENT ASSETS 1,870,370 1,920,678
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,879,083

2,503,294

CAPITAL AND RESERVES
Called up share capital 8,232 8,232
Share premium 6,990,355 6,990,355
Retained earnings (5,119,504 ) (4,495,293 )
SHAREHOLDERS' FUNDS 1,879,083 2,503,294

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.

LUXURY MEDIA LIMITED (REGISTERED NUMBER: 08352407)

BALANCE SHEET - 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 11 September 2024 and were signed on its behalf by:





A Piccioni - Director


LUXURY MEDIA LIMITED (REGISTERED NUMBER: 08352407)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Luxury Media Limited 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.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

INTANGIBLE ASSETS
The intangible assets represent the cost of the company's acquisition of the technology platform, associated software and various internet domain names. The cost is being amortised on a straight line basis over a period of ten years.

INVESTMENTS IN SUBSIDIARIES AND ASSOCIATES
Investments in subsidiary and associate undertakings are recognised at cost less any provision for impairment.

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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

LUXURY MEDIA LIMITED (REGISTERED NUMBER: 08352407)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at average monthly HMRC rates based on the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 5,739,023
AMORTISATION
At 1 January 2023 5,165,119
Charge for year 573,903
At 31 December 2023 5,739,022
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 573,904

The intangible assets represents the cost of various domain names, technology platform and software etc.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2023
and 31 December 2023 8,712
NET BOOK VALUE
At 31 December 2023 8,712
At 31 December 2022 8,712

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 528,718 300,410

LUXURY MEDIA LIMITED (REGISTERED NUMBER: 08352407)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 31,061 1,896
Other creditors 194,674 203,824
225,735 205,720

8. RELATED PARTY DISCLOSURES

The company procured £189,372 (2022 - £193,534) of IT support services from Immobiliare.it SPA during the year. The company and Immobiliare.it SpA are related parties as Real Web SA is one of the company's shareholders and the sole shareholder of Immobiliare.it SpA.

9. ULTIMATE CONTROLLING PARTY

The company is under the control of A Piccioni by virtue of his majority shareholding in the company.