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REGISTERED NUMBER: 07100423 (England and Wales)












PURE LUXURIES LONDON LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PURE LUXURIES LONDON LTD (REGISTERED NUMBER: 07100423)

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


PURE LUXURIES LONDON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: Mr S H Kennedy
Mrs H T Kennedy
Mr D J Kennedy



Registered office: Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Business address: 6:1:3 Alston House
White Cross
LANCASTER
LA1 4XQ



Registered number: 07100423 (England and Wales)



Accountants: Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD



Bankers: Santander UK Plc
Bridle Road
BOOTLE
L30 4GB

PURE LUXURIES LONDON LTD (REGISTERED NUMBER: 07100423)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 12,090 3,525
Tangible assets 5 45,651 48,116
57,741 51,641

Current assets
Stocks 1,340,671 2,032,055
Debtors 6 467,461 275,286
Cash at bank 1,294,719 845,703
3,102,851 3,153,044
Creditors
Amounts falling due within one year 7 589,597 653,178
Net current assets 2,513,254 2,499,866
Total assets less current liabilities 2,570,995 2,551,507

Provisions for liabilities 9,957 7,902
Net assets 2,561,038 2,543,605

Capital and reserves
Called up share capital 200 101
Retained earnings 2,560,838 2,543,504
2,561,038 2,543,605

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.

PURE LUXURIES LONDON LTD (REGISTERED NUMBER: 07100423)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





Mr S H Kennedy - Director


PURE LUXURIES LONDON LTD (REGISTERED NUMBER: 07100423)

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


1. Statutory information

Pure Luxuries London 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
Provision is made for goods which are sold before the balance sheet date, but which are subsequently returned after this date.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for goods provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring goods to the customer.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of two years.

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 etc - 25% on reducing balance, 25% on cost and 20% Reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 Statement of Income and Retained Earnings, 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.


PURE LUXURIES LONDON LTD (REGISTERED NUMBER: 07100423)

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 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.

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.

3. Employees and directors

The average number of employees during the year was 17 (2022 - 19 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 January 2023 38,075
Additions 13,998
At 31 December 2023 52,073
Amortisation
At 1 January 2023 34,550
Charge for year 5,433
At 31 December 2023 39,983
Net book value
At 31 December 2023 12,090
At 31 December 2022 3,525

PURE LUXURIES LONDON LTD (REGISTERED NUMBER: 07100423)

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


5. Tangible fixed assets
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
Cost
At 1 January 2023 10,660 37,829 60,716
Additions - 1,877 2,909
Disposals - - -
At 31 December 2023 10,660 39,706 63,625
Depreciation
At 1 January 2023 5,689 25,725 36,240
Charge for year 3,554 1,955 3,773
Eliminated on disposal - - -
At 31 December 2023 9,243 27,680 40,013
Net book value
At 31 December 2023 1,417 12,026 23,612
At 31 December 2022 4,971 12,104 24,476

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 January 2023 5,100 56,922 171,227
Additions - 6,792 11,578
Disposals (5,100 ) (26,070 ) (31,170 )
At 31 December 2023 - 37,644 151,635
Depreciation
At 1 January 2023 4,193 51,264 123,111
Charge for year 151 3,854 13,287
Eliminated on disposal (4,344 ) (26,070 ) (30,414 )
At 31 December 2023 - 29,048 105,984
Net book value
At 31 December 2023 - 8,596 45,651
At 31 December 2022 907 5,658 48,116

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 109,820 163,848
Other debtors 357,641 111,438
467,461 275,286

PURE LUXURIES LONDON LTD (REGISTERED NUMBER: 07100423)

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


7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 38 -
Trade creditors 89,587 114,226
Taxation and social security 305,157 357,982
Other creditors 194,815 180,970
589,597 653,178

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 63,125 92,775
Between one and five years - 60,000
63,125 152,775

9. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr D J Kennedy and Mrs H T Kennedy
Balance outstanding at start of year 52,680 (353,504 )
Amounts advanced 428,318 662,187
Amounts repaid (274,461 ) (256,003 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 206,537 52,680

Mr S H Kennedy
Balance outstanding at start of year 12,070 (61,623 )
Amounts advanced 73,337 73,715
Amounts repaid (25,476 ) (22 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 59,931 12,070