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Registered Number: 09055794
England and Wales

 

 

 

PERSONALISED LUGGAGE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 22,008    26,839 
22,008    26,839 
Current assets      
Stocks 4 58,289    215,185 
Debtors 5 253,955    167,588 
Cash at bank and in hand 347,196    302,855 
659,440    685,628 
Creditors: amount falling due within one year 6 (532,725)   (503,264)
Net current assets 126,715    182,364 
 
Total assets less current liabilities 148,723    209,203 
Creditors: amount falling due after more than one year 7 (19,275)   (29,098)
Provisions for liabilities 8 (4,182)   (5,100)
Net assets 125,266    175,005 
 

Capital and reserves
     
Called up share capital 9 1    1 
Profit and loss account 125,265    175,004 
Shareholders' funds 125,266    175,005 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 September 2024 and were signed on its behalf by:


-------------------------------
S B Isaacs
Director
1
General Information
Personalised Luggage Limited is a private company, limited by shares, registered in England and Wales, registration number 09055794, registration address c/o 2 Manor Court, Manor Mill Lane, Leeds, LS11 8LQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are charged to the Income Statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 18% Reducing Balance
Computer Equipment 18% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 January 2023 1,759    51,572    53,331 
Additions    
Disposals    
At 31 December 2023 1,759    51,572    53,331 
Depreciation
At 01 January 2023 403    26,089    26,492 
Charge for year 244    4,587    4,831 
On disposals    
At 31 December 2023 647    30,676    31,323 
Net book values
Closing balance as at 31 December 2023 1,112    20,896    22,008 
Opening balance as at 01 January 2023 1,355    25,484    26,839 


4.

Stocks

2023
£
  2022
£
Stocks 58,289    215,185 
58,289    215,185 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 9,348    11,575 
Other Debtors 244,607    156,013 
253,955    167,588 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 119,200    104,330 
Bank Loans & Overdrafts 9,805    9,788 
Taxation and Social Security 11,337    95,951 
Other Creditors 392,383    293,195 
532,725    503,264 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 19,275    29,098 
19,275    29,098 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 4,182    5,100 
4,182    5,100 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
25 Class A shares of £0.01 each  
25 Class B shares of £0.01 each  
25 Class C shares of £0.01 each  
25 Class D shares of £0.01 each  
 
Share Capital
The company's share capital is made up of 100 1p shares split into 4 classes.

All classes of shares have equal rights on voting, dividends and capital distribution. 

10.

Controlling Party

The company was under the control of its directors throughout this and the previous year.
2