Luxury Homeware Limited
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Enter data in the white spaces Enter numbers as + unless indicated Current year Comparative
Units (eg £ or £000) £ include a trailing space
Company registration number 08856004
Date
Approval date of the accounts by the board 23/09/2024
Date
Date of signing on the audit/accountants report 23/09/2024
Date of engagement letter (required for Date
CA and ACCA reports)
Person signing directors' report:
Name of director Nadeem Tufail
Or, name of secretary
Name of director signing balance sheet Nadeem Tufail
Address of registered office:
Address line 1 Suite 2, Parkway 5
Address line 2 300 Princess Road
City or town Manchester
County or region England
Postcode M14 7HR
Name of senior statutory auditor
Name of auditors/accountants ClearCut Accounting Limited
Type of firm (eg Chartered Accountants) Accountants
Address of auditors/accountants
Address line 1 Suite 2, Parkway 5
Address line 2 Parkway Business Centre
City or town 300 Princess Road
County or region Manchester
Postcode M14 7HR
Prior year adjustments (+ for a gain; - for a loss) £
Correction of prior year errors
Effect of retrospective changes in accounting policies
More info on prior year adjustments
Number Number
Average number of persons employed by the company 3 1
Freehold land & buildings if
revalued amounts shown in trial balance: £ £
historical cost
cumulative depreciation based on cost
Historical cost of fixed asset investments £ £
Investments in subsidiaries
Other investments
£ £
Amounts due after more than one year included in debtors
Amounts included in creditors falling due for payment
after more than five years: £ £
Payable otherwise than by installment
Payable by installment
£ £
Secured bank loans included in creditors
Capital commitments: £ £
contracted
Total future payments due under non-cancellable £ £
operating leases
Registered number
08856004
Luxury Homeware Limited
Filleted Accounts
31 January 2024
Luxury Homeware Limited
Registered number: 08856004
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Current assets
Stocks 30,550 20,950
Debtors 4 3,461 1,543
Cash at bank and in hand 5,953 17,013
39,964 39,506
Creditors: amounts falling due within one year 5 (39,514) (43,403)
Net current assets/(liabilities) 450 (3,897)
Net assets/(liabilities) 450 (3,897)
Capital and reserves
Called up share capital 100 100
Profit and loss account 350 (3,997)
Shareholders' funds 450 (3,897)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Nadeem Tufail
Director
Approved by the board on 23 September 2024
Luxury Homeware Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers & equipment 33.33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 557
At 31 January 2024 557
Depreciation
At 1 February 2023 557
At 31 January 2024 557
Net book value
At 31 January 2024 -
4 Debtors 2024 2023
£ £
Trade debtors 3,461 1,140
Other debtors - 403
3,461 1,543
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 22,058 26,029
Trade creditors 10,702 6,211
Taxation and social security costs 6,754 11,163
39,514 43,403
6 Other information
Luxury Homeware Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 2, Parkway 5
300 Princess Road
Manchester
England
M14 7HR
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