Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31162023-02-01falsefalsetrueNo description of principal activity17trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06801342 2023-02-01 2024-01-31 06801342 2022-02-01 2023-01-31 06801342 2024-01-31 06801342 2023-01-31 06801342 c:Director1 2023-02-01 2024-01-31 06801342 d:PlantMachinery 2023-02-01 2024-01-31 06801342 d:PlantMachinery 2024-01-31 06801342 d:PlantMachinery 2023-01-31 06801342 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06801342 d:MotorVehicles 2023-02-01 2024-01-31 06801342 d:MotorVehicles 2024-01-31 06801342 d:MotorVehicles 2023-01-31 06801342 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06801342 d:FurnitureFittings 2023-02-01 2024-01-31 06801342 d:FurnitureFittings 2024-01-31 06801342 d:FurnitureFittings 2023-01-31 06801342 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06801342 d:ComputerEquipment 2023-02-01 2024-01-31 06801342 d:ComputerEquipment 2024-01-31 06801342 d:ComputerEquipment 2023-01-31 06801342 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06801342 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06801342 d:CurrentFinancialInstruments 2024-01-31 06801342 d:CurrentFinancialInstruments 2023-01-31 06801342 d:Non-currentFinancialInstruments 2024-01-31 06801342 d:Non-currentFinancialInstruments 2023-01-31 06801342 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 06801342 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 06801342 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 06801342 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 06801342 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 06801342 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 06801342 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 06801342 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 06801342 d:ShareCapital 2024-01-31 06801342 d:ShareCapital 2023-01-31 06801342 d:RetainedEarningsAccumulatedLosses 2024-01-31 06801342 d:RetainedEarningsAccumulatedLosses 2023-01-31 06801342 c:FRS102 2023-02-01 2024-01-31 06801342 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 06801342 c:FullAccounts 2023-02-01 2024-01-31 06801342 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06801342 d:WithinOneYear 2024-01-31 06801342 d:WithinOneYear 2023-01-31 06801342 d:BetweenOneFiveYears 2024-01-31 06801342 d:BetweenOneFiveYears 2023-01-31 06801342 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 06801342 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 06801342 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-01-31 06801342 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 06801342 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Company registration number: 06801342







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2024


LUXRITE LTD






































img48f8.png                        

 


LUXRITE LTD
REGISTERED NUMBER:06801342



STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
50,653
2,203

  
50,653
2,203

Current assets
  

Stocks
  
871,550
880,801

Debtors: amounts falling due within one year
 5 
276,352
226,976

Cash at bank and in hand
  
296,007
202,374

  
1,443,909
1,310,151

Creditors: amounts falling due within one year
 6 
(567,672)
(427,883)

Net current assets
  
 
 
876,237
 
 
882,268

Total assets less current liabilities
  
926,890
884,471

Creditors: amounts falling due after more than one year
 7 
(37,649)
(44,298)

  

Net assets
  
889,241
840,173


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
888,241
839,173

  
889,241
840,173


Page 1

 


LUXRITE LTD
REGISTERED NUMBER:06801342


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
C P Luo
Director

Date: 10 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


LUXRITE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Luxrite 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.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 


LUXRITE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 


LUXRITE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance basis..

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight-line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
straight-line
Computer equipment
-
33%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 


LUXRITE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 16).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
163
-
10,947
19,020
30,130


Additions
-
60,059
-
2,422
62,481



At 31 January 2024

163
60,059
10,947
21,442
92,611



Depreciation


At 1 February 2023
163
-
9,846
17,918
27,927


Charge for the year on owned assets
-
12,512
384
1,135
14,031



At 31 January 2024

163
12,512
10,230
19,053
41,958



Net book value



At 31 January 2024
-
47,547
717
2,389
50,653



At 31 January 2023
-
-
1,101
1,102
2,203


5.


Debtors

2024
2023
£
£
Page 6

 


LUXRITE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.Debtors (continued)



Trade debtors
205,252
170,048

Amounts owed by joint ventures and associated undertakings
80
82

Other debtors
16,766
16,766

Prepayments and accrued income
54,254
40,080

276,352
226,976



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
18,182
18,182

Trade creditors
67,788
17,477

Corporation tax
53,398
53,071

Other taxation and social security
207,066
190,309

Obligations under finance lease and hire purchase contracts
9,885
-

Other creditors
209,353
146,844

Accruals and deferred income
2,000
2,000

567,672
427,883



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
26,117
44,298

Net obligations under finance leases and hire purchase contracts
11,532
-

37,649
44,298


Page 7

 


LUXRITE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
18,182
18,182


18,182
18,182

Amounts falling due 1-2 years

Bank loans
18,182
18,182


18,182
18,182

Amounts falling due 2-5 years

Bank loans
7,935
26,116


7,935
26,116


44,299
62,480



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
9,885
-

Between 1-5 years
11,532
-

21,417
-


10.


Transactions with directors

At the balance sheet date the company owed £207,421 to the directors. The balance can be found within creditors due within one year. No interest is being charged on this loan.

Page 8

 


LUXRITE LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
83,500
83,500

Later than 1 year and not later than 5 years
97,417
167,000

180,917
250,500

 
Page 9