Luxury Lodgings Limited 14617474 false 2023-01-26 2024-06-30 2024-06-30 The principal activity of the company is letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true true 14617474 2023-01-26 2024-06-30 14617474 2024-06-30 14617474 core:RetainedEarningsAccumulatedLosses 2024-06-30 14617474 core:ShareCapital 2024-06-30 14617474 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 14617474 core:FurnitureFittings 2024-06-30 14617474 core:FurnitureFittingsToolsEquipment 2024-06-30 14617474 bus:SmallEntities 2023-01-26 2024-06-30 14617474 bus:AuditExemptWithAccountantsReport 2023-01-26 2024-06-30 14617474 bus:FullAccounts 2023-01-26 2024-06-30 14617474 bus:SmallCompaniesRegimeForAccounts 2023-01-26 2024-06-30 14617474 bus:RegisteredOffice 2023-01-26 2024-06-30 14617474 bus:Director1 2023-01-26 2024-06-30 14617474 bus:PrivateLimitedCompanyLtd 2023-01-26 2024-06-30 14617474 core:ComputerEquipment 2023-01-26 2024-06-30 14617474 core:FurnitureFittings 2023-01-26 2024-06-30 14617474 core:FurnitureFittingsToolsEquipment 2023-01-26 2024-06-30 14617474 core:ParentEntities 2023-01-26 2024-06-30 14617474 1 2023-01-26 2024-06-30 14617474 1 2023-01-26 2024-06-30 14617474 countries:EnglandWales 2023-01-26 2024-06-30 iso4217:GBP xbrli:pure

Company registration number: 14617474

Luxury Lodgings Limited

Filleted Annual Report and Unaudited Financial Statements

for the Period from 26 January 2023 to 30 June 2024

 

Luxury Lodgings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Luxury Lodgings Limited

(Registration number: 14617474)
Balance Sheet as at 30 June 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,741

Investment property

5

2,685,047

 

2,686,788

Current assets

 

Debtors

6

67,679

Cash at bank and in hand

 

18,592

 

86,271

Creditors: Amounts falling due within one year

7

(2,710,359)

Net current liabilities

 

(2,624,088)

Total assets less current liabilities

 

62,700

Provisions for liabilities

 

Deferred tax liabilities

 

(8,560)

Net assets

 

54,140

Capital and reserves

 

Called up share capital

1

Profit and loss account

54,139

Total equity

 

54,140

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

 

Luxury Lodgings Limited

(Registration number: 14617474)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 23 October 2024 .
 


Mr Martin Hellier
Director

   
 

Luxury Lodgings Limited

Notes to the Unaudited Financial Statements
for the Period from 26 January 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lupin Way
Yeovil
Somerset
BA22 8WW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£).

Disclosure of long or short period

The reporting period has been extended to a 17 month period ending 30 June 2024.

The director made the decision to change the accounting period end date following a company reorganisation, so that it coincided with other connected entities under common control.


Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for rent. Turnover is shown net of value added tax.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current 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 taxable income.

 

Luxury Lodgings Limited

Notes to the Unaudited Financial Statements
for the Period from 26 January 2023 to 30 June 2024

Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible assets

Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation of tangible assets

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% reducing balance

Computer Equipment

5 years straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Luxury Lodgings Limited

Notes to the Unaudited Financial Statements
for the Period from 26 January 2023 to 30 June 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resouces received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period was 1.

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,360

2,360

At 30 June 2024

2,360

2,360

Depreciation

Charge for the period

619

619

At 30 June 2024

619

619

Carrying amount

At 30 June 2024

1,741

1,741

 

Luxury Lodgings Limited

Notes to the Unaudited Financial Statements
for the Period from 26 January 2023 to 30 June 2024

Fixtures and fittings
£

Total
£

Cost or valuation

Additions

2,360

2,360

At 30 June 2024

2,360

2,360

Depreciation

Charge for the period

619

619

At 30 June 2024

619

619

Carrying amount

At 30 June 2024

1,741

1,741

5

Investment properties

30 June 2024
 £

Additions

2,685,047

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

Trade debtors

750

Prepayments

57,075

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9,854

 

67,679

 

Luxury Lodgings Limited

Notes to the Unaudited Financial Statements
for the Period from 26 January 2023 to 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

65,865

Taxation and social security

11,099

Accruals and deferred income

3,239

Amounts owed to group undertakings and undertakings in which the company has a participating interest

2,630,156

2,710,359

8

Related party transactions

Summary of transactions with parent

The company has taken advantage of the exemptions provided from disclosing transactions with its parent and other wholly owned group companies on the grounds that it is a wholly owned subsidiary.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is Hellier Group Holdings Limited , incorporated in England and Wales.