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Company registration number: 10794254
Luminaire Events Ltd
Unaudited filleted financial statements
31 January 2024
Luminaire Events Ltd
Contents
Statement of financial position
Notes to the financial statements
Luminaire Events Ltd
Statement of financial position
31 January 2024
31/01/24 31/12/23
Note £ £ £ £
Fixed assets
Intangible assets 5 2 2
Tangible assets 6 312,253 266,344
_______ _______
312,255 266,346
Current assets
Debtors 7 126,653 250,660
Cash at bank and in hand 76,713 6,063
_______ _______
203,366 256,723
Creditors: amounts falling due
within one year 8 ( 444,153) ( 445,200)
_______ _______
Net current liabilities ( 240,787) ( 188,477)
_______ _______
Total assets less current liabilities 71,468 77,869
Creditors: amounts falling due
after more than one year 9 ( 61,177) ( 91,252)
_______ _______
Net assets/(liabilities) 10,291 ( 13,383)
_______ _______
Capital and reserves
Called up share capital 200,001 1
Profit and loss account ( 189,710) ( 13,384)
_______ _______
Shareholders funds/(deficit) 10,291 ( 13,383)
_______ _______
For the period ending 31 January 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 financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
W Greenhalgh
Director
Company registration number: 10794254
Luminaire Events Ltd
Notes to the financial statements
Period ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Luminaire House, 69 Weir Road, Wimbledon, SW19 8UG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - Over 9 years of lease
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 20 % reducing balance
Computer Equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 18 (2023: 13 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2023 and 31 January 2024 16,057 16,057
_______ _______
Amortisation
At 1 January 2023 and 31 January 2024 16,055 16,055
_______ _______
Carrying amount
At 31 January 2024 2 2
_______ _______
At 31 December 2023 2 2
_______ _______
6. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Computer Equipment Total
£ £ £ £ £ £
Cost
At 1 January 2023 12,487 37,719 291,679 62,108 18,460 422,453
Additions 39,109 15,090 57,878 18,995 5,757 136,829
_______ _______ _______ _______ _______ _______
At 31 January 2024 51,596 52,809 349,557 81,103 24,217 559,282
_______ _______ _______ _______ _______ _______
Depreciation
At 1 January 2023 - 6,412 116,988 25,346 7,363 156,109
Charge for the year 5,733 11,210 55,875 14,072 4,030 90,920
_______ _______ _______ _______ _______ _______
At 31 January 2024 5,733 17,622 172,863 39,418 11,393 247,029
_______ _______ _______ _______ _______ _______
Carrying amount
At 31 January 2024 45,863 35,187 176,694 41,685 12,824 312,253
_______ _______ _______ _______ _______ _______
At 31 December 2023 12,487 31,307 174,691 36,762 11,097 266,344
_______ _______ _______ _______ _______ _______
7. Debtors
31/01/24 31/12/23
£ £
Trade debtors 35,339 148,983
Other debtors 91,314 101,677
_______ _______
126,653 250,660
_______ _______
8. Creditors: amounts falling due within one year
31/01/24 31/12/23
£ £
Bank loans and overdrafts 21,670 16,826
Trade creditors 140,814 111,166
Corporation tax - ( 3,266)
Social security and other taxes 42,145 16,470
Other creditors 239,524 304,004
_______ _______
444,153 445,200
_______ _______
9. Creditors: amounts falling due after more than one year
31/01/24 31/12/23
£ £
Other creditors 61,177 91,252
_______ _______
10. Directors advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
Period ended 31/01/24
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
W Greenhalgh ( 270,134) 129,594 ( 140,540)
_______ _______ _______
Year ended 31/12/23
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
W Greenhalgh ( 51,912) ( 218,221) (270,133)
_______ _______ _______