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REGISTERED NUMBER: 09439462 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

LUXURY LETS LYTHAM LIMITED

LUXURY LETS LYTHAM LIMITED (REGISTERED NUMBER: 09439462)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LUXURY LETS LYTHAM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Miss R Grant





REGISTERED OFFICE: Unit 12
Linwood Workshops
Linwood Lane
Leicester
Leicestershire
LE2 6QJ





REGISTERED NUMBER: 09439462 (England and Wales)

LUXURY LETS LYTHAM LIMITED (REGISTERED NUMBER: 09439462)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,938 9,215
Investment property 5 818,404 622,000
832,342 631,215

CURRENT ASSETS
Cash at bank 19,465 141,411

CREDITORS
Amounts falling due within one year 6 802,063 773,589
NET CURRENT LIABILITIES (782,598 ) (632,178 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,744

(963

)

PROVISIONS FOR LIABILITIES 7 24,116 -
NET ASSETS/(LIABILITIES) 25,628 (963 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 113,008 92,678
Retained earnings (87,480 ) (93,741 )
SHAREHOLDERS' FUNDS 25,628 (963 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LUXURY LETS LYTHAM LIMITED (REGISTERED NUMBER: 09439462)

BALANCE SHEET - continued
29 FEBRUARY 2024


The 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.

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





Miss R Grant - Director


LUXURY LETS LYTHAM LIMITED (REGISTERED NUMBER: 09439462)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Luxury Lets Lytham Limited 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern
The financial statements have been prepared on a going concern basis. Continuing to trade depends on the continued support of the company's director and shareholder. Should the company be unable to continue to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for any further liabilities which might arise and to re-classify fixed assets as current assets.

Turnover
Turnover is recognised over the period to which property is let out.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


LUXURY LETS LYTHAM LIMITED (REGISTERED NUMBER: 09439462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023 27,266
Additions 6,204
At 29 February 2024 33,470
DEPRECIATION
At 1 March 2023 18,051
Charge for year 1,481
At 29 February 2024 19,532
NET BOOK VALUE
At 29 February 2024 13,938
At 28 February 2023 9,215

LUXURY LETS LYTHAM LIMITED (REGISTERED NUMBER: 09439462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 622,000
Additions 138,404
Revaluations 58,000
At 29 February 2024 818,404
NET BOOK VALUE
At 29 February 2024 818,404
At 28 February 2023 622,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 818,404

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 712,436 574,032

The investment properties were revalued in 2024 by the director after reviewing the market. The director has reviewed the investment property valuation during the year and has deemed the current valuation as appropriate.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 802,063 773,589

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 3,485 -
Tax losses carried forward (17,038 ) -
Taxation on revaluation 37,669 -
24,116 -

LUXURY LETS LYTHAM LIMITED (REGISTERED NUMBER: 09439462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Movement in year 24,116
Balance at 29 February 2024 24,116

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
value
reserve
£   
At 1 March 2023 92,678
Revaluation in year 57,999
Transfer (37,669 )

At 29 February 2024 113,008

10. RELATED PARTY DISCLOSURES

At the year end the company owes £799,412 (2023: £771,154) to Carnero Holdings Limited in which Ms R Grant is also a director.