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REGISTERED NUMBER: 08711793 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 September 2024

for

LVS Decorative Arts Limited

LVS Decorative Arts Limited (Registered number: 08711793)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LVS Decorative Arts Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Miss L Scolding
Mr N A Butcher





REGISTERED OFFICE: Lewis Farm
Pettaugh Road
Stonham Aspal
STOWMARKET
Suffolk
IP14 6AU





REGISTERED NUMBER: 08711793 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

LVS Decorative Arts Limited (Registered number: 08711793)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,734 10,933

CURRENT ASSETS
Stocks 131,326 155,771
Debtors 5 - 1,606
Cash at bank 31,378 14,778
162,704 172,155
CREDITORS
Amounts falling due within one year 6 17,088 30,321
NET CURRENT ASSETS 145,616 141,834
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,350

152,767

PROVISIONS FOR LIABILITIES 7 1,659 2,077
NET ASSETS 152,691 150,690

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 152,591 150,590
SHAREHOLDERS' FUNDS 152,691 150,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LVS Decorative Arts Limited (Registered number: 08711793)

Balance Sheet - continued
30 September 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 Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





Miss L Scolding - Director


LVS Decorative Arts Limited (Registered number: 08711793)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

LVS Decorative Arts 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

LVS Decorative Arts Limited (Registered number: 08711793)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023
and 30 September 2024 2,637 3,152 48,524 54,313
DEPRECIATION
At 1 October 2023 2,380 2,623 38,377 43,380
Charge for year 64 106 2,029 2,199
At 30 September 2024 2,444 2,729 40,406 45,579
NET BOOK VALUE
At 30 September 2024 193 423 8,118 8,734
At 30 September 2023 257 529 10,147 10,933

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax - 1,606

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 4,382 -
VAT 706 2,121
Accruals and deferred income 10,800 27,000
Accrued expenses 1,200 1,200
17,088 30,321

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,659 2,077

Deferred
tax
£   
Balance at 1 October 2023 2,077
Credit to Income Statement during year (418 )
Balance at 30 September 2024 1,659