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Registered number: 14617996
Luxury City Apartments Ltd
Unaudited Financial Statements
For the Period 26 January 2023 to 30 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14617996
30 January 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 6,944
6,944
CURRENT ASSETS
Debtors 5 4,017
Cash at bank and in hand 1,090
5,107
Creditors: Amounts Falling Due Within One Year 6 (20,567 )
NET CURRENT ASSETS (LIABILITIES) (15,460 )
TOTAL ASSETS LESS CURRENT LIABILITIES (8,516 )
NET LIABILITIES (8,516 )
CAPITAL AND RESERVES
Called up share capital 7 1
Profit and Loss Account (8,517 )
SHAREHOLDERS' FUNDS (8,516)
Page 1
Page 2
For the period ending 30 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Adnan Mahmood Ali
Director
20 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Luxury City Apartments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14617996 . The registered office is 86-90 Paul Street, London, England, EC2A 4NE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors believe that the company would have sufficient resources to continue to trade for foreseeable future.
2.3. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from short term lettings
The company generates rental income by taking properties on lease and letting them out on a short-term basis through different platforms. Rental income is recognised in the income statement on a per-night or per-stay basis, in line with the period the property is occupied by guests. Revenue is recorded on an accruals basis, reflecting the company’s performance obligations as they are met.
Service charge income is recognised as revenue in the period to which it relates.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Furniture, fixtures and equipment 20% reducing balance method
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
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4. Tangible Assets
Furniture, fixtures and equipment
£
Cost
As at 26 January 2023 -
Additions 8,680
As at 30 January 2024 8,680
Depreciation
As at 26 January 2023 -
Provided during the period 1,736
As at 30 January 2024 1,736
Net Book Value
As at 30 January 2024 6,944
As at 26 January 2023 -
5. Debtors
30 January 2024
£
Due within one year
Prepayments and accrued income 402
Due after more than one year
Other debtors 3,615
4,017
6. Creditors: Amounts Falling Due Within One Year
30 January 2024
£
Accruals and deferred income 2,158
Director's loan account 18,409
20,567
7. Share Capital
30 January 2024
£
Allotted, Called up and fully paid 1
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8. Related Party Transactions
Included in creditors due within one year is an amount of £18,409 owed by its director. The amount is interest free and repayable on demand.
9. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of the ownership of 100% of the issued share capital in the company.
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