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Company registration number: 14009968







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024


LUSH INDUSTRIES LIMITED






































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LUSH INDUSTRIES LIMITED
 


 
COMPANY INFORMATION


Director
G A Lush 




Registered number
14009968



Registered office
128 Great North Road

Hatfield

AL9 5JN




Accountants
Menzies LLP, Stevenage
Chartered accountants

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP





 


LUSH INDUSTRIES LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6


 


LUSH INDUSTRIES LIMITED
REGISTERED NUMBER:14009968



STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
700,000
700,000

  
700,000
700,000

Current assets
  

Debtors: amounts falling due within one year
 5 
-
5,375

Current asset investments
 6 
999,693
628,139

Cash at bank and in hand
  
11,217
107,905

  
1,010,910
741,419

Creditors: amounts falling due within one year
 7 
(139,119)
(18,275)

Net current assets
  
 
 
871,791
 
 
723,144

Total assets less current liabilities
  
1,571,791
1,423,144

Provisions for liabilities
  

Deferred tax
  
(17,984)
-

  
 
 
(17,984)
 
 
-

Net assets
  
1,553,807
1,423,144


Capital and reserves
  

Called up share capital 
  
1,400,045
1,400,045

Profit and loss account
  
153,762
23,099

  
1,553,807
1,423,144


Page 1

 


LUSH INDUSTRIES LIMITED
REGISTERED NUMBER:14009968


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
G A Lush
Director

Date: 29 January 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


LUSH INDUSTRIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Lush Industries Limited is a private company, limited by shares, registered in England and Wales. The companys 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 


LUSH INDUSTRIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the companys statement of financial position when the company becomes party to the contractual provisions of the instrument. 


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 


LUSH INDUSTRIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
700,000



At 30 September 2024
700,000

The 2024 valuations were made by the director, on an open market value for existing use basis.





5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
-
5,375

-
5,375



6.


Current asset investments

2024
2023
£
£

Investments
999,693
628,139

999,693
628,139



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
119,625
-

Corporation tax
13,635
12,899

Other creditors
5,859
5,376

139,119
18,275


Page 5

 


LUSH INDUSTRIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Related party transactions

At the balance sheet date, the company owed £483 (2023: £0) to the director. The balance can be found within creditors due within one year. No interest is being charged on this loan.
At the balance sheet date, the company owed £119,625 (2023: was owed £5,375) to connected companies. This balance can be found within creditors due within one year and no interest is being charged on this loan.

 
Page 6