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REGISTERED NUMBER: 10976716 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Luxus Design Ltd

Luxus Design Ltd (Registered number: 10976716)






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


Luxus Design Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: L M Birch
D P O`Keefe





SECRETARY:





REGISTERED OFFICE: Rhodes House
6-18 Tulketh Brow
Preston
Lancashire
PR2 2SH





REGISTERED NUMBER: 10976716 (England and Wales)





ACCOUNTANTS: Keith Dodd Accountants Ltd
4a Blundell Crescent
Hillside
Southport
Merseyside
PR8 4RF

Luxus Design Ltd (Registered number: 10976716)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 500,233 570,033
Tangible assets 5 233,466 281,641
733,699 851,674

CURRENT ASSETS
Stocks 789,100 472,280
Debtors 6 316,251 308,954
Cash at bank and in hand 589,582 481,115
1,694,933 1,262,349
CREDITORS
Amounts falling due within one year 7 1,575,471 1,166,320
NET CURRENT ASSETS 119,462 96,029
TOTAL ASSETS LESS CURRENT
LIABILITIES

853,161

947,703

CREDITORS
Amounts falling due after more than one
year

8

(295,003

)

(493,170

)

PROVISIONS FOR LIABILITIES (22,629 ) (25,446 )
NET ASSETS 535,529 429,087

CAPITAL AND RESERVES
Called up share capital 20 2
Retained earnings 535,509 429,085
535,529 429,087

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.

Luxus Design Ltd (Registered number: 10976716)

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 6 February 2025 and were signed on its behalf by:




L M Birch - Director



D P O`Keefe - Director


Luxus Design Ltd (Registered number: 10976716)

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

1. STATUTORY INFORMATION

Luxus Design Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance and 15% 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.

Luxus Design Ltd (Registered number: 10976716)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 698,000
AMORTISATION
At 1 October 2023 127,967
Charge for year 69,800
At 30 September 2024 197,767
NET BOOK VALUE
At 30 September 2024 500,233
At 30 September 2023 570,033

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 335,654
Additions 36,615
Disposals (79,975 )
At 30 September 2024 292,294
DEPRECIATION
At 1 October 2023 54,013
Charge for year 35,325
Eliminated on disposal (30,510 )
At 30 September 2024 58,828
NET BOOK VALUE
At 30 September 2024 233,466
At 30 September 2023 281,641

Luxus Design Ltd (Registered number: 10976716)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 192,122 187,064
Other debtors 124,129 121,890
316,251 308,954

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 106,569 60,150
Hire purchase contracts - 9,518
Trade creditors 1,050,425 683,248
Taxation and social security 268,456 226,193
Other creditors 150,021 187,211
1,575,471 1,166,320

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 295,003 442,391
Hire purchase contracts - 50,779
295,003 493,170