Registered number
10619117
Luxury Lifestyle Ltd
Filleted Accounts
29 February 2024
Luxury Lifestyle Ltd
Registered number: 10619117
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Current assets
Investments held as current assets 3 50,000 50,000
Cash at bank and in hand 8,202 10,486
58,202 60,486
Creditors: amounts falling due within one year 4 (24,025) (37,147)
Net current assets 34,177 23,339
Total assets less current liabilities 34,177 23,339
Creditors: amounts falling due after more than one year 5 (8,633) (12,580)
Net assets 25,544 10,759
Capital and reserves
Called up share capital 1 1
Profit and loss account 25,543 10,758
Shareholders' funds 25,544 10,759
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Keiran Chang
Director
Approved by the board on 27 February 2025
Luxury Lifestyle Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 50,000 50,000
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,472 4,472
Corporation tax 3,475 5,097
Other taxes and social security costs - 146
Other creditors 16,078 27,432
24,025 37,147
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,633 12,580
6 Other information
Luxury Lifestyle Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Harmer Street
Gravesend
Kent
DA12 2AX
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