10 10 Lux Events Limited SC426928 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of event management. Digita Accounts Production Advanced 6.30.9574.0 true true true SC426928 2023-07-01 2024-06-30 SC426928 2024-06-30 SC426928 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-06-30 SC426928 core:CurrentFinancialInstruments 2024-06-30 SC426928 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 SC426928 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 SC426928 core:FurnitureFittingsToolsEquipment 2024-06-30 SC426928 bus:SmallEntities 2023-07-01 2024-06-30 SC426928 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC426928 bus:FilletedAccounts 2023-07-01 2024-06-30 SC426928 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC426928 bus:RegisteredOffice 2023-07-01 2024-06-30 SC426928 bus:CompanySecretaryDirector2 2023-07-01 2024-06-30 SC426928 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-07-01 2024-06-30 SC426928 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC426928 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 SC426928 core:OfficeEquipment 2023-07-01 2024-06-30 SC426928 1 2023-07-01 2024-06-30 SC426928 countries:Scotland 2023-07-01 2024-06-30 SC426928 2023-06-30 SC426928 core:FurnitureFittingsToolsEquipment 2023-06-30 SC426928 2022-07-01 2023-06-30 SC426928 2023-06-30 SC426928 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-06-30 SC426928 core:CurrentFinancialInstruments 2023-06-30 SC426928 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC426928 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 SC426928 core:FurnitureFittingsToolsEquipment 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: SC426928

Lux Events Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Lux Events Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Lux Events Limited

(Registration number: SC426928)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,655

5,530

Current assets

 

Debtors

5

138,992

60,670

Cash at bank and in hand

 

33,664

74,926

 

172,656

135,596

Creditors: Amounts falling due within one year

6

(167,960)

(99,820)

Net current assets

 

4,696

35,776

Total assets less current liabilities

 

9,351

41,306

Creditors: Amounts falling due after more than one year

6

(9,167)

(19,166)

Net assets

 

184

22,140

Capital and reserves

 

Called up share capital

100

100

Retained earnings

84

22,040

Shareholders' funds

 

184

22,140

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 


Ms Elise Macdonald
Company secretary and director

 

Lux Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
41 Craighouse Gardens
Edinburgh
Lothian
EH10 5LR
Scotland

These financial statements were authorised for issue by the Board on 31 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Lux Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equiptment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade debtors are reviewed annually, with bad debts being written off in the profit and loss account.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

Lux Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 10).

 

Lux Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

21,345

21,345

Additions

1,428

1,428

At 30 June 2024

22,773

22,773

Depreciation

At 1 July 2023

15,815

15,815

Charge for the year

2,303

2,303

At 30 June 2024

18,118

18,118

Carrying amount

At 30 June 2024

4,655

4,655

At 30 June 2023

5,530

5,530

5

Debtors

Current

2024
£

2023
£

Trade debtors

44,077

16,152

Prepayments

4,032

2,880

Other debtors

90,883

41,638

 

138,992

60,670

 

Lux Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

66,141

15,558

Taxation and social security

 

13,022

17,585

Accruals and deferred income

 

77,419

55,699

Other creditors

 

1,378

978

 

167,960

99,820

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9,167

19,166


Included in loans and borrowings is £10,000 (2023: £10,000) relating to a loan acquired under the Bounce Back Loan Scheme (BBLS) which is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy. The amount due more than one year is £9,167 (2023: £19,166).

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Dividends

2024

2023

£

£

Interim dividend of £19.30 (2023 - £827.70) per ordinary share

19,300

82,770

 

 
 

Lux Events Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Financial commitments

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £33,436 (2023 - £22,369). The company has a lease on their office printer. The total amount disclosed of £4,036 (2023: £369) is the total amount due to the expiration of the lease in January 2029.

The company also has a lease on their business premises. The total amount disclosed of £29,400 (2023: £22,000) is to the expiration of the lease in March 2026.

10

Related party transactions

Other transactions with directors

At the balance sheet date, the directors owed the company £74,456 (2023: £22,335). There are to terms for repayment and interest is being charged on the balance.

11

Ultimate controlling party

The ultimate controlling party is Elise Macdonald and Joanne Lynn, by virtue of their shareholding.