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Registered number: 10262594
Luxury Living Development Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
MoynanSmith
Chartered Accountants & Tax Advisers
Unit 4 Clifford Court
Cooper Way
Carlisle
Cumbria
CA3 0JG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10262594
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 64,044 64,044
Investments 5 5,172 -
69,216 64,044
CURRENT ASSETS
Stocks 1,472,717 876,602
Debtors 6 216,973 -
Cash at bank and in hand 26,003 576,685
1,715,693 1,453,287
Creditors: Amounts Falling Due Within One Year 7 (996,493 ) (834,249 )
NET CURRENT ASSETS (LIABILITIES) 719,200 619,038
TOTAL ASSETS LESS CURRENT LIABILITIES 788,416 683,082
NET ASSETS 788,416 683,082
CAPITAL AND RESERVES
Called up share capital 8 5,000 5,000
Profit and Loss Account 783,416 678,082
SHAREHOLDERS' FUNDS 788,416 683,082
Page 1
Page 2
For the year ending 31 March 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
Mr Bruno Catalao-Herdeiro
Director
21 March 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Luxury Living Development Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10262594 . The registered office is Scalesceugh Hall, Carleton, Carlisle, CA4 0BT.
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. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Freehold 50 years straight line
The director considers the current net book value of freehold property to be a reasonable estimate of the residual value.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 April 2023 64,044
As at 31 March 2024 64,044
Net Book Value
As at 31 March 2024 64,044
As at 1 April 2023 64,044
Page 3
Page 4
5. Investments
Unlisted
£
Cost
As at 1 April 2023 -
Additions 5,172
As at 31 March 2024 5,172
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 5,172
As at 1 April 2023 -
Unlisted investments are included at historical cost.
6. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 118,174 -
Other debtors 98,799 -
216,973 -
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Director's loan account 996,493 834,249
8. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 5,000 5,000
Page 4