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Company Registration No. 8011856 (England and Wales)
Luxury Living Retail Limited Unaudited accounts for the year ended 31 July 2024
Luxury Living Retail Limited Unaudited accounts Contents
Page
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Luxury Living Retail Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
36,210 
2,986 
Current assets
Inventories
242,580 
537,300 
Debtors
321,354 
281,354 
Cash at bank and in hand
74,350 
202,799 
638,284 
1,021,453 
Creditors: amounts falling due within one year
(493,769)
(882,652)
Net current assets
144,515 
138,801 
Net assets
180,725 
141,787 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
180,625 
141,687 
Shareholders' funds
180,725 
141,787 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 March 2025 and were signed on its behalf by
P Chumber Director Company Registration No. 8011856
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Luxury Living Retail Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Luxury Living Retail Limited is a private company, limited by shares, registered in England and Wales, registration number 8011856. The registered office is 49 Mountford Lane, Bilston, West Midlands, WV14 6PY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25 % on the reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Luxury Living Retail Limited Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 August 2023
16,760 
Additions
46,808 
Disposals
(8,500)
At 31 July 2024
55,068 
Depreciation
At 1 August 2023
13,774 
Charge for the year
12,069 
On disposals
(6,985)
At 31 July 2024
18,858 
Net book value
At 31 July 2024
36,210 
At 31 July 2023
2,986 
5
Inventories
2024 
2023 
£ 
£ 
Finished goods
242,580 
537,300 
242,580 
537,300 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
321,354 
281,354 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
18,561 
28,447 
VAT
767 
4,599 
Trade creditors
410,404 
844,592 
Taxes and social security
26,537 
5,014 
Other creditors
37,500 
- 
493,769 
882,652 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 12 (2023: 13).
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