Company Registration No. 10312538 (England and Wales)
Lusso Properties Limited
Unaudited accounts
for the year ended 31 August 2024
Lusso Properties Limited
Unaudited accounts
Contents
Lusso Properties Limited
Company Information
for the year ended 31 August 2024
Directors
E M Oakes
C N Oakes
Company Number
10312538 (England and Wales)
Registered Office
Primary House
Spring Gardens
Macclesfield
Cheshire
SK10 2DX
United Kingdom
Accountants
Taylor Consultancy, Chartered Certified Accountants
Primary House
Spring Gardens
Macclesfield
Cheshire
SK10 2DX
Lusso Properties Limited
Statement of financial position
as at 31 August 2024
Inventories
1,926,944
1,852,124
Cash at bank and in hand
4,867
1
Creditors: amounts falling due within one year
(1,943,024)
(1,867,974)
Net current liabilities
(11,213)
(15,849)
Net liabilities
(11,213)
(15,849)
Called up share capital
1
1
Profit and loss account
(11,214)
(15,850)
Shareholders' funds
(11,213)
(15,849)
For the year ending 31 August 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 directors acknowledge their 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 of Directors and authorised for issue on 14 May 2025 and were signed on its behalf by
C N Oakes
Director
Company Registration No. 10312538
Lusso Properties Limited
Notes to the Accounts
for the year ended 31 August 2024
Lusso Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10312538. The registered office is Primary House, Spring Gardens, Macclesfield, Cheshire, SK10 2DX, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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.
4
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,400,000
1,403,215
Amounts owed to group undertakings and other participating interests
537,274
400,000
Loans from directors
-
64,009
The bank loan of 1,400,000 ( 2023 £1,400,000 ) is secured by a floating charge over the assets of the company.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Lusso Properties Limited
Notes to the Accounts
for the year ended 31 August 2024
6
Transactions with related parties
Mr C Oakes is a director and ultimate shareholder in both Lusso Properties Limited and Luxury Old World Holdings Limited.
At the balance sheet date Luxury Old World Holdings Limited was owed £537,274 ( 2023 - £Nil ) by Lusso Properties Limited. The loan is repayable upon demand and is subject to interest at a commercial rate.
Lusso Properties Limited is a 100% owned subsidiary company of Luxury Rental Holdings Limited, a company registered in England & Wales under company number 13305350.
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).