IRIS Accounts Production v25.1.3.33 09619451 director 1.9.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh096194512023-08-31096194512024-08-31096194512023-09-012024-08-31096194512022-05-31096194512022-06-012023-08-31096194512023-08-3109619451ns15:EnglandWales2023-09-012024-08-3109619451ns14:PoundSterling2023-09-012024-08-3109619451ns10:Director12023-09-012024-08-3109619451ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3109619451ns10:SmallEntities2023-09-012024-08-3109619451ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3109619451ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3109619451ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3109619451ns10:FullAccounts2023-09-012024-08-3109619451ns10:RegisteredOffice2023-09-012024-08-3109619451ns5:CurrentFinancialInstruments2024-08-3109619451ns5:CurrentFinancialInstruments2023-08-3109619451ns5:Non-currentFinancialInstruments2024-08-3109619451ns5:Non-currentFinancialInstruments2023-08-3109619451ns5:ShareCapital2024-08-3109619451ns5:ShareCapital2023-08-3109619451ns5:RetainedEarningsAccumulatedLosses2024-08-3109619451ns5:RetainedEarningsAccumulatedLosses2023-08-3109619451ns5:PlantMachinery2023-09-012024-08-3109619451ns5:PlantMachinery2023-08-3109619451ns5:PlantMachinery2024-08-3109619451ns5:PlantMachinery2023-08-3109619451ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3109619451ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3109619451ns5:Secured2024-08-3109619451ns5:Secured2023-08-31
REGISTERED NUMBER: 09619451 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

LUXURY WATCH REPAIRS LIMITED

LUXURY WATCH REPAIRS LIMITED (REGISTERED NUMBER: 09619451)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LUXURY WATCH REPAIRS LIMITED

COMPANY INFORMATION
for the Year Ended 31 AUGUST 2024







DIRECTOR: O M Pollock





REGISTERED OFFICE: 16-18 Hatton Garden
London
EC1N 8AT





REGISTERED NUMBER: 09619451 (England and Wales)





ACCOUNTANTS: SRG Newmans Limited
Five Ways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS

LUXURY WATCH REPAIRS LIMITED (REGISTERED NUMBER: 09619451)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 96,436 98,754

CURRENT ASSETS
Stocks 97,161 90,000
Debtors 5 511,977 468,821
Cash at bank and in hand 23,409 56,006
632,547 614,827
CREDITORS
Amounts falling due within one year 6 583,111 436,665
NET CURRENT ASSETS 49,436 178,162
TOTAL ASSETS LESS CURRENT
LIABILITIES

145,872

276,916

CREDITORS
Amounts falling due after more than one
year

7

88,459

86,871
NET ASSETS 57,413 190,045

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 57,411 190,043
57,413 190,045

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LUXURY WATCH REPAIRS LIMITED (REGISTERED NUMBER: 09619451)

BALANCE SHEET - continued
31 AUGUST 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 May 2025 and were signed by:





O M Pollock - Director


LUXURY WATCH REPAIRS LIMITED (REGISTERED NUMBER: 09619451)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 AUGUST 2024

1. STATUTORY INFORMATION

Luxury Watch Repairs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

LUXURY WATCH REPAIRS LIMITED (REGISTERED NUMBER: 09619451)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 183,071
Additions 4,347
At 31 August 2024 187,418
DEPRECIATION
At 1 September 2023 84,317
Charge for year 6,665
At 31 August 2024 90,982
NET BOOK VALUE
At 31 August 2024 96,436
At 31 August 2023 98,754

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,320 25,581
Other debtors 501,657 443,240
511,977 468,821

LUXURY WATCH REPAIRS LIMITED (REGISTERED NUMBER: 09619451)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 AUGUST 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 102,343 67,401
Trade creditors 191,459 208,527
Taxation and social security 164,150 44,675
Other creditors 125,159 116,062
583,111 436,665

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 88,459 86,871

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 146,644 145,056

There is a fixed and floating charge in relation to the loan.

9. RELATED PARTY DISCLOSURES

Last year, the company made a loan to a director and a shareholder, which is being repaid.

At the year end, included within other debtors, is a loan to the director, Mr O Pollock, amounting to £157,517 (2023: £94,232).

At the year end, included within other debtors, is a loan to a majority shareholder, amounting to £157,517 (2023: £94,232).

Both loans are not subject to interest and are being repaid.


Included within other debtors is a balance of £8,000 (2023 - £46,027) due from Luxury Watch Repairs Retail Limited, a company owned by Mr O Pollock and Mrs T Pollock.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr O Pollock and Mrs T Pollock, by virtue of their shareholding.