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DELUXEMODE LIMITED
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03781583
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,340,690 1,340,690
1,340,690 1,340,690
CURRENT ASSETS
Debtors 2,053 6,859
Cash at bank and in hand 17,454 18,139
19,507 24,998
Creditors: Amounts Falling Due Within One Year (5,163 ) (17,244 )
NET CURRENT ASSETS (LIABILITIES) 14,344 7,754
TOTAL ASSETS LESS CURRENT LIABILITIES 1,355,034 1,348,444
Creditors: Amounts Falling Due After More Than One Year 6 (657,102 ) (666,713 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (91,078 ) (78,382 )
NET ASSETS 606,854 603,349
CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 517,730 530,426
Profit and Loss Account 89,122 72,921
SHAREHOLDERS' FUNDS 606,854 603,349
Page 1
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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.
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 Thomas Sennett
Director
28/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Deluxemode Limited Registered number 03781583 is a limited by shares company incorporated in England and Wales. The Registered Office as at the date of the accounts was 10 Carlton Close, London, NW3 7UA
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
Income comprises Rental Income not subject to Value Added Tax 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets represented by Freehold Property is stated at its Valuation per the Director.
The Leasehold costs relate to Initial Legal Costs in respect of the future purchase of a Leasehold Property by the Company
Freehold 0%
Leasehold 0%
Fixtures & Fittings 100%
As furniture has no commercial value the Director felt it correct to write it off in the first year
2.4. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the Balance Sheet at their fair market value.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the Balance Sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at theBalance Sheet date. Deferred Taxation represents the Taxation Payable if the Freehold Property Assets under revaluation had been diosposed of at the Balance Sheet Date
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account, directors report, and notes to the financial statements relating to the Profit and Loss Account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3. Average Number of Employees
Average number of employees, excluding directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Leasehold Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 1,008,666 332,024 5,616 1,346,306
As at 31 August 2024 1,008,666 332,024 5,616 1,346,306
Depreciation
As at 1 September 2023 - - 5,616 5,616
As at 31 August 2024 - - 5,616 5,616
...CONTINUED
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Net Book Value
As at 31 August 2024 1,008,666 332,024 - 1,340,690
As at 1 September 2023 1,008,666 332,024 - 1,340,690
Cost or valuation as at 31 August 2023 represented by:
Land & Property
Freehold Leasehold Fixtures & Fittings Total
£ £ £ £
At cost 399,858 332,024 5,616 737,498
At valuation 608,808 - - 608,808
1,008,666 332,024 5,616 1,346,306
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Freehold Leasehold Total
£ £ £
Cost 399,858 332,024 731,882
5. Investment Property
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 731,882 731,882
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 575,852 575,765
Other creditors 81,250 90,948
657,102 666,713
The Bank Loan is a 10 year Bank Loan, Interest Only, expiring 6th November 2027. Balance outstanding at year end £575,852 (2022 £575765)
7. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 575,852 575,765
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8. Deferred Taxation
The provision for deferred taxation is made up of the tax due in the event of the Revalued Property being disposed of at the Balance Sheet date. Deferred Taxation was written off against Revaluation Account in Reserves.
2024 2023
£ £
Other timing differences 91,078 78,382
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Reserves
Revaluation Reserve
£
As at 1 September 2023 530,426
Deficit on revaluation (12,696)
As at 31 August 2024 517,730
11. Ultimate Controlling Party
The company's ultimate controlling party is the Estate of the late Mrs Josephine Sennett by virtue of his ownership of 100% of the issued share capital in the company as at the Year End. T Sennett and W Sennett are the controlling parties as executors of Mrs J Sennett.
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