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REGISTERED NUMBER: SC302500 (Scotland)
















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Lumax Homes (Holdings) Limited

Lumax Homes (Holdings) Limited (Registered number: SC302500)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lumax Homes (Holdings) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mr A Lusk





SECRETARY: Mrs M Lusk





REGISTERED OFFICE: Unit 2
Southhook Road
Kilmarnock
Ayrshire
KA1 2NN





REGISTERED NUMBER: SC302500 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Lumax Homes (Holdings) Limited (Registered number: SC302500)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 186,418 191,371
Investments 5 502,985 502,985
689,403 694,356

CURRENT ASSETS
Debtors 6 850,318 720,415
Cash at bank 12,033 12,033
862,351 732,448
CREDITORS
Amounts falling due within one year 7 224,411 138,338
NET CURRENT ASSETS 637,940 594,110
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,327,343

1,288,466

PROVISIONS FOR LIABILITIES 1,778 1,927
NET ASSETS 1,325,565 1,286,539

CAPITAL AND RESERVES
Called up share capital 1,506 1,506
Share premium 643,762 643,762
Retained earnings 680,297 641,271
SHAREHOLDERS' FUNDS 1,325,565 1,286,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Lumax Homes (Holdings) Limited (Registered number: SC302500)

Balance Sheet - continued
30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 June 2025 and were signed by:





Mr A Lusk - Director


Lumax Homes (Holdings) Limited (Registered number: SC302500)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Lumax Homes (Holdings) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The director reviews the company's and the group's financial requirements and the resources available to meet these requirements on a regular basis. The director also considers the requirements of its related business, Craigie Property Investments Ltd as this could impact on the group's overall position bearing in mind the guarantees provided there. Having carried out this review, the director is confident that the company has adequate resources for the next year and as such the accounts have been prepared on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Lumax Homes (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover/revenue recognition
Sales and work done comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities.Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the company's activities are met.

For incomplete contracts an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the contract, its stage of completion and relevant contract terms. These monies are included as amounts due on contracts.

Lumax Homes (Holdings) Limited (Registered number: SC302500)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investments in subsidiaries
Investments in subsidiary and associated undertakings are recognised at cost with the appropriate impairment review carried out on an annual basis.

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Lumax Homes (Holdings) Limited (Registered number: SC302500)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Dividends on shares wholly recognised as liabilities are recognised as expenses and classified within interest payable.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 225,087 81,855 306,942
DEPRECIATION
At 1 July 2023 35,859 79,712 115,571
Charge for year 4,502 451 4,953
At 30 June 2024 40,361 80,163 120,524
NET BOOK VALUE
At 30 June 2024 184,726 1,692 186,418
At 30 June 2023 189,228 2,143 191,371

Lumax Homes (Holdings) Limited (Registered number: SC302500)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 502,985
NET BOOK VALUE
At 30 June 2024 502,985
At 30 June 2023 502,985

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Name of Company Class of shares Holding

A L Plumbing & Heating Limited Ordinary 100%

Lusk Construction Limited Ordinary 100%

Lumax Homes Limited Ordinary 100%


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 402,097 302,201
Amounts owed by related parties 448,214 418,214
Other debtors 7 -
850,318 720,415

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 176,673 111,116
Taxation and social security 14,610 12,093
Other creditors 33,128 15,129
224,411 138,338

8. RELATED PARTY DISCLOSURES

During previous years the company made advances to Magnum Contracts Limited of £122,552, a company in which the director has a 50% interest. This amount remained outstanding and due as at 30 June 2024.

During the year the company charged £30,000 in relation to management services, to Craigie Property Investments Ltd, a company under the control of Mr & Mrs Lusk. As at 30 June 2024, a sum of £325,662 was due from Craigie Property Investments Ltd (2023: £295,662).

9. CONTROLLING PARTY

The company is controlled by Mr & Mrs Andrew Lusk by virtue of their ownership of 100% of the issued share capital.