Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-3063falsefalse2023-12-0162truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14038116 2023-12-01 2024-11-30 14038116 2022-12-01 2023-11-30 14038116 2024-11-30 14038116 2023-11-30 14038116 c:Director1 2023-12-01 2024-11-30 14038116 d:Buildings 2023-12-01 2024-11-30 14038116 d:Buildings 2024-11-30 14038116 d:Buildings 2023-11-30 14038116 d:Buildings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 14038116 d:Buildings d:LongLeaseholdAssets 2023-12-01 2024-11-30 14038116 d:Buildings d:LongLeaseholdAssets 2024-11-30 14038116 d:Buildings d:LongLeaseholdAssets 2023-11-30 14038116 d:PlantMachinery 2023-12-01 2024-11-30 14038116 d:PlantMachinery 2024-11-30 14038116 d:PlantMachinery 2023-11-30 14038116 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 14038116 d:MotorVehicles 2023-12-01 2024-11-30 14038116 d:MotorVehicles 2024-11-30 14038116 d:MotorVehicles 2023-11-30 14038116 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 14038116 d:FurnitureFittings 2023-12-01 2024-11-30 14038116 d:FurnitureFittings 2024-11-30 14038116 d:FurnitureFittings 2023-11-30 14038116 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 14038116 d:OfficeEquipment 2023-12-01 2024-11-30 14038116 d:OfficeEquipment 2024-11-30 14038116 d:OfficeEquipment 2023-11-30 14038116 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 14038116 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 14038116 d:Goodwill 2023-12-01 2024-11-30 14038116 d:Goodwill 2024-11-30 14038116 d:Goodwill 2023-11-30 14038116 d:CurrentFinancialInstruments 2024-11-30 14038116 d:CurrentFinancialInstruments 2023-11-30 14038116 d:Non-currentFinancialInstruments 2024-11-30 14038116 d:Non-currentFinancialInstruments 2023-11-30 14038116 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 14038116 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 14038116 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 14038116 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 14038116 d:ShareCapital 2024-11-30 14038116 d:ShareCapital 2023-11-30 14038116 d:RetainedEarningsAccumulatedLosses 2024-11-30 14038116 d:RetainedEarningsAccumulatedLosses 2023-11-30 14038116 c:FRS102 2023-12-01 2024-11-30 14038116 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 14038116 c:FullAccounts 2023-12-01 2024-11-30 14038116 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 14038116 d:WithinOneYear 2024-11-30 14038116 d:WithinOneYear 2023-11-30 14038116 d:BetweenOneFiveYears 2024-11-30 14038116 d:BetweenOneFiveYears 2023-11-30 14038116 d:MoreThanFiveYears 2024-11-30 14038116 d:MoreThanFiveYears 2023-11-30 14038116 d:HirePurchaseContracts d:WithinOneYear 2024-11-30 14038116 d:HirePurchaseContracts d:WithinOneYear 2023-11-30 14038116 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-11-30 14038116 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-11-30 14038116 2 2023-12-01 2024-11-30 14038116 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Registered number: 14038116










LUXURY INTERIORS MANUFACTURING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
LUXURY INTERIORS MANUFACTURING LIMITED
REGISTERED NUMBER: 14038116

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,229,173
2,339,441

  
2,229,173
2,339,441

Current assets
  

Stocks
 6 
203,199
305,091

Debtors: amounts falling due within one year
 7 
338,976
296,146

Cash at bank and in hand
 8 
17,119
16,961

  
559,294
618,198

Creditors: amounts falling due within one year
 9 
(2,121,652)
(1,819,350)

Net current liabilities
  
 
 
(1,562,358)
 
 
(1,201,152)

Total assets less current liabilities
  
666,815
1,138,289

Creditors: amounts falling due after more than one year
 10 
(1,166,289)
(988,889)

  

Net (liabilities)/assets
  
(499,474)
149,400


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(499,574)
149,300

  
(499,474)
149,400


Page 1

 
LUXURY INTERIORS MANUFACTURING LIMITED
REGISTERED NUMBER: 14038116
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Cole
Director

Date: 29 August 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
LUXURY INTERIORS MANUFACTURING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

The company is a private company limited by shares and is incorporated in England and Wales. The
address of its registered office is St Germain Street, Farnworth, Bolton, Lancashire, BL4 7BG.
Registration number: 14038116.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

After reviewing the company’s cashflow forecasts for the next 12 months, the directors are satisfied the company has adequate resources to continue operate for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the financial statements.  

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
LUXURY INTERIORS MANUFACTURING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
LUXURY INTERIORS MANUFACTURING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Long-term leasehold property
-
10%
Plant and machinery
-
20%
Motor vehicles
-
25%
Fixtures and fittings
-
20%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
LUXURY INTERIORS MANUFACTURING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due within the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
 
Page 6

 
LUXURY INTERIORS MANUFACTURING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)


Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 62 (2023 - 63).


4.


Intangible assets




Goodwill

£



Cost


At 1 December 2023
160,082



At 30 November 2024

160,082



Amortisation


At 1 December 2023
160,082



At 30 November 2024

160,082



Net book value



At 30 November 2024
-



At 30 November 2023
-



Page 7
 


 
LUXURY INTERIORS MANUFACTURING LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


5.


Tangible fixed assets






Freehold property
Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£
£



Cost 


At 1 December 2023
939,439
96,459
250,278
8,000
1,206,880
31,475
2,532,531


Additions
-
-
-
-
133,530
1,750
135,280


Disposals
-
-
-
(3,500)
(327)
-
(3,827)



At 30 November 2024

939,439
96,459
250,278
4,500
1,340,083
33,225
2,663,984



Depreciation


At 1 December 2023
20,353
9,646
73,182
3,167
76,315
10,426
193,089


Charge for the year on owned assets
18,787
9,646
50,056
1,344
155,223
8,270
243,326


Disposals
-
-
-
(1,604)
-
-
(1,604)



At 30 November 2024

39,140
19,292
123,238
2,907
231,538
18,696
434,811



Net book value



At 30 November 2024
900,299
77,167
127,040
1,593
1,108,545
14,529
2,229,173



At 30 November 2023
919,086
86,813
177,096
4,833
1,130,565
21,049
2,339,442

Page 8
 
LUXURY INTERIORS MANUFACTURING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Stocks

2024
2023
£
£

Raw materials and consumables
25,199
73,556

Work in progress (goods to be sold)
84,000
100,000

Finished goods and goods for resale
94,000
131,535

203,199
305,091



7.


Debtors

2024
2023
£
£


Trade debtors
84,997
25,639

Other debtors
175,000
202,585

Called up share capital not paid
100
100

Prepayments and accrued income
78,879
67,822

338,976
296,146


Included within other debtors is a rent reposit of £175,000 (2023: £175,000), due in more than one year. 


8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
17,119
16,961


Page 9

 
LUXURY INTERIORS MANUFACTURING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Payments received on account
664,096
1,245,871

Trade creditors
674,320
287,335

Other taxation and social security
321,323
132,094

Obligations under finance lease and hire purchase contracts
4,500
3,917

Other creditors
172,305
32,107

Accruals and deferred income
285,108
118,026

2,121,652
1,819,350



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
15,181
18,889

Other creditors
1,151,108
970,000

1,166,289
988,889



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
4,500
3,916

Between 1-5 years
15,181
18,888

19,681
22,804


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £16,599 (2023 - £17,183). Contributions totalling £24,644 (2023 - £9,899) were payable to the fund at the balance sheet date and are included in creditors.

Page 10

 
LUXURY INTERIORS MANUFACTURING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

13.


Commitments under operating leases

At 30 November 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
350,000
350,000

Later than 1 year and not later than 5 years
1,400,000
1,050,000

Later than 5 years
1,050,000
1,750,000

2,800,000
3,150,000


14.


Related party transactions

Included within other creditors due within one year are loan balances due to the directors of £42,858 (2023 - £16,462) which is repayable on demand and interest free.
Included within other creditors is a loan due to a connected party of £43,500 (2023 - £nil). This balance is interest free and repayable on demand.
Within other creditors due in more than one year is £1,151,108 (2023 - £970,000) loan due to the shareholder.

 
Page 11