Acorah Software Products - Accounts Production 16.4.675 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 10494367 Ms Lisa Pagin Ms Willow Pagin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10494367 2023-11-30 10494367 2024-11-30 10494367 2023-12-01 2024-11-30 10494367 frs-core:CurrentFinancialInstruments 2024-11-30 10494367 frs-core:Non-currentFinancialInstruments 2024-11-30 10494367 frs-core:MotorVehicles 2024-11-30 10494367 frs-core:MotorVehicles 2023-12-01 2024-11-30 10494367 frs-core:MotorVehicles 2023-11-30 10494367 frs-core:PlantMachinery 2024-11-30 10494367 frs-core:PlantMachinery 2023-12-01 2024-11-30 10494367 frs-core:PlantMachinery 2023-11-30 10494367 frs-core:ShareCapital 2024-11-30 10494367 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 10494367 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 10494367 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 10494367 frs-bus:SmallEntities 2023-12-01 2024-11-30 10494367 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 10494367 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 10494367 frs-core:CostValuation 2023-11-30 10494367 frs-core:CostValuation 2024-11-30 10494367 frs-core:ProvisionsForImpairmentInvestments 2023-11-30 10494367 frs-core:ImpairmentLossProvisionsForImpairmentInvestments 2024-11-30 10494367 frs-core:ProvisionsForImpairmentInvestments 2024-11-30 10494367 frs-bus:Director1 2023-12-01 2024-11-30 10494367 frs-bus:Director2 2023-12-01 2024-11-30 10494367 frs-countries:EnglandWales 2023-12-01 2024-11-30 10494367 2022-11-30 10494367 2023-11-30 10494367 2022-12-01 2023-11-30 10494367 frs-core:CurrentFinancialInstruments 2023-11-30 10494367 frs-core:Non-currentFinancialInstruments 2023-11-30 10494367 frs-core:ShareCapital 2023-11-30 10494367 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 10494367
Lux Blu Developments Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10494367
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,955 19,376
Investment Properties 5 2,000,000 1,150,000
Investments 6 139,997 269,997
2,155,952 1,439,373
CURRENT ASSETS
Debtors 7 1,035,074 214,788
Cash at bank and in hand 5,231 2,405
1,040,305 217,193
Creditors: Amounts Falling Due Within One Year 8 (2,623,938 ) (1,151,119 )
NET CURRENT ASSETS (LIABILITIES) (1,583,633 ) (933,926 )
TOTAL ASSETS LESS CURRENT LIABILITIES 572,319 505,447
Creditors: Amounts Falling Due After More Than One Year 9 (37,370 ) (806,544 )
NET ASSETS/(LIABILITIES) 534,949 (301,097 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 534,849 (301,197 )
SHAREHOLDERS' FUNDS 534,949 (301,097)
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For the year ending 30 November 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
Ms Lisa Pagin
Director
28/08/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Lux Blu Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10494367 . The registered office is Bay View, Gyllyngvase Road, Falmouth, Cornwall, TR11 4DJ.
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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 3 years straight line
Motor Vehicles 20% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost or Valuation
As at 1 December 2023 5,013 30,275 35,288
Additions 681 - 681
As at 30 November 2024 5,694 30,275 35,969
Depreciation
As at 1 December 2023 5,013 10,899 15,912
Provided during the period 227 3,875 4,102
As at 30 November 2024 5,240 14,774 20,014
Net Book Value
As at 30 November 2024 454 15,501 15,955
As at 1 December 2023 - 19,376 19,376
5. Investment Property
2024
£
Fair Value
As at 1 December 2023 1,150,000
Revaluations 850,000
As at 30 November 2024 2,000,000
A full market valuation of the investment property was completed by Heather & Lay Independent Estate Agents during the year at a value of £2,000,000.
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 1,037,118 1,037,118
6. Investments
Subsidiaries
£
Cost or Valuation
As at 1 December 2023 269,997
As at 30 November 2024 269,997
Provision
As at 1 December 2023 -
Impairment losses 130,000
As at 30 November 2024 130,000
Net Book Value
As at 30 November 2024 139,997
As at 1 December 2023 269,997
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This investment represents Lux Blu Development Ltd's 100% ownership of the shares of Kernowek Kerth Limited.
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,253 25,976
Amounts owed by connected companies 1,033,821 188,812
1,035,074 214,788
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,692 3,692
Trade creditors 4,117 5,348
Bank loans and overdrafts 767,229 4,779
Corporation tax (2,182 ) 20,360
Other creditors 1,194,508 934,508
Accruals and deferred income 15,542 -
Directors' loan accounts 478,110 13,510
Amounts owed to connected companies 162,922 168,922
2,623,938 1,151,119
Of the total bank loans figure of £767,229, £762,450 is secured against the investment property. The remaining £4,779 represents the company's bounce back loan that is secured by the government.
The hire purchase liability is secured against the asset.
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,475 17,786
Bank loans 22,895 788,758
37,370 806,544
The bank loans figure of £22,895 represents the company's bounce back loan that is secured by the government.
The hire purchase liability is secured against the asset.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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11. Related Party Transactions
Other related party transactions:
Balances receiveable from connected companies at 30 November 2024 included within the debtors note above:
 - Bloc Cornwall Holdings Ltd:   £47,500   (2023: £0)
 - Bloc Leisure Ltd:   £1,317   (2023: £0)
 - Kernowek Kerth Limited:   £85,860   (2023: £86,860)
 - Lux Blu Management Limited:   £6,997   (2023: £7,998)
 - Lux Blu Group Ltd:   £0   (2023: £340)
 - N3L Limited:   £813,500   (2023: 0)
 - Pennywort Properties Limited:   £6,545   (2023: £6,545)
 - Red Willow Holdings Ltd:   £14,906   (2023: £29,874)
 - Rosebay Court Ltd:   £57,194   (2023: £57,194)
Balances payable to connected companies at 30 November 2024 included within the creditors note above:
 - Lux Blu London Ltd:   £162,736   (2023: £162,736)
 - Red Willow Properties Ltd:   £186   (2023: £6,186)
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