REGISTERED NUMBER: 07100423 (England and Wales)

PURE LUXURIES LONDON LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr S H Kennedy

Mrs H T Kennedy

Mr D J Kennedy

Registered office:

Dalton House

9 Dalton Square

LANCASTER

LA1 1WD

Business address:

6:1:3 Alston House

White Cross

LANCASTER

LA1 4XQ

Registered number:

07100423 (England and Wales)

Accountants:

Xeinadin

Dalton House

9 Dalton Square

LANCASTER

LA1 1WD

Bankers:

Santander UK Plc

Bridle Road

BOOTLE

L30 4GB

Fixed assets

Intangible assets

4

8,399

12,090

Tangible assets

5

71,512

45,651

79,911

57,741

Current assets

Stocks

748,161

1,340,671

Debtors

6

380,740

467,461

Cash at bank

1,169,446

1,294,719

2,298,347

3,102,851

Creditors

Amounts falling due within one year

7

335,987

589,597

Net current assets

1,962,360

2,513,254

Total assets less current liabilities

2,042,271

2,570,995

Provisions for liabilities

-

9,957

Net assets

2,042,271

2,561,038

Capital and reserves

Called up share capital

200

200

Retained earnings

2,042,071

2,560,838

2,042,271

2,561,038

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

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

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

Mr S H Kennedy - Director

1.	Statutory information

Pure Luxuries London Ltd 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

Provision is made for goods which are sold before the balance sheet date, but which are subsequently returned after this date.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for goods provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring goods to the customer.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of two years.

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, 25% on cost and 20% Reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, 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 Statement of Income and Retained Earnings, 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.

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 13 (2023 - 17 ) .

4.	Intangible fixed assets

Other

intangible

assets

£

Cost

At 1 January 2024

and 31 December 2024

52,073

Amortisation

At 1 January 2024

39,983

Charge for year

3,691

At 31 December 2024

43,674

Net book value

At 31 December 2024

8,399

At 31 December 2023

12,090

5.	Tangible fixed assets

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

Cost

At 1 January 2024

10,660

39,706

63,625

Additions

-

-

1,854

At 31 December 2024

10,660

39,706

65,479

Depreciation

At 1 January 2024

9,243

27,680

40,013

Charge for year

1,417

1,807

3,825

At 31 December 2024

10,660

29,487

43,838

Net book value

At 31 December 2024

-

10,219

21,641

At 31 December 2023

1,417

12,026

23,612

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 January 2024

-

37,644

151,635

Additions

39,491

-

41,345

At 31 December 2024

39,491

37,644

192,980

Depreciation

At 1 January 2024

-

29,048

105,984

Charge for year

4,937

3,498

15,484

At 31 December 2024

4,937

32,546

121,468

Net book value

At 31 December 2024

34,554

5,098

71,512

At 31 December 2023

-

8,596

45,651

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

16,848

109,820

Other debtors

363,892

357,641

380,740

467,461

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

-

38

Trade creditors

46,137

89,587

Taxation and social security

111,225

305,157

Other creditors

178,625

194,815

335,987

589,597

8.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

1,202

63,125

9.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr D J Kennedy and Mrs H T Kennedy

Balance outstanding at start of year

206,537

52,680

Amounts advanced

176,865

428,318

Amounts repaid

(370,567

)

(274,461

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

12,835

206,537

Mr S H Kennedy

Balance outstanding at start of year

59,931

12,070

Amounts advanced

134,593

73,337

Amounts repaid

(55,717

)

(25,476

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

138,807

59,931

Interest is charged on the Overdrawn Directors Loan Account at the Official rate of interest of 2.25%