Registration number: 13122813

Luff Holdings Hove Limited

(Registration number: 13122813)
Statement of Financial Position
31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	4,621	5,642
Current assets
Debtors	5	50,859	10,879
Cash at bank and in hand		40,769	39,892
		91,628	50,771
Creditors: Amounts falling due within one year	6	(109,350)	(96,809)
Net current liabilities		(17,722)	(46,038)
Total assets less current liabilities		(13,101)	(40,396)
Provisions for liabilities		(1,155)	(1,072)
Net liabilities		(14,256)	(41,468)
Capital and reserves
Called up share capital		140	140
Share premium reserve		22,460	22,460
Retained earnings		(36,856)	(64,068)
Shareholders' deficit		(14,256)	(41,468)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

Luff Holdings Hove Limited

(Registration number: 13122813)
Statement of Financial Position
31 December 2024

......................................... R J Luff Director

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Wiston House
1 Wiston Avenue
Worthing
West Sussex
BN14 7QL
United Kingdom

These financial statements were authorised for issue by the Board on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance
Office equipment	over 5 years
Computer equipment	over 2 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	12,071	12,071
At 31 December 2024	12,071	12,071
Depreciation
At 1 January 2024	6,430	6,430
Charge for the year	1,020	1,020
At 31 December 2024	7,450	7,450
Carrying amount
At 31 December 2024	4,621	4,621
At 31 December 2023	5,642	5,642

5

Debtors

Current	Note	2024 £	2023 £
Trade debtors		22,986	1,740
Amounts owed by related parties	7	19,953	6,359
Prepayments		698	1,058
Other debtors		7,222	1,722
		50,859	10,879

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		920	1,620
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7	54,827	86,994
Taxation and social security		53,501	8,093
Other creditors		102	102
		109,350	96,809

7	Related party transactions

Luff Holdings Hove Limited

Notes to the Unaudited Financial Statements
for the year ended 31 December 2024

Summary of transactions with parent

The parent company is Hargan Estates Ltd whose registered office is Wiston House, 1 Wiston Avenue, Worthing, West Sussex and the principal place of business is 30 Guildborne Centre, Worthing, West Sussex. R J Luff and M Holding are also directors of Hargan Estates Ltd. During the year the company was provided a loan from Hargan Estates Ltd, as at 31 December 2024 the loan due to Hargan Estates Ltd was £53,405 (2023 £86,995) This loan has been provided interest free and no formal repayment terms.

8	Parent and ultimate parent undertaking

The company's immediate parent is Hargan Estates Ltd, incorporated in England.