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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Luminous Re Ltd is a private company, limited by shares, registered in England and Wales. Its registered office and principal place of trading is Cavendish House, 369 Burnt Oak Broadway, Edgware, Middlesex, HA8 5AG.
The principal activity of the Company is that of property development.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The Company made a loss of £66,895 for the year and at the reporting date had net liabilities of £66,795. The director is satisfied the Company will have sufficient funds to be able to meet its obligations as and when they fall due for at least twelve months from the date the accounts are approved. Connected creditors have confirmed they will not demand repayment of the balances, or any part, due to them which may affect the company's liquidity position. Therefore, the director believes that preparing the financial statements as a going concern is appropriate, and there are no material uncertainties which may cast significant doubt over the Company's ability to continue as such.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
a) The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
b) Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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