Luxury London Media Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. Accounting Policies

1.1. 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.

1.2. 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.

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.

1.3. Intangible Fixed Assets and Amortisation - Other Intangible

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 twenty five years.

1.4. 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	25% on cost
Computer Equipment	25% on cost

1.5. Financial Instruments

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.

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.

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements or a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

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Luxury London Media Limited

Notes to the Financial Statements (continued)

For the Period 1 January 2024 to 31 March 2025

1.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

1.7. Pensions

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.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 15 (2023: 12)

3. Intangible Assets

	Other Intangible Assets
	£
Cost
As at 1 January 2024	20,000

As at 31 March 2025	20,000

Amortisation
As at 1 January 2024	4,800
Provided during the period	1,000

As at 31 March 2025	5,800

Net Book Value
As at 31 March 2025	14,200

As at 1 January 2024	15,200

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Luxury London Media Limited

Notes to the Financial Statements (continued)

For the Period 1 January 2024 to 31 March 2025

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 January 2024	47,641
Additions	3,271

As at 31 March 2025	50,912

Depreciation
As at 1 January 2024	16,798
Provided during the period	15,557

As at 31 March 2025	32,355

Net Book Value
As at 31 March 2025	18,557

As at 1 January 2024	30,843

5. Debtors

	31 March 2025	31 December 2023
	£	£
Due within one year
Trade debtors	108,374	426,858
Other debtors	713,593	636,062

	821,967	1,062,920

6. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 December 2023
	£	£
Trade creditors	39,412	37,210
Bank loans and overdrafts	10,462	10,185
Other creditors	45,050	179,290
Taxation and social security	59,786	231,066

	154,710	457,751

7. Creditors: Amounts Falling Due After More Than One Year

	31 March 2025	31 December 2023
	£	£
Bank loans	1,769	14,806

	1,769	14,806

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Luxury London Media Limited

Notes to the Financial Statements (continued)

For the Period 1 January 2024 to 31 March 2025

8. Secured Creditors

Security for the bank loan is provided by the Government.

	31 March 2025		31 December 2023
	£		£
Bank loans and overdrafts	12,231		24,946

9. Share Capital

	31 March 2025	31 December 2023
	£	£
Allotted, Called up and fully paid	100	100

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Eren Ellwood	342,748	9,229	351,979	-	-

The loan to the director is repayable on demand and interest is being charged at 2.25% per annum.

11. Related Party Transactions

At the balance sheet date, balances totalling £368,355 (2023: £8,225) were due from companies under common control. The balances are interest free, with no set repayment terms and included within other debtors.

At the balance sheet date, balances totalling Nil (2023: £117,223) were due to companies under common control. The balances are interest free, with no set repayment term and included within other creditors.

12. Share-based payments

During the period, the company issued 235,292 (2023: Nil) options to employees under an approved scheme and 58,823 (2023: Nil) under an unapproved scheme to third parties. During the period, no approved options lapsed and no unapproved options lapsed. At 31 March 2025, there were a total of 235,292 (2023: Nil) approved options in issue and 58,823 (2023: Nil) unapproved options.

13. General Information

Luxury London Media Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09312298 . The registered office is 3rd Floor, 11-15 Borough High Street, London, SE1 9SE.

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		31 March 2025		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	3		14,200		15,200
Tangible Assets	4		18,557		30,843

			32,757		46,043
CURRENT ASSETS
Debtors	5	821,967		1,062,920
Cash at bank and in hand		173,624		116,745

		995,591		1,179,665
Creditors: Amounts Falling Due Within One Year	6	(154,710 )		(457,751 )

NET CURRENT ASSETS (LIABILITIES)			840,881		721,914

TOTAL ASSETS LESS CURRENT LIABILITIES			873,638		767,957

Creditors: Amounts Falling Due After More Than One Year	7		(1,769 )		(14,806 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,557 )		(5,677 )

NET ASSETS			868,312		747,474

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			868,212		747,374

SHAREHOLDERS' FUNDS			868,312		747,474