Luxury Living Contract & Projects Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 09115909 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Luxury Living Contract & Projects Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A Gentilini

Ms O Shvilli Vignatelli

REGISTERED OFFICE:

Lynton House

7-12 Tavistock Square

London

WC1H 9BQ

REGISTERED NUMBER:

09115909 (England and Wales)

AUDITORS:

Nordens Audit Limited

Statutory Auditors

The Retreat

406 Roding Lane South

Woodford Green

Essex

IG8 8EY

FIXED ASSETS

Tangible assets

4

831,240

1,094,278

CURRENT ASSETS

Stocks

2,982,296

2,873,461

Debtors

5

3,746,314

3,847,772

Cash at bank and in hand

143,360

111,238

6,871,970

6,832,471

CREDITORS

Amounts falling due within one year

6

11,774,291

12,073,641

NET CURRENT LIABILITIES

(4,902,321

)

(5,241,170

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,071,081

)

(4,146,892

)

PROVISIONS FOR LIABILITIES

8

19,566

-

NET LIABILITIES

(4,090,647

)

(4,146,892

)

CAPITAL AND RESERVES

Called up share capital

455,000

Retained earnings

(4,545,647

)

(4,601,892

)

(4,090,647

)

(4,146,892

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2026 and were signed on its behalf by:

Mr A Gentilini - Director

1.	STATUTORY INFORMATION

Luxury Living Contract & Projects 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

15% - 50% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% straight line

Computer equipment

-

25% straight line

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition

.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is

more representative of the time pattern in which economic benefits from the leases asset are consumed.

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.

Going concern

At the balance sheet date the company had net current liabilities of £4,891,210 (2024: £5,241,170) of which £10,440,950 (2024: 10,780,748) was owed to group entities. The company continues to be dependent on continuing group support. The company has received written confirmation of group support from parent entities and the directors are satisfied that this support will be forthcoming, however there is no contractual certainty over this.

The directors have prepared these financial statements on the going concern basis, as they believe that group support will continue to be made available, that group loans will not be demanded, and they therefore have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

COST

At 1 January 2025

1,185,240

5,739

303,495

12,586

1,507,060

Additions

-

10,565

-

10,565

At 31 December 2025

1,185,240

5,739

314,060

12,586

1,517,625

DEPRECIATION

At 1 January 2025

271,563

1,229

134,353

5,637

412,782

Charge for year

205,825

1,139

64,144

2,495

273,603

At 31 December 2025

477,388

2,368

198,497

8,132

686,385

NET BOOK VALUE

At 31 December 2025

707,852

3,371

115,563

4,454

831,240

At 31 December 2024

913,677

4,510

169,142

6,949

1,094,278

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

93,935

603,761

Amounts owed by group undertakings

2,802,817

2,467,667

Other debtors

849,562

776,344

3,746,314

3,847,772

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade creditors

134,550

238,151

Amounts owed to group undertakings

10,440,950

10,780,748

Taxation and social security

171,073

212,598

Other creditors

1,027,718

842,144

11,774,291

12,073,641

7.	LEASING AGREEMENTS

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

31.12.25

31.12.24

£

Within one year

775,000

762,740

Between one and five years

1,600,000

1,975,000

In more than five years

1,000,000

1,400,000

3,375,000

4,137,740

8.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

Deferred tax

19,566

-

Deferred

tax

£

Charge to Income Statement during year

19,566

Balance at 31 December 2025

19,566

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lorraine Curtis BFP ACA FCCA (Senior Statutory Auditor)

for and on behalf of Nordens Audit Limited

10.	PARENT COMPANY

The immediate parent company is Club House Italia Spa and the ultimate parent company is Haworth Inc.

The intermediate parent company that prepares group accounts in which the company is consolidated is Haworth Italy Holding Srl. These accounts can be obtained from the offices at: Via Luigi Busnelli 1 Meda, Monza E Brianza, 20821 Italy.