Company No:
Contents
DIRECTOR | M Baxter |
REGISTERED OFFICE | Lux Windows And Doors Threemilestone Industrial Estate |
Threemilestone | |
Truro | |
TR4 9LD | |
England | |
United Kingdom |
COMPANY NUMBER | 11367940 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Lowin House | |
Tregolls Road | |
Truro | |
Cornwall TR1 2NA |
Note | 30.09.2022 | 31.05.2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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3,724 | 3,423 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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617,736 | 431,727 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 77,985 | 281,920 | ||
Total assets less current liabilities | 81,709 | 285,343 | ||
Creditors: amounts falling due after more than one year | 6 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Lux Doors and Windows Limited (registered number:
M Baxter
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
Lux Doors and Windows Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lux Windows And Doors Threemilestone Industrial Estate, Threemilestone, Truro, TR4 9LD, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Reporting period length is 16 months. This is to align the year end with another company under common control. The comparative amounts presented in the financial statements (including related notes) are not entirely comparable.
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.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Plant and machinery |
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Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Period from 01.06.2021 to 30.09.2022 |
Year ended 31.05.2021 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including the director |
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Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 01 June 2021 |
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Additions |
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At 30 September 2022 |
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Accumulated depreciation | |||
At 01 June 2021 |
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Charge for the financial period |
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At 30 September 2022 |
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Net book value | |||
At 30 September 2022 |
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At 31 May 2021 |
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30.09.2022 | 31.05.2021 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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30.09.2022 | 31.05.2021 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Corporation tax |
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Other taxation and social security |
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Other creditors |
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30.09.2022 | 31.05.2021 | ||
£ | £ | ||
Bank loans |
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Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
30.09.2022 | 31.05.2021 | ||
£ | £ | ||
- within one year |
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- between one and five years |
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Transactions with the entity's director
30.09.2022 | 31.05.2021 | ||
£ | £ | ||
Mr M Baxter (amounts owed to the company) | 2,357 | 0 |