Luxo Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 03738807

Luxo Limited

Filleted Unaudited Financial Statements

29 December 2022

Luxo Limited

Statement of Financial Position

29 December 2022

	2022	2021
Note	€	€

Current assets

Debtors	4	221,356	188,102
Cash at bank and in hand		9,221	6,971
		---------	---------
		230,577	195,073

Creditors: amounts falling due within one year	5	11,897	276
		---------	---------
Net current assets		218,680	194,797
		---------	---------
Total assets less current liabilities		218,680	194,797

Creditors: amounts falling due after more than one year	6	931,383	877,952
		---------	---------
Net liabilities		( 712,703)	( 683,155)
		---------	---------

Capital and reserves

Called up share capital	100,000	100,000
Profit and loss account	( 812,703)	( 783,155)
	---------	---------
Shareholders deficit	( 712,703)	( 683,155)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 29 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 20 December 2023 , and are signed on behalf of the board by:

Maurizio Farece
Director

Company registration number: 03738807

Luxo Limited

Notes to the Financial Statements

Year ended 29 December 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Portman House 2 Portman Street, London, W1H 6DU, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

The company's functional ad presentational currency is Euro (€). Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Debtors

	2022	2021
	€	€
Trade debtors	85,000	85,000
Other debtors	136,356	103,102
	---------	---------
	221,356	188,102
	---------	---------

5. Creditors: amounts falling due within one year

	2022	2021
	€	€
Trade creditors	11,889	276
Other creditors	8	–
	--------	----
	11,897	276
	--------	----

6. Creditors: amounts falling due after more than one year

	2022	2021
	€	€
Other creditors	931,383	877,952
	---------	---------