IRIS Accounts Production v17.2.1.52 08067602 director 1.4.16 31.3.17 31.3.17 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure 08067602 2016-03-31 08067602 2017-03-31 08067602 2016-04-01 2017-03-31 08067602 2015-03-31 08067602 2015-04-01 2016-03-31 08067602 2016-03-31 08067602 ns15:EnglandWales 2016-04-01 2017-03-31 08067602 ns14:PoundSterling 2016-04-01 2017-03-31 08067602 ns10:Director1 2016-04-01 2017-03-31 08067602 ns10:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 08067602 ns10:SmallEntities 2016-04-01 2017-03-31 08067602 ns10:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 08067602 ns10:SmallCompaniesRegimeForDirectorsReport 2016-04-01 2017-03-31 08067602 ns10:SmallCompaniesRegimeForAccounts 2016-04-01 2017-03-31 08067602 ns10:AbridgedAccounts 2016-04-01 2017-03-31 08067602 1 2016-04-01 2017-03-31 08067602 ns10:CompanySecretary1 2016-04-01 2017-03-31 08067602 ns10:CompanySecretary2 2016-04-01 2017-03-31 08067602 ns10:RegisteredOffice 2016-04-01 2017-03-31 08067602 ns5:CurrentFinancialInstruments 2017-03-31 08067602 ns5:CurrentFinancialInstruments 2016-03-31 08067602 ns5:Non-currentFinancialInstruments 2017-03-31 08067602 ns5:Non-currentFinancialInstruments 2016-03-31 08067602 ns5:ShareCapital 2017-03-31 08067602 ns5:ShareCapital 2016-03-31 08067602 ns5:SharePremium 2017-03-31 08067602 ns5:SharePremium 2016-03-31 08067602 ns5:RetainedEarningsAccumulatedLosses 2017-03-31 08067602 ns5:RetainedEarningsAccumulatedLosses 2016-03-31 08067602 ns5:IntangibleAssetsOtherThanGoodwill 2016-04-01 2017-03-31 08067602 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2016-04-01 2017-03-31 08067602 ns5:PlantMachinery 2016-04-01 2017-03-31 08067602 1 2016-04-01 2017-03-31
REGISTERED NUMBER: 08067602 (England and Wales)















LUXDECO LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017






LUXDECO LTD (REGISTERED NUMBER: 08067602)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LUXDECO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2017







Director: Jonathan Holmes





Secretaries: Jonathan Holmes
Ohs Secretaries Limited





Registered office: 9th Floor
107 Cheapside
London
EC2V 6DN





Registered number: 08067602 (England and Wales)






LUXDECO LTD (REGISTERED NUMBER: 08067602)

ABRIDGED BALANCE SHEET
31 MARCH 2017

2017 2016
Notes £    £    £    £   
Fixed assets
Intangible assets 5 215,098 287,026
Tangible assets 6 13,914 19,520
229,012 306,546

Current assets
Stocks 61,850 160,042
Debtors 588,934 557,648
Cash at bank 33,792 52,937
684,576 770,627
Creditors
Amounts falling due within one year 1,483,154 1,187,940
Net current liabilities (798,578 ) (417,313 )
Total assets less current liabilities (569,566 ) (110,767 )

Creditors
Amounts falling due after more than one
year

3,272,927

2,380,857
Net liabilities (3,842,493 ) (2,491,624 )

Capital and reserves
Called up share capital 2 2
Share premium 2,649,964 1,999,999
Retained earnings (6,492,459 ) (4,491,625 )
Shareholders' funds (3,842,493 ) (2,491,624 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges its responsibilities for:
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

LUXDECO LTD (REGISTERED NUMBER: 08067602)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 2 August 2017 and were signed by:





Jonathan Holmes - Director


LUXDECO LTD (REGISTERED NUMBER: 08067602)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017


1. Statutory information

Luxdeco 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.

2. Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting policies

Compliance with accounting standards
The financial statements have been prepared under the historical cost convention.

Set out below is a summary of the principal accounting policies, all of which have been applied consistently
(except as otherwise stated).

Significant judgements and estimates
In applying the Company's accounting policies, the director is required to make judgements, estimates and
assumptions in determining the carrying amounts of assets and liabilities. The directors judgements, estimates
and assumptions are based on the best and most reliable evidence available at the time when the decisions are
made, and are based on historical experience and other factors that are considered to be applicable. Due to the
inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and
outcomes may differ.

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, if the revision affects only that period, or
in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies
The critical judgement that the director has made in the process of applying the Company's accounting policies
that have the most significant effect on the amounts recognised in the statutory financial statements are
discussed below:

(i) Assessing indicators and impairment
In assessing whether there have been any indicators or impairment of assets, the director has considered both
external and internal sources of information such as market conditions, counterparty credit ratings and
experience of recoverability. There have been no indicators or impairments identified during the current financial
year.

Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty that have a
significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next
financial year are discussed below.

(i) Recoverability of receivables
The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing
recoverability the director considers factors such as the aging of the receivables, past experience and
recoverability, and the credit profile of individual or groups of customers.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Intangible assets
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.

Development costs are being amortised evenly over their estimated useful life of three years.

LUXDECO LTD (REGISTERED NUMBER: 08067602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017


3. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

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.

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the
director has carefully considered these risks including an assessment on uncertainty on future trading projection
for a period of at least 12 months from the date of signing the financial statements, and the extent to which they
might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the director considers that the Company maintains an appropriate level of liquidity,
sufficient to meet the demands of the business including any capital and servicing obligations and external debt
liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers
that the Company is not exposed to losses on these assets which would affect their decision to adopt the going
concern basis.

The investors continue to support Luxdeco Ltd and therefore, the director has a reasonable expectation that the
Company has adequate resources to continue in operational existence for the foreseeable future and that there
are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going
concern. Thus the director has continued to adopt the going concern basis of accounting in preparing these
financial statements.

LUXDECO LTD (REGISTERED NUMBER: 08067602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017


3. Accounting policies - continued

Provisions
Provisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, it
is probably that the obligation will be required to be settled, and a reliable estimate can be made of the amount
of the obligation. The amount recognised as a provision is the best estimate of the consideration required to
settle the present obligation at the end of the reporting taking into account the risks and uncertainties
surrounding the obligation. Provisions are discounted when the time value of money is material.

Financial instruments
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of
the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents,
trade and other receivables, equity investments, trade and other payables, loans and borrowings. The company
has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial
Instruments in full.

Financial assets / liabilities - classified as basic financial instruments

(i) Cash and cash equivalents
This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original
maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs.
Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to
be received, net of any impairment.

At the end of each reporting period, the Company assesses whether there is objective evidence that an
receivable amount may be impaired. A provision for impairment is established when there is objective evidence
that the Company will not be able to collect all amounts due according to the original terms of the receivables.
The amount of the provision is the difference between the asset's carrying amount and the present value of the
estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised
immediately in profit or loss.

(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any
transaction price, including any transaction costs.

4. Employees and directors

The average number of employees during the year was 28 .

LUXDECO LTD (REGISTERED NUMBER: 08067602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017


5. Intangible fixed assets
Totals
£   
Cost
At 1 April 2016 561,735
Additions 108,386
At 31 March 2017 670,121
Amortisation
At 1 April 2016 274,709
Amortisation for year 180,314
At 31 March 2017 455,023
Net book value

At 31 March 2017 215,098
At 31 March 2016 287,026

6. Tangible fixed assets
Totals
£   
Cost
At 1 April 2016 39,659
Additions 3,648
At 31 March 2017 43,307
Depreciation
At 1 April 2016 20,139
Charge for year 9,254
At 31 March 2017 29,393
Net book value
At 31 March 2017 13,914
At 31 March 2016 19,520

7. Post balance sheet events

After the year end, the company received a further tranche of funding amounting to £550,000 from the investors.

8. Transactions with directors

Included in creditors is a loan from Jonathan Holmes of £8,277 (2016 - £857). This loan is interest free and
repayable on demand.