The London Fashion Centre Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02703622 (England and Wales)

Unaudited Cessation Financial Statements

for the Period 1 November 2017 to 30 April 2019

for

The London Fashion Centre Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

E Elias

M Collins

SECRETARY:

E Elias

REGISTERED OFFICE:

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

REGISTERED NUMBER:

02703622 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

FIXED ASSETS

Tangible assets

4

2,161

158,317

CURRENT ASSETS

Debtors

5

157,287

76,307

Cash at bank

202,726

121,214

360,013

197,521

CREDITORS

Amounts falling due within one year

6

42,096

104,470

NET CURRENT ASSETS

317,917

93,051

TOTAL ASSETS LESS CURRENT LIABILITIES

320,078

251,368

PROVISIONS FOR LIABILITIES

-

4,490

NET ASSETS

320,078

246,878

CAPITAL AND RESERVES

Called up share capital

3

3

Other reserves

-

113,889

Retained earnings

320,075

132,986

SHAREHOLDERS' FUNDS

320,078

246,878

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 4 September 2019 and were signed on its behalf by:

M Collins - Director

E Elias - Director

1.	STATUTORY INFORMATION

The London Fashion Centre Limited 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.

Turnover

Turnover represents net rent received, exclusive of value added tax. Rent is recognised on a calendar basis.

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

-

over the period of the lease

Fixtures and fittings

-

25% on reducing balance

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 November 2017

and 30 April 2019

2,548,529

90,117

2,638,646

DEPRECIATION

At 1 November 2017

2,393,670

86,659

2,480,329

Charge for period

154,859

1,297

156,156

At 30 April 2019

2,548,529

87,956

2,636,485

NET BOOK VALUE

At 30 April 2019

-

2,161

2,161

At 31 October 2017

154,859

3,458

158,317

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2017

as restated

£

£

Trade debtors

-

73,282

Other debtors

-

1,800

Amounts due to related parties

3,489

-

Directors' current accounts

153,798

-

Prepayments and accrued income

-

1,225

157,287

76,307

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2017

as restated

£

£

Trade creditors

-

11,616

Corporation tax

31,266

15,771

Social security and other taxes

10,829

30,517

Accrued expenses

1

46,566

42,096

104,470

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 April 2019 and the year

ended 31 October 2017:

2019

2017

as restated

£

£

E Elias

Balance outstanding at start of period

-

-

Amounts advanced

76,899

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

76,899

-

M Collins

Balance outstanding at start of period

-

-

Amounts advanced

76,899

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

76,899

-

Amounts owed to the company by the directors were repaid within nine months of the year end.

8.	RELATED PARTY DISCLOSURES

Amount due from related parties represent amounts due from an entity under the control of family members of

the directors and shareholders of he company. The amount is interest free and repayable on demand.