Stamford London Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10472424 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

STAMFORD LONDON LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr N R Radia

Mrs J N Radia

Mr R R Radia

Mrs I R Radia

REGISTERED OFFICE:

63 Walton Street

Chelsea

London

SW3 2HT

REGISTERED NUMBER:

10472424 (England and Wales)

ACCOUNTANTS:

Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Stamford London Limited for the year ended 31 December 2019 which comprise the Statement

of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Stamford London Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stamford London Limited and state those matters that we have agreed to state to the Board of Directors of Stamford London Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stamford London Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Stamford London Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stamford London Limited. You consider that Stamford London Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stamford London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

14 August 2020

FIXED ASSETS

Intangible assets

4

293,328

335,232

Tangible assets

5

1,720,300

1,465,414

Investments

6

-

191,585

2,013,628

1,992,231

CURRENT ASSETS

Stocks

74,836

219,278

Debtors

7

505,973

582,438

Cash at bank

510,105

126,116

1,090,914

927,832

CREDITORS

Amounts falling due within one year

8

666,936

630,812

NET CURRENT ASSETS

423,978

297,020

TOTAL ASSETS LESS CURRENT LIABILITIES

2,437,606

2,289,251

PROVISIONS FOR LIABILITIES

10

53,825

-

NET ASSETS

2,383,781

2,289,251

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

1,970,767

1,970,767

Retained earnings

412,914

318,384

2,383,781

2,289,251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and authorised for issue on 14 August 2020 and were signed on its behalf by:

Mr N R Radia - Director

1.	STATUTORY INFORMATION

Stamford London 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.

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 invoiced sales of goods, excluding value added tax.

Revenue recognition

Revenue is recognised once the goods are delivered and the risks and rewards have passed to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Freehold property

-

2% on cost of building

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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.

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.

Interest receivable and interest payable

Interest receivable and interest payable are recognised in profit or loss as they accrue, using the effective

interest method.

Fixed asset investments

Investments comprise of quoted instruments which are measured at fair value. Changes in fair value are

recognised in the Statement of Comprehensive Income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

419,040

AMORTISATION

At 1 January 2019

83,808

Charge for year

41,904

At 31 December 2019

125,712

NET BOOK VALUE

At 31 December 2019

293,328

At 31 December 2018

335,232

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2019

1,500,000

1,434

3,850

Additions

224,090

-

32,938

At 31 December 2019

1,724,090

1,434

36,788

DEPRECIATION

At 1 January 2019

40,000

627

1,684

Charge for year

22,988

202

8,776

At 31 December 2019

62,988

829

10,460

NET BOOK VALUE

At 31 December 2019

1,661,102

605

26,328

At 31 December 2018

1,460,000

807

2,166

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2019

-

4,890

1,510,174

Additions

32,075

1,832

290,935

At 31 December 2019

32,075

6,722

1,801,109

DEPRECIATION

At 1 January 2019

-

2,449

44,760

Charge for year

2,673

1,410

36,049

At 31 December 2019

2,673

3,859

80,809

NET BOOK VALUE

At 31 December 2019

29,402

2,863

1,720,300

At 31 December 2018

-

2,441

1,465,414

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2019

191,585

Additions

13,000

Disposals

(204,585

)

At 31 December 2019

-

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

191,585

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

£

Trade debtors

112,466

156,938

Amounts owed by connected company

326,380

320,000

Other debtors

20,000

13

Deferred tax asset

-

10,059

Prepayments

47,127

95,428

505,973

582,438

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

£

Other loans (see note 9)

425,572

500,000

Trade creditors

952

5,997

Tax

39,201

46,419

Social security and other taxes

530

-

VAT

41,307

32,713

Other creditors

24,836

24,204

Directors' current accounts

132,538

-

Accrued expenses

2,000

21,479

666,936

630,812

9.

LOANS

An analysis of the maturity of loans is given below:

31/12/19

31/12/18

£

£

Amounts falling due within one year or on demand:

Other loans

425,572

500,000

On 09 May 2018, Stamford London Limited entered into a loan agreement with NSS Trustees Limited, at a

principal amount of £500,000.The rate of interest on the Loan is 6%. The interest is payable annually in

arrears at the end of the term of the loan. The loan is repayable on 08 May 2023.

10.	PROVISIONS FOR LIABILITIES

31/12/19

£

Deferred tax

53,825

Deferred tax

£

Balance at 1 January 2019

(10,059

)

Provided during year

63,884

Balance at 31 December 2019

53,825

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors due within one year is amount due of £66,269 (2018: £Nil) to Mr N R Radia.

Included within creditors due within one year is amount due of £66,269 l (2018: £Nil) to Mrs J N Radia.

During the year, the company paid dividends of £146,145 (2018- £Nil) to the directors.

12.	RELATED PARTY DISCLOSURES

Included within debtors due within one year is amount due of £325,000(2018:£320,000 ) from Aargee

Investment Co. Ltd and £1,380 (2018: £Nil) form Ashburn Capital Ltd, companies in which Mr N R Radia has

a beneficial interest. The amounts due are unsecured with no specific terms of repayments.