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

REGISTERED NUMBER: 02303225 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

ADDISON LONDON LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Mason

G Mason

SECRETARY:

P Mason

REGISTERED OFFICE:

26 Church Street

Bishops Stortford

Hertfordshire

CM23 2LY

REGISTERED NUMBER:

02303225 (England and Wales)

ACCOUNTANTS:

Mark Burrows Limited

Chartered Accountants

3 The Chapmans

Tilehouse Street

Hitchin

Hertfordshire

SG5 2TS

FIXED ASSETS

Tangible assets

4

42,823

43,343

CURRENT ASSETS

Debtors

3,787

1,251

Prepayments and accrued income

14,639

15,083

Cash at bank and in hand

96,112

97,442

114,538

113,776

CREDITORS

Amounts falling due within one year

71,941

64,071

NET CURRENT ASSETS

42,597

49,705

TOTAL ASSETS LESS CURRENT LIABILITIES

85,420

93,048

CREDITORS

Amounts falling due after more than one year

(23,226

)

(25,197

)

PROVISIONS FOR LIABILITIES

(1,264

)

(1,576

)

ACCRUALS AND DEFERRED INCOME

(4,866

)

(5,373

)

NET ASSETS

56,064

60,902

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

55,964

60,802

SHAREHOLDERS' FUNDS

56,064

60,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2020 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 Board of Directors and authorised for issue on 10 September 2020 and were signed on its behalf by:

P Mason - Director

G Mason - Director

1.	STATUTORY INFORMATION

Addison 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.

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 invoiced sales of services and fees, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

115,171

Additions

34,686

Disposals

(32,637

)

At 31 March 2020

117,220

DEPRECIATION

At 1 April 2019

71,828

Charge for year

11,800

Eliminated on disposal

(9,231

)

At 31 March 2020

74,397

NET BOOK VALUE

At 31 March 2020

42,823

At 31 March 2019

43,343

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2019

30,950

Additions

33,712

Disposals

(30,950

)

At 31 March 2020

33,712

DEPRECIATION

At 1 April 2019

7,738

Charge for year

8,428

Eliminated on disposal

(7,738

)

At 31 March 2020

8,428

NET BOOK VALUE

At 31 March 2020

25,284

At 31 March 2019

23,212

5.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.20

31.3.19

£

£

Gross obligations repayable:

Within one year

5,711

5,504

Between one and five years

27,359

28,394

33,070

33,898

Finance charges repayable:

Within one year

861

1,744

Between one and five years

4,133

3,197

4,994

4,941

Net obligations repayable:

Within one year

4,850

3,760

Between one and five years

23,226

25,197

28,076

28,957

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Hire purchase contracts

28,076

28,957

The hire purchase creditors are secured against the motor vehicles to which they relate.

7.	OTHER FINANCIAL COMMITMENTS

There were £418,158 of lease commitments as at the balance sheet date.(2019 : £112,909).