Companies House iXbrl

SOUTH LONDON COLLECTIVE LTD - Company Information

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Registered number: 09758452

South London Collective Ltd

Unaudited Financial Statements

for the period ended 31 August 2020

Statement of Financial Position

as at 31 August 2020

2020

2019

Called up share capital not paid

Fixed assets

5,737

Current assets

26,925

35,916

Prepayments and accrued income

Creditors: amounts falling due within one year

( 6,522 )

( 24,853 )

Net current assets (liabilities)

20,403

11,063

Total assets less current liabilities

20,403

16,800

Creditors: amounts falling due after more than one year

Provisions for liabilities

Accruals and deferred income

( 172 )

Net assets

20,231

16,800

Capital and reserves

20,231

16,800

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Footnotes to the Statement of Financial Position

1. Arrangements not included in Statement of Financial Position

The company has not entered into any arrangements not shown on the Statement of Financial Position.

2. Average number of employees

The average number of employees in the period was 1.

3. Directors’ benefits: advances, credit and guarantees

Alexander Baulch

Included in debtors is an amount payable to the company by one of its directors. The amount is an advance of £14,694 made to Alexander Baulch, a director of the company, on 10/01/2020.

During the accounting period the maximum amount payable by Alexander Baulch was £15,194

The following conditions are attached to the amount payable by Alexander Baulch:

There is no interest due to be paid on any outstanding amount
No fixed date has been set for the amount to be repaid to the company.

Opening balance 01/10/2019	Additional advance	Amount repaid	Amount written off	Amounts waived	Interest payable	Closing balance 31/08/2020
£	£	£	£	£	£	£
2,229	( 27,219 ) ( 27,219 )	10,296 10,296	0	0	0	( 14,694 )

4. Guarantees, contingencies and other financial commitments

There are no guarantees, contingencies or other commitments not included in the financial statements.

5. Going Concern

The company ceased to trade during the period and the accounts have been prepared on a break-up basis.Â

Statutory Statements

In accordance with section 414(3) of the Companies Act 2006, these accounts have been prepared in accordance with the FRS 105: The Financial Reporting Standard applicable to the Micro-entities Regime for periods commencing on or after 1 January 2016. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

For the period ending 31/08/2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of Companies Act 2006 with respect to accounting records and the preparation of accounts