London Shopfitters Limited,Ltd - AccountsLtd - Accounts

London Shopfitters Limited,Ltd - AccountsLtd - Accounts

LONDON SHOPFITTERS LIMITED - Company Information

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2019-11-01 03118973 2020-10-31 03118973 2019-11-01 2020-10-31 03118973 uk-bus:RegisteredOffice 2019-11-01 2020-10-31 03118973 uk-bus:Director1 2019-11-01 2020-10-31 03118973 uk-bus:Director1 2020-10-31 03118973 uk-bus:Director2 2019-11-01 2020-10-31 03118973 uk-bus:Director2 2020-10-31 03118973 uk-bus:Director3 2019-11-01 2020-10-31 03118973 uk-bus:Director3 2020-10-31 03118973 2019-10-31 03118973 2018-11-01 2019-10-31 03118973 uk-core:WithinOneYear 2019-10-31 03118973 uk-core:WithinOneYear 2020-10-31 03118973 uk-core:ShareCapital 2020-10-31 03118973 uk-core:ShareCapital 2019-10-31 03118973 uk-core:RetainedEarningsAccumulatedLosses 2020-10-31 03118973 uk-core:RetainedEarningsAccumulatedLosses 2019-10-31 03118973 uk-core:OtherMiscellaneousReserve 2020-10-31 03118973 uk-core:LandBuildings 2019-11-01 2020-10-31 03118973 uk-core:PlantMachinery 2019-11-01 2020-10-31 03118973 uk-core:Vehicles 2019-11-01 2020-10-31 03118973 uk-core:FurnitureFittings 2019-11-01 2020-10-31 iso4217:GBP xbrli:pure 03118973 uk-bus:AuditExemptWithAccountantsReport 2019-11-01 2020-10-31 03118973 uk-bus:FRS102 2019-11-01 2020-10-31 03118973 uk-bus:FullAccounts 2019-11-01 2020-10-31 03118973 uk-bus:PrivateLimitedCompanyLtd 2019-11-01 2020-10-31
London Shopfitters Limited
Registered Number:03118973
For the year ended 31 October 2020
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 31 October 2020
London Shopfitters Limited
Contents Page
Company Information
1
2
Directors' Report
3
Independent Accountants' Report
4
Income Statement
5
Statement of Financial Position
6
Statement of Changes in Equity
7 to 8
Notes to the Financial Statements
3
For the year ended 31 October 2020
London Shopfitters Limited
Company Information
Surjit Singh
Directors
Gurdip Singh Toot
Gurprit Singh Toot
Gurprit Singh Toot
Company Secretary
03118973
Registered Number
Unit 6, Blackwater Close
Registered Office
Marsh Way
Rainham
Essex
RM13 8UA
Mr P K R Chowdhury M Com FFA FIPA FAIA
Accountants
London Accountancy Limited
International Accountants
41 Highwood Gardens
Greater London
IG5 0AZ
Barclays Bank Plc
Bankers
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4
For the year ended 31 October 2020
London Shopfitters Limited
Directors' Report
The directors present their report and accounts for the year ended 31 October 2020.
Principal activities
The principal activity of the company continued to be that of manufacturing shopfronts, shutters and security grills.
Directors
The directors who served the company throughout the year were as follows:
Surjit Singh
Gurdip Singh Toot
Gurprit Singh Toot
Gurprit Singh Toot
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Date:
20 April 2021
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5
For the year ended 31 October 2020
London Shopfitters Limited
Independent Accountants' Report
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements
for the year ended 31 October 2020 and you consider that the company is exempt from an audit under the Companies
Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to
assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations
supplied to us.
London Accountancy Limited
Mr P K R Chowdhury M Com FFA FIPA FAIA
International Accountants
41 Highwood Gardens
Greater London
IG5 0AZ
Date:
20 April 2021
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6
For the year ended 31 October 2020
London Shopfitters Limited
Income Statement
2019
£
2020
£
Turnover
3,334,646
3,239,453
(2,353,536)
Cost of sales
(2,619,572)
885,917
Gross profit
715,074
Distribution costs
(142,201)
(119,470)
Administrative expenses
(764,764)
(778,356)
(191,891)
(11,909)
Other operating income
201,139
28,252
Operating profit
9,248
16,343
Other interest receivable and similar income
811
866
Interest payable and similar charges
-
(606)
10,059
16,603
Profit before taxation
24,644
(9,393)
Taxation
34,703
Profit for the financial year
7,210
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7
Registered Number :
03118973
As at 31 October 2020
London Shopfitters Limited
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
241,682
271,250
241,682
271,250
Current assets
Inventories
349,300
440,600
2
Trade and other receivables
476,756
405,706
3
746,500
Cash and cash equivalents
852,609
1,698,915
1,572,556
Trade and other payables: amounts falling due within one
year
(697,847)
(759,937)
4
874,709
938,978
Net current assets
Total assets less current liabilities
1,180,660
1,145,959
1,180,660
Net assets
1,145,959
Capital and reserves
Called up share capital
9
9
Retained earnings
1,180,649
1,145,948
Other reserves
2
2
1,180,660
1,145,959
Shareholders' funds
For the year ended 31 October 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 of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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 in accordance with the provisions applicable to companies subject to the small companies regime.
Surjit Singh
These financial statements were approved and authorised for issue by the Board on 20 April 2021 and were signed by:
The notes form part of these financial statements
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8
For the year ended 31 October 2020
London Shopfitters Limited
Statement of Changes in Equity
Share capital
Retained
earnings
Capital
redemption
reserve
Total
£
£
£
£
Balance at 01 November 2018
9
1,138,738
2
1,138,749
-
7,210
-
7,210
Profit for the year
Balance at 31 October 2019 and 01 November
2019
1,145,957
2
1,145,946
9
-
34,703
-
34,703
Profit for the year
Balance at 31 October 2020
9
1,180,649
2
1,180,660
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9
For the year ended 31 October 2020
London Shopfitters Limited
Notes to the Financial Statements
Statutory Information
London Shopfitters Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 03118973.
Registered address:
Unit 6, Blackwater Close
Marsh Way
Rainham
Essex
RM13 8UA
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
10% Straight line
Plant and machinery
15% Reducing balance
25% Reducing balance
Motor vehicles
15% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
2. Inventories
2019
2020
£
£
Stocks
440,600
349,300
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10
For the year ended 31 October 2020
London Shopfitters Limited
Notes to the Financial Statements Continued
3. Trade and other receivables
2019
2020
£
£
Trade debtors
373,480
469,322
Other debtors
32,226
7,434
476,756
405,706
4. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Trade creditors
608,012
526,647
Taxation and social security
135,175
154,450
Other creditors
16,750
16,750
759,937
697,847
5. Average number of persons employed
During the year the average number of employees was 31 (2019 : 33)
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