The London Fashion Centre Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02703622 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 October 2014

for

The London Fashion Centre Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

E Elias

M Collins

SECRETARY:

E Elias

REGISTERED OFFICE:

10-14 Accommodation Road

Golders Green

London

NW11 8ED

REGISTERED NUMBER:

02703622 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

10-14 Accommodation Road

Golders Green

London

NW11 8ED

FIXED ASSETS

Tangible assets

2

533,954

660,319

CURRENT ASSETS

Debtors

69,548

77,907

Cash at bank and in hand

244,377

210,601

313,925

288,508

CREDITORS

Amounts falling due within one year

3

197,542

185,517

NET CURRENT ASSETS

116,383

102,991

TOTAL ASSETS LESS CURRENT LIABILITIES

650,337

763,310

CREDITORS

Amounts falling due after more than one year

3

(27,013

)

(114,526

)

PROVISIONS FOR LIABILITIES

(8,568

)

(10,966

)

NET ASSETS

614,756

637,818

CAPITAL AND RESERVES

Called up share capital

4

3

3

Revaluation reserve

215,129

265,749

Profit and loss account

399,624

372,066

SHAREHOLDERS' FUNDS

614,756

637,818

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 June 2015 and were signed on its behalf by:

M Collins - Director

E Elias - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net rent received exclusive of value added tax. Rent is recognise 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

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 November 2013

and 31 October 2014

2,637,872

DEPRECIATION

At 1 November 2013

1,977,553

Charge for year

126,365

At 31 October 2014

2,103,918

NET BOOK VALUE

At 31 October 2014

533,954

At 31 October 2013

660,319

3.

CREDITORS

Creditors include an amount of £ 122,524 (2013 - £ 209,944 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

300

Ordinary

1p

3

3

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year under review, rent of £99,000 (2013 - £99,000) was charged by the directors.