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

REGISTERED NUMBER: 10472424 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

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:

STGCA LLP t/a 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 2021 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.

STGCA LLP t/a Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

23 May 2022

FIXED ASSETS

Intangible assets

4

209,520

251,424

Tangible assets

5

56,326

1,718,648

Investments

6

-

949,696

265,846

2,919,768

CURRENT ASSETS

Stocks

281,225

79,165

Debtors

7

2,544,619

564,992

Cash at bank

1,317,987

411,144

4,143,831

1,055,301

CREDITORS

Amounts falling due within one year

8

435,358

621,712

NET CURRENT ASSETS

3,708,473

433,589

TOTAL ASSETS LESS CURRENT LIABILITIES

3,974,319

3,353,357

PROVISIONS FOR LIABILITIES

10

-

43,337

NET ASSETS

3,974,319

3,310,020

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

1,970,767

1,970,767

Retained earnings

2,003,452

1,339,153

SHAREHOLDERS' FUNDS

3,974,319

3,310,020

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 23 May 2022 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 4 (2020 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

419,040

AMORTISATION

At 1 January 2021

167,616

Charge for year

41,904

At 31 December 2021

209,520

NET BOOK VALUE

At 31 December 2021

209,520

At 31 December 2020

251,424

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2021

1,732,914

1,434

37,245

Additions

-

-

-

Disposals

(1,732,914

)

-

-

At 31 December 2021

-

1,434

37,245

DEPRECIATION

At 1 January 2021

86,093

980

17,157

Charge for year

-

114

5,022

Eliminated on disposal

(86,093

)

-

-

At 31 December 2021

-

1,094

22,179

NET BOOK VALUE

At 31 December 2021

-

340

15,066

At 31 December 2020

1,646,821

454

20,088

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2021

65,233

7,997

1,844,823

Additions

-

3,891

3,891

Disposals

-

-

(1,732,914

)

At 31 December 2021

65,233

11,888

115,800

DEPRECIATION

At 1 January 2021

16,931

5,014

126,175

Charge for year

12,076

2,180

19,392

Eliminated on disposal

-

-

(86,093

)

At 31 December 2021

29,007

7,194

59,474

NET BOOK VALUE

At 31 December 2021

36,226

4,694

56,326

At 31 December 2020

48,302

2,983

1,718,648

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2021

949,696

Disposals

(949,696

)

At 31 December 2021

-

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

949,696

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

738,671

157,025

Amounts owed by connected company

840,000

355,000

Other debtors

907,092

-

Deferred tax asset

3,231

-

Prepayments

55,625

52,967

2,544,619

564,992

Other debtors include loan due from Aagree Pension fund in March 2021 at a principal amount of £907,092.The rate of interest on the loan is 1.65%. The interest is receivable annually in arrears at the end of the term of the loan.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other loans (see note 9)

-

331,551

Trade creditors

3,749

17,028

Tax

318,677

129,407

Social security and other taxes

115

-

VAT

38,239

57,603

Other creditors

71

5,611

Directors' current accounts

72,007

78,512

Accrued expenses

2,500

2,000

435,358

621,712

9.

LOANS

An analysis of the maturity of loans is given below:

2021

2020

£

£

Amounts falling due within one year or on demand:

Other loans

-

331,551

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 repaid in 2021.

10.	PROVISIONS FOR LIABILITIES

2020

£

Deferred tax

43,337

Deferred

tax

£

Balance at 1 January 2021

43,337

Movement

(46,568

)

Balance at 31 December 2021

(3,231

)

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors due within one year is amount due of £36,004 (2020: £39,256) to Mr N R Radia.

Included within creditors due within one year is amount due of £36,004 (2020 £39,256) to Mrs J N Radia.

During the year, the company paid dividends of £84,000 (2020- £90,800) to the directors.

12.	RELATED PARTY DISCLOSURES

Included within debtors due within one year is amount due of £840,000 (2020: £355,000) from Aargee Investment Co. Ltd, company in which Mr N R Radia has a beneficial interest. The amounts due are unsecured and receivable on demand.