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 2022

for

ADDISON LONDON LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Mason

G Mason

H Mason

SECRETARY:

P Mason

REGISTERED OFFICE:

3 The Chapmans

Tilehouse Street

Hitchin

Hertfordshire

SG5 2TS

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

25,777

33,720

CURRENT ASSETS

Debtors

3,525

6,219

Prepayments and accrued income

21,581

16,932

Cash at bank and in hand

250,676

281,066

275,782

304,217

CREDITORS

Amounts falling due within one year

127,631

161,704

NET CURRENT ASSETS

148,151

142,513

TOTAL ASSETS LESS CURRENT LIABILITIES

173,928

176,233

CREDITORS

Amounts falling due after more than one year

(48,540

)

(68,376

)

PROVISIONS FOR LIABILITIES

-

(35

)

ACCRUALS AND DEFERRED INCOME

(8,625

)

(3,900

)

NET ASSETS

116,763

103,922

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

116,663

103,822

SHAREHOLDERS' FUNDS

116,763

103,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 2022 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 29 September 2022 and were signed on its behalf by:

G Mason - Director

H 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 8 (2021 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

117,220

Disposals

(20,609

)

At 31 March 2022

96,611

DEPRECIATION

At 1 April 2021

83,500

Charge for year

7,073

Eliminated on disposal

(19,739

)

At 31 March 2022

70,834

NET BOOK VALUE

At 31 March 2022

25,777

At 31 March 2021

33,720

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

Totals

£

COST

At 1 April 2021

and 31 March 2022

33,712

DEPRECIATION

At 1 April 2021

14,749

Charge for year

4,741

At 31 March 2022

19,490

NET BOOK VALUE

At 31 March 2022

14,222

At 31 March 2021

18,963

5.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.22

31.3.21

£

£

Gross obligations repayable:

Within one year

5,711

5,711

Between one and five years

15,937

21,648

21,648

27,359

Finance charges repayable:

Within one year

861

861

Between one and five years

2,411

3,272

3,272

4,133

Net obligations repayable:

Within one year

4,850

4,850

Between one and five years

13,526

18,376

18,376

23,226

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

£

Hire purchase contracts

18,376

23,226

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

7.	OTHER FINANCIAL COMMITMENTS

There were £331,812 of lease commitments as at the balance sheet date.(2021 : £373,514).