London Active Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04140339 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2021

FOR

LONDON ACTIVE MANAGEMENT LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTORS:

R N Sinclair

P Sinclair

SECRETARY:

P Sinclair

REGISTERED OFFICE:

Lower Ground Floor

1 George Yard

London

EC3V 9DF

REGISTERED NUMBER:

04140339 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Tangible assets

4

403

805

Investments

5

3,667

6,158

4,070

6,963

CURRENT ASSETS

Debtors

6

519

-

Cash at bank

23

7,950

542

7,950

CREDITORS

Amounts falling due within one year

7

(37,295

)

(28,861

)

NET CURRENT LIABILITIES

(36,753

)

(20,911

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(32,683

)

(13,948

)

PROVISIONS FOR LIABILITIES

8

(86

)

(559

)

NET LIABILITIES

(32,769

)

(14,507

)

CAPITAL AND RESERVES

Called up share capital

9

150

150

Fair value reserve

10

443

2,934

Retained earnings

10

(33,362

)

(17,591

)

SHAREHOLDERS' FUNDS

(32,769

)

(14,507

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2021 and were signed on its behalf by:

R N Sinclair - Director

1.	STATUTORY INFORMATION

London Active Management 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 as modified by the revaluation of certain assets.

Monetary amounts are rounded to the nearest pound.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.33% on cost

Investments

Fixed asset investments are recognised at market value at the balance sheet date. Additions are recognised at historical cost plus transaction costs. Increases or decreases in market value are reflected in the fair value reserve.

Cash and cash equivalent

Cash and cash equivalent include cash in hand and deposits held at call with banks.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets

Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive Income

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other payables that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest .

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method.

Going Concern

The accounts have been prepared under the going concern basis. This is deemed to be appropriate due to the ongoing support of the director.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2020

and 31 January 2021

1,207

DEPRECIATION

At 1 February 2020

402

Charge for year

402

At 31 January 2021

804

NET BOOK VALUE

At 31 January 2021

403

At 31 January 2020

805

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 February 2020

6,158

Revaluations

(2,491

)

At 31 January 2021

3,667

NET BOOK VALUE

At 31 January 2021

3,667

At 31 January 2020

6,158

Cost or valuation at 31 January 2021 is represented by:

Other

investments

£

Valuation in 2020

6,158

Valuation in 2021

(2,491

)

3,667

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2021

2020

£

£

Cost

8,802

8,802

Fixed asset investments were valued on an open market basis on 31 January 2021 by The London Stock Exchange .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

519

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

4,210

6,829

Other creditors

33,085

22,032

37,295

28,861

8.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

86

559

Deferred

tax

£

Balance at 1 February 2020

559

Provided during year

(473

)

Deferred tax on investments

Balance at 31 January 2021

86

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

147

Non-Voting Ordinary

£1

147

147

3

Voting Ordinary

£1

3

3

150

150

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 February 2020

(17,591

)

2,934

(14,657

)

Deficit for the year

(15,771

)

(15,771

)

Purchase of own shares

-

(2,491

)

(2,491

)

At 31 January 2021

(33,362

)

443

(32,919

)

11.	RELATED PARTY DISCLOSURES

R N Sinclair

A company director.

2021

2020

£

£

Amount due to related party at the balance sheet date

24,831

13,119

Sinclair Goldsmith Executive Pension

A pension scheme where a trustee is a director

2021

2020

£

£

Amount due to related party at the balance sheet date

4,280

4,280

12.	ULTIMATE CONTROLLING PARTY

The controlling party is R N Sinclair.

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 Statement of Financial Position. Readers are cautioned that the Income Statement 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 London Active Management Limited for the year ended 31 January 2021 which comprise the Income Statement, Statement of Financial Position 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 London Active Management 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 London Active Management Limited and state those matters that we have agreed to state to the Board of Directors of London Active Management 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 London Active Management Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that London Active Management 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 loss of London Active Management Limited. You consider that London Active Management 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 London Active Management 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.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

22 October 2021