Stamford London Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10472424 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

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

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 2022 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

18 September 2023

FIXED ASSETS

Intangible assets

4

167,616

209,520

Tangible assets

5

42,849

56,326

210,465

265,846

CURRENT ASSETS

Stocks

192,387

281,225

Debtors

6

2,844,126

2,544,619

Cash at bank

918,461

1,317,987

3,954,974

4,143,831

CREDITORS

Amounts falling due within one year

7

141,725

435,358

NET CURRENT ASSETS

3,813,249

3,708,473

TOTAL ASSETS LESS CURRENT LIABILITIES

4,023,714

3,974,319

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

1,970,767

1,970,767

Retained earnings

2,052,847

2,003,452

SHAREHOLDERS' FUNDS

4,023,714

3,974,319

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 18 September 2023 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2022

and 31 December 2022

419,040

AMORTISATION

At 1 January 2022

209,520

Charge for year

41,904

At 31 December 2022

251,424

NET BOOK VALUE

At 31 December 2022

167,616

At 31 December 2021

209,520

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2022

1,434

37,245

65,233

11,888

115,800

Additions

-

-

-

1,405

1,405

At 31 December 2022

1,434

37,245

65,233

13,293

117,205

DEPRECIATION

At 1 January 2022

1,094

22,179

29,007

7,194

59,474

Charge for year

85

3,766

9,057

1,974

14,882

At 31 December 2022

1,179

25,945

38,064

9,168

74,356

NET BOOK VALUE

At 31 December 2022

255

11,300

27,169

4,125

42,849

At 31 December 2021

340

15,066

36,226

4,694

56,326

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

432,078

738,671

Amounts owed by connected company

1,500,000

840,000

Other debtors

907,092

907,092

Deferred tax asset

4,956

3,231

Prepayments

-

55,625

2,844,126

2,544,619

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 1.75% p.a. The interest is receivable annually in arrears at the end of the term of the loan.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

-

3,750

Tax

45,255

318,677

Social security and other taxes

242

115

VAT

29,607

38,238

Other creditors

1,210

71

Directors' current accounts

62,911

72,007

Accrued expenses

2,500

2,500

141,725

435,358

8.	DEFERRED TAX

£

Balance at 1 January 2022

(3,231

)

Provided during year

(1,725

)

Movement

Balance at 31 December 2022

(4,956

)

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed £31,513 (2022: £36,004) to Mr N R Radia, and £31,398 (2022: £36,004) to Mrs J N Radia, directors of the company.

During the year, the company paid dividends of £94,700 (2021: £84,000) to a couple of the directors.