LONDON'S PRIDE LTD - Accounts

LONDON'S PRIDE LTD - Accounts

LONDON'S PRIDE LTD - Company Information

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Registered Number: 07925431


 

 

 

LONDON'S PRIDE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023

LONDON'S PRIDE LTD
Contents Page
For the year ended 31 January 2023
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 254,159    300,798 
254,159    300,798 
Current assets      
Stocks 483,287    214,784 
Debtors: amounts falling due within one year 876,934    1,048,390 
Cash at bank and in hand 1,808    12,832 
1,362,029    1,276,006 
Creditors: amount falling due within one year (747,871)   (713,086)
Net current assets 614,158    562,920 
 
Total assets less current liabilities 868,317    863,718 
Creditors: amount falling due after more than one year (822,446)   (1,046,678)
Net assets 45,871    (182,960)
 

Capital and reserves 		     
Called up share capital 1,000    1,000 
Profit and loss account 44,871    (183,960)
Shareholder's funds 45,871    (182,960)
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 31 October 2023 and were signed on its behalf by:


-------------------------------
Rafeeque OLIKKATHODI
Director		-------------------------------
Khajahussain KIZHAKKEPURATH MOHIYUDEEN
Director
1
General Information
LONDON'S PRIDE LTD is a private company, limited by shares, registered in , registration number 07925431, registration address UNIT 20-21B THE COLONNADES, ALBERT DOCK , LIVERPOOL, L3 4AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Basis of Preparation
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20 Reducing Balance
Fixtures and Fittings 15 Reducing Balance
Computer Equipment 20 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 23 (2022 : 23).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 February 2022 12,800    479,259    41,635    533,694 
Additions -    -    -    - 
Disposals -    -    -    - 
At 31 January 2023 12,800    479,259    41,635    533,694 
Depreciation
At 01 February 2022 3,584    208,854    20,457    232,895 
Charge for year 1,843    40,561    4,236    46,640 
On disposals -    -    -    - 
At 31 January 2023 5,427    249,415    24,693    279,535 
Net book values
Closing balance as at 31 January 2023 7,373    229,844    16,942    254,159 
Opening balance as at 01 February 2022 9,216    270,404    21,178    300,798 


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