LONDON STREET ART LTD - Accounts

LONDON STREET ART LTD - Company Information

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Registered Number: 12397222

England and Wales

LONDON STREET ART LTD

Unaudited Financial Statements

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

LONDON STREET ART LTD
Contents Page
For the year ended 31 January 2024

Company information	1
Statement of financial position	2
Notes to the financial statements	3

LONDON STREET ART LTD
Company Information
For the year ended 31 January 2024

Directors	Mr A L Calamita Mr T M Rowland
Registered Number	12397222
Registered Office	Windfall House D1 The Courtyard Alban Park St. Albans AL4 0LA
Accountants	Windfall Accounting LLP Windfall House D1 The Courtyard, Alban Park St Albans AL4 0LA

LONDON STREET ART LTD
Statement of Financial Position
As at 31 January 2024

	Notes	2024 £	2023 £
Current assets
Stocks	3	390,500	390,500
Debtors	4	135	126
Cash at bank and in hand		563	909
		391,198	391,535
Creditors: amount falling due within one year	5	(333,364)	(332,321)
Net current assets		57,834	59,214

Total assets less current liabilities		57,834	59,214
Net assets		57,834	59,214

Capital and reserves
Called up share capital		100	100
Profit and loss account		57,734	59,114
Shareholder's funds		57,834	59,214

For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 02 May 2024 and were signed on its behalf by:

-------------------------------
Mr A L Calamita
Director

LONDON STREET ART LTD
Notes to the Financial Statements
For the year ended 31 January 2024

General Information

LONDON STREET ART LTD is a private company, limited by shares, registered in England and Wales, registration number 12397222, registration address Windfall House, D1 The Courtyard Alban Park, St. Albans, AL4 0LA.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

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 taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Current and deferred tax assets and liabilities are not discounted.

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.

2.	Average number of employees Average number of employees during the year was 2 (2023 : 2).

Stocks

	2024 £		2023 £
Stocks	390,500		390,500
	390,500		390,500

Debtors: amounts falling due within one year

	2024 £		2023 £
VAT	135		126
	135		126

Creditors: amount falling due within one year

	2024 £	2023 £
Trade Creditors	106	0
Corporation Tax	0	1,360
Accrued Expenses	558	361
Directors' Current Accounts	332,700	330,600
	333,364	332,321

6.	Related party note Creditors due within one year include an interest free amount of £332,700 (2023 - 330,600) due to the directors. This amount is repayable on demand.