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London Shopfitters Limited
|
Registered Number
:
03118973
|
For the year ended 31 October 2021
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 31 October 2021
London Shopfitters Limited
Contents Page
2
Directors' Report
3
Independent Accountants' Report
4
Income Statement
5
Statement of Financial Position
6
Statement of Changes in Equity
7 to 9
Notes to the Financial Statements
3
For the year ended 31 October 2021
London Shopfitters Limited
Company Information
Surjit Singh
Directors
Gurdip Singh Toot
Gurprit Singh Toot
Gurprit Singh Toot
Company Secretary
03118973
Unit 6, Blackwater Close
Marsh Way
Rainham
Essex
RM13 8UA
Mr P K R Chowdhury M Com FFA FIPA FAIA
Accountants
London Accountancy Limited
International Accountants
41 Highwood Gardens
Greater London
IG5 0AZ
Barclays Bank Plc
Bankers
1 of 9
4
For the year ended 31 October 2021
London Shopfitters Limited
Directors' Report
The directors present their report and accounts for the year ended 31 October 2021.
The principal activity of the company continued to be that of manufacturing shopfronts, shutters and security grills.
Directors
The directors who served the company throughout the year were as follows:
Surjit Singh
Gurdip Singh Toot
Gurprit Singh Toot
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
|
18 March 2022
2 of 9
5
For the year ended 31 October 2021
London Shopfitters Limited
Independent Accountants' Report
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements
|
for the year ended
31
October
2021
and you consider that the company is exempt from an audit under the Companies
|
Act
2006
.
In accordance with your instructions
,
we have compiled these unaudited financial statements in order to
|
assist you to fulfil your statutory responsibilities
,
from the accounting records and information and explanations
|
supplied to us
.
|
London Accountancy Limited
Mr P K R Chowdhury M Com FFA FIPA FAIA
International Accountants
41 Highwood Gardens
Greater London
IG5 0AZ
18 March 2022
3 of 9
6
For the year ended 31 October 2021
London Shopfitters Limited
Income Statement
2020
2021
4,754,024
3,334,646
(2,619,572)
(3,723,446)
715,074
Gross profit
1,030,578
(144,941)
(142,201)
(789,985)
(764,764)
95,652
(191,891)
258,767
201,139
Operating profit
354,419
9,248
Other interest receivable and similar income
|
47
811
354,466
10,059
Profit before taxation
(29,029)
24,644
2
325,437
Profit for the financial year
34,703
4 of 9
7
London Shopfitters Limited
Statement of Financial Position
2020
2021
Property
,
plant and equipment
|
243,507
241,682
3
243,507
241,682
440,600
145,500
4
Trade and other receivables
|
405,706
616,052
5
852,609
Cash and cash equivalents
|
1,263,890
2,025,442
1,698,915
Trade and other payables
:
amounts falling due within one
|
year
|
(759,937)
(715,352)
6
938,978
1,310,090
Net current assets
Total assets less current liabilities
|
1,553,597
1,180,660
Trade and other payables
:
amounts falling due after more
|
than one year
|
-
(47,500)
7
1,506,097
Net assets
1,180,660
9
9
1,506,086
1,180,649
2
2
1,506,097
1,180,660
Shareholders' funds
For the year ended 31 October 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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 in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 18 March 2022 and were signed by:
|
The notes form part of these financial statements
|
5 of 9
8
For the year ended 31 October 2021
London Shopfitters Limited
Statement of Changes in Equity
Share capital
Capital
|
redemption
|
reserve
|
Total
Balance at
01
November
2019
|
9
1,145,946
2
1,145,957
34,703
34,703
Profit/Loss for the period
Balance at
31
October
2020
and
01
November
|
2020
|
1,180,660
2
1,180,649
9
325,437
325,437
Profit/Loss for the year
Balance at
31
October
2021
|
9
1,506,086
2
1,506,097
6 of 9
9
For the year ended 31 October 2021
London Shopfitters Limited
Notes to the Financial Statements
Statutory Information
London Shopfitters Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
|
registration number
03118973
.
|
Unit 6, Blackwater Close
Marsh Way
Rainham
Essex
RM13 8UA
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
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:
|
Land and buildings
Plant and machinery
Motor vehicles
Fixtures and fittings
Inventories
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.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
|
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
|
7 of 9
10
For the year ended 31 October 2021
London Shopfitters Limited
Notes to the Financial Statements Continued
2020
The taxation charge is based on the taxable profit for the year and
|
comprises
:
|
2021
65,937
6,699
Over
/
under provision in prior year
|
(36,908)
(31,343)
Tax on profit on ordinary activities
|
29,029
(24,644)
3
.
Property
,
plant and equipment
|
Motor vehicles
786,560
73,476
164,081
541,233
7,770
58,377
17,020
34,856
6,501
-
-
(35,180)
-
-
(35,180)
547,734
163,757
90,496
809,757
7,770
Provision for depreciation and impairment
|
544,878
51,079
125,310
363,464
5,025
Charge for year
51,154
5,912
17,054
27,641
547
(29,782)
-
(29,782)
-
-
566,250
56,991
112,582
391,105
5,572
2,198
156,629
51,175
33,505
243,507
2,745
177,769
38,771
22,397
241,682
2020
2021
145,500
440,600
5
.
Trade and other receivables
|
2020
2021
578,405
373,480
37,647
32,226
405,706
616,052
8 of 9
11
For the year ended 31 October 2021
London Shopfitters Limited
Notes to the Financial Statements Continued
6
.
Trade and other payables
:
amounts falling due within one year
|
2020
2021
2,500
-
504,067
608,012
Taxation and social security
|
192,035
135,175
16,750
16,750
715,352
759,937
7
.
Trade and other payables
:
amounts falling due after more than one year
|
2020
2021
47,500
-
8
.
Average number of persons employed
|
During the year the average number of employees was 37 (2020 : 31)
9 of 9