Registered number:
L&H (LONDON) Limited
UNAUDITED
FOR THE YEAR ENDED 31 March 2021
L&H (LONDON) Limited
Contents
Company Information |
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Directors' Report |
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Profit and Loss Account |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Detailed Profit and Loss Account |
L&H (LONDON) Limited
Company Information
Directors |
A D Stocker S Roberts C Stocker |
Registered office |
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L&H (LONDON) Limited
Directors' Report for the Year Ended 31 March 2021
The directors present their report and the financial statements for the year ended 31 March 2021.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is Property development
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
......................................... |
L&H (LONDON) Limited
Profit and Loss Account for the Year Ended 31 March 2021
Note |
2021 |
2020 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Operating profit |
12,033 |
4,227 |
|
Profit before tax |
|
|
|
Tax on profit |
|
( |
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
L&H (LONDON) Limited
L&H (LONDON) Limited
Registered number:
07885408
Balance Sheet
as at
31 March 2021
Note |
2021 |
2020 |
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
1,000 |
1,000 |
|
Profit and loss account |
28,211 |
15,328 |
|
Shareholders' funds |
29,211 |
16,328 |
For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
L&H (LONDON) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in UNITED KINGDOM.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Pound Sterling
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in countries where the company operates and generates income.
L&H (LONDON) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
L&H (LONDON) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021
Debtors |
2021 |
2020 |
|
Trade debtors |
|
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
|
Due within one year |
||
Trade creditors |
|
|
Taxation and social security |
- |
|
Accruals and deferred income |
|
|
|
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L&H (LONDON) Limited
Detailed Profit and Loss Account for the Year Ended 31 March 2021
2021 |
2020 |
Turnover |
||
Sale of goods, UK |
1,402,284 |
222,866 |
Cost of sales |
||
Direct costs |
(1,163,242) |
(185,758) |
General administrative expenses |
||
Insurance |
(35,418) |
(1,645) |
General maintenance |
(95,000) |
- |
Office expenses |
(41) |
(13) |
Computer software and maintenance costs |
(732) |
(48) |
Accountancy fees |
(2,000) |
(1,200) |
Consultancy fees |
(93,075) |
(29,633) |
Bank charges |
(743) |
(342) |
(227,009) |
(32,881) |