Company Registration No. 11915178 (England and Wales)
Luella Grey London Ltd
Unaudited accounts
for the year ended 31 March 2023
Luella Grey London Ltd
Unaudited accounts
Contents
Luella Grey London Ltd
Company Information
for the year ended 31 March 2023
Directors
Rachel Benton
Sarah Bidwell
James Radford
Company Number
11915178 (England and Wales)
Registered Office
46 Hyde Road
Croydon
CR2 9NP
Accountants
JP Accountancy Services (Sussex) Limited
5 Fairfield Way
Ashington
Pulborough
West Sussex
RH20 3LA
Luella Grey London Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
4,566
1,783
Cash at bank and in hand
63,788
49,200
Creditors: amounts falling due within one year
(153,758)
(90,234)
Net current assets/(liabilities)
82,687
(4,788)
Total assets less current liabilities
87,253
(3,005)
Provisions for liabilities
Net assets/(liabilities)
86,111
(3,005)
Called up share capital
50
40
Profit and loss account
86,061
(3,045)
Shareholders' funds
86,111
(3,005)
For the year ending 31 March 2023 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 June 2023 and were signed on its behalf by
Sarah Bidwell
Director
Company Registration No. 11915178
Luella Grey London Ltd
Notes to the Accounts
for the year ended 31 March 2023
Luella Grey London Ltd is a private company, limited by shares, registered in England and Wales, registration number 11915178. The registered office is 46 Hyde Road, Croydon, CR2 9NP.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Luella Grey London Ltd
Notes to the Accounts
for the year ended 31 March 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
1,545
500
2,045
Additions
1,332
2,240
3,572
At 31 March 2023
2,877
2,740
5,617
At 1 April 2022
140
122
262
Charge for the year
287
502
789
At 31 March 2023
427
624
1,051
At 31 March 2023
2,450
2,116
4,566
At 31 March 2022
1,405
378
1,783
Amounts falling due within one year
Trade debtors
151,246
30,246
Accrued income and prepayments
3,511
-
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
8,520
3,230
Taxes and social security
74,909
17,704
Loans from directors
31,523
50,911
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Average number of employees
During the year the average number of employees was 1 (2022: 0).