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REGISTERED NUMBER: 05312402 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

LONDON & WHARFEDALE LTD

LONDON & WHARFEDALE LTD (REGISTERED NUMBER: 05312402)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LONDON & WHARFEDALE LTD

COMPANY INFORMATION
for the year ended 30 November 2021







DIRECTORS: Mr S G Clark
Mr R L Froggatt
Mr N P Mellor





SECRETARY: Mr N P Mellor





REGISTERED OFFICE: Unit 2 Charnwood Edge Business Park
Syston Road
Cossington
Leicester
Leicestershire
LE7 4UZ





REGISTERED NUMBER: 05312402 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2
Charnwood Edge Business Park
Syston Road
Leicester
LE7 4UZ

LONDON & WHARFEDALE LTD (REGISTERED NUMBER: 05312402)

BALANCE SHEET
30 November 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 53 53
53 53

CURRENT ASSETS
Debtors 6 199,652 198,505
Cash at bank 1,136 3,420
200,788 201,925
CREDITORS
Amounts falling due within one year 7 (247,204 ) (243,462 )
NET CURRENT LIABILITIES (46,416 ) (41,537 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(46,363

)

(41,484

)

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Retained earnings (546,363 ) (541,484 )
SHAREHOLDERS' FUNDS (46,363 ) (41,484 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2022 and were signed on its behalf by:





Mr N P Mellor - Director


LONDON & WHARFEDALE LTD (REGISTERED NUMBER: 05312402)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2021


1. STATUTORY INFORMATION

London & Wharfedale Ltd is a private limited company, limited by shares, registered in England and Wales. Its registered office address is Unit 2 Charnwood Edge Business Park, Syston Road, Cossington, Leicester, LE7 4UZ and the registered number is 05312402.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% straight line

Investments in subsidiaries
Investment in the subsidiary company is held at cost less accumulated impairment losses.

Financial instruments
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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.


LONDON & WHARFEDALE LTD (REGISTERED NUMBER: 05312402)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2021


2. ACCOUNTING POLICIES - continued
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 December 2020
and 30 November 2021 44,204
DEPRECIATION
At 1 December 2020
and 30 November 2021 44,204
NET BOOK VALUE
At 30 November 2021 -
At 30 November 2020 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2020
and 30 November 2021 53
NET BOOK VALUE
At 30 November 2021 53
At 30 November 2020 53

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 199,564 198,416
VAT 88 89
199,652 198,505

LONDON & WHARFEDALE LTD (REGISTERED NUMBER: 05312402)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2021


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 2 2
Other creditors 3 3
Directors' current accounts 221,500 217,500
Accrued expenses 25,699 25,957
247,204 243,462