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REGISTERED NUMBER: 03625543 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 FEBRUARY 2022

FOR

LONDON LOUNGE LIMITED

LONDON LOUNGE LIMITED (REGISTERED NUMBER: 03625543)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LONDON LOUNGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2022







DIRECTORS: M Turner
D Turner





SECRETARY: BH21 Ltd





REGISTERED OFFICE: 12 Haviland Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7RG





REGISTERED NUMBER: 03625543 (England and Wales)





ACCOUNTANTS: Elson Geaves Accountants
Chartered Certified Accountants
12 Haviland Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7RG

LONDON LOUNGE LIMITED (REGISTERED NUMBER: 03625543)

BALANCE SHEET
28 FEBRUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,239 30,809

CURRENT ASSETS
Stocks 197,426 210,546
Debtors 5 500 44,010
Prepayments and accrued income 6,048 2,150
Cash at bank and in hand 1,020,690 743,281
1,224,664 999,987
CREDITORS
Amounts falling due within one year 6 389,596 310,979
NET CURRENT ASSETS 835,068 689,008
TOTAL ASSETS LESS CURRENT
LIABILITIES

861,307

719,817

CAPITAL AND RESERVES
Called up share capital 1,003 1,003
Retained earnings 860,304 718,814
SHAREHOLDERS' FUNDS 861,307 719,817

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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.

LONDON LOUNGE LIMITED (REGISTERED NUMBER: 03625543)

BALANCE SHEET - continued
28 FEBRUARY 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:




M Turner - Director



D Turner - Director


LONDON LOUNGE LIMITED (REGISTERED NUMBER: 03625543)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

1. STATUTORY INFORMATION

London Lounge Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits

LONDON LOUNGE LIMITED (REGISTERED NUMBER: 03625543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2021 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2021 3,333 214,113 217,446
Additions - 1,959 1,959
At 28 February 2022 3,333 216,072 219,405
DEPRECIATION
At 1 March 2021 2,677 183,960 186,637
Charge for year 107 6,422 6,529
At 28 February 2022 2,784 190,382 193,166
NET BOOK VALUE
At 28 February 2022 549 25,690 26,239
At 28 February 2021 656 30,153 30,809

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 500 44,010

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 50,000
Trade creditors 154,421 123,615
Taxation and social security 88,971 51,669
Other creditors 146,204 85,695
389,596 310,979

7. ULTIMATE CONTROLLING PARTY

The controlling party is M Turner.