IRIS Accounts Production v23.3.0.418 07392424 Board of Directors 1.11.21 31.1.23 31.1.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073924242021-10-31073924242023-01-31073924242021-11-012023-01-31073924242020-10-31073924242020-11-012021-10-31073924242021-10-3107392424ns10:Originalns15:EnglandWales2021-11-012023-01-3107392424ns14:PoundSterlingns10:Original2021-11-012023-01-3107392424ns10:Originalns10:Director12021-11-012023-01-3107392424ns10:Original2021-11-012023-01-3107392424ns10:Original2023-01-3107392424ns10:Originalns10:PrivateLimitedCompanyLtd2021-11-012023-01-3107392424ns10:Originalns10:SmallEntities2021-11-012023-01-3107392424ns10:Originalns10:AuditExempt-NoAccountantsReport2021-11-012023-01-3107392424ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2021-11-012023-01-3107392424ns10:SmallCompaniesRegimeForAccountsns10:Original2021-11-012023-01-3107392424ns10:Originalns10:FullAccounts2021-11-012023-01-3107392424ns10:Original12021-11-012023-01-3107392424ns10:Originalns10:Director22021-11-012023-01-3107392424ns10:Originalns10:Director32021-11-012023-01-3107392424ns10:Originalns10:Director42021-11-012023-01-3107392424ns10:CompanySecretary1ns10:Original2021-11-012023-01-3107392424ns10:Originalns10:RegisteredOffice2021-11-012023-01-3107392424ns10:Original2021-10-3107392424ns10:Originalns5:CurrentFinancialInstruments2023-01-3107392424ns10:Originalns5:CurrentFinancialInstruments2021-10-3107392424ns5:ShareCapitalns10:Original2023-01-3107392424ns5:ShareCapitalns10:Original2021-10-3107392424ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-3107392424ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-10-3107392424ns10:Originalns5:NetGoodwill2021-11-012023-01-3107392424ns5:IntangibleAssetsOtherThanGoodwillns10:Original2021-11-012023-01-3107392424ns10:Originalns5:PlantMachinery2021-11-012023-01-3107392424ns10:Originalns5:ComputerEquipment2021-11-012023-01-3107392424ns10:Original2020-11-012021-10-3107392424ns10:Originalns5:NetGoodwill2021-10-3107392424ns10:Originalns5:NetGoodwill2023-01-3107392424ns10:Originalns5:NetGoodwill2021-10-3107392424ns10:Originalns5:PlantMachinery2021-10-3107392424ns10:Originalns5:ComputerEquipment2021-10-3107392424ns10:Original2021-10-3107392424ns10:Originalns5:PlantMachinery2023-01-3107392424ns10:Originalns5:ComputerEquipment2023-01-3107392424ns10:Originalns5:PlantMachinery2021-10-3107392424ns10:Originalns5:ComputerEquipment2021-10-3107392424ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3107392424ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-10-31
REGISTERED NUMBER: 07392424 (England and Wales)















LONDON STITCH AND PRINT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 NOVEMBER 2021 TO 31 JANUARY 2023






LONDON STITCH AND PRINT LIMITED (REGISTERED NUMBER: 07392424)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2021 TO 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LONDON STITCH AND PRINT LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 NOVEMBER 2021 TO 31 JANUARY 2023







DIRECTORS: P McFarland
P Lawford
Mrs S McFarland
G D Miller





SECRETARY: Mrs S McFarland





REGISTERED OFFICE: Celixir House
Stratford Business and Technology Park
Stratford-upon-Avon
Warwickshire
CV37 7GZ





REGISTERED NUMBER: 07392424 (England and Wales)





ACCOUNTANTS: Murphy Salisbury Limited
Chartered Accountants
Celixir House
Stratford Business and Technology Park
Stratford-upon-Avon
Warwickshire
CV37 7GZ

LONDON STITCH AND PRINT LIMITED (REGISTERED NUMBER: 07392424)

BALANCE SHEET
31 JANUARY 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 39,147 9,063
39,147 9,063

CURRENT ASSETS
Stocks 2,900 2,755
Debtors 6 30,155 24,463
Cash at bank and in hand 1,201 5,166
34,256 32,384
CREDITORS
Amounts falling due within one year 7 110,180 56,535
NET CURRENT LIABILITIES (75,924 ) (24,151 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(36,777

)

(15,088

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (36,877 ) (15,188 )
SHAREHOLDERS' FUNDS (36,777 ) (15,088 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2023 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 STITCH AND PRINT LIMITED (REGISTERED NUMBER: 07392424)

BALANCE SHEET - continued
31 JANUARY 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:





P McFarland - Director


LONDON STITCH AND PRINT LIMITED (REGISTERED NUMBER: 07392424)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2021 TO 31 JANUARY 2023

1. STATUTORY INFORMATION

London Stitch and Print 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.

Due to the on-going support of the director, the accounts have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% straight line basis

Government grants
Government grants are recognised in profit or loss on a systematic basis over the periods in which the company recognises expenses for the related costs for which the grants are intended to compensate. Grants relate to the income received as a result of the Covid pandemic.

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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


LONDON STITCH AND PRINT LIMITED (REGISTERED NUMBER: 07392424)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2021 TO 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued
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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2021 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2021
and 31 January 2023 500
AMORTISATION
At 1 November 2021
and 31 January 2023 500
NET BOOK VALUE
At 31 January 2023 -
At 31 October 2021 -

LONDON STITCH AND PRINT LIMITED (REGISTERED NUMBER: 07392424)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2021 TO 31 JANUARY 2023

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 November 2021 25,621 10,347 35,968
Additions 39,175 2,000 41,175
At 31 January 2023 64,796 12,347 77,143
DEPRECIATION
At 1 November 2021 17,355 9,550 26,905
Charge for period 10,426 665 11,091
At 31 January 2023 27,781 10,215 37,996
NET BOOK VALUE
At 31 January 2023 37,015 2,132 39,147
At 31 October 2021 8,266 797 9,063

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors 17,400 16,259
Amounts owed by group undertakings 10,569 6,706
Other debtors 2,186 1,498
30,155 24,463

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts 13,687 -
Trade creditors 1,918 1,818
Taxation and social security 21,124 28,329
Other creditors 73,451 26,388
110,180 56,535