Registered number
06860792
London Domestic Appliances (UK) Ltd
Filleted Accounts
31 March 2023
London Domestic Appliances (UK) Ltd
Registered number: 06860792
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 3,000 3,500
Tangible assets 4 79,109 68,817
82,109 72,317
Current assets
Stocks 634,600 260,488
Cash at bank and in hand 479,365 592,687
1,113,965 853,175
Creditors: amounts falling due within one year 5 (564,211) (435,097)
Net current assets 549,754 418,078
Total assets less current liabilities 631,863 490,395
Creditors: amounts falling due after more than one year 6 (19,932) (29,732)
Net assets 611,931 460,663
Capital and reserves
Called up share capital 100 100
Profit and loss account 611,831 460,563
Shareholders' funds 611,931 460,663
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Shahid Mahmood
Director
Approved by the board on 19 October 2023
London Domestic Appliances (UK) Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% on reducing balance method
Motor Vehicles 20% on reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 21 16
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 10,000
At 31 March 2023 10,000
Amortisation
At 1 April 2022 6,500
Provided during the year 500
At 31 March 2023 7,000
Net book value
At 31 March 2023 3,000
At 31 March 2022 3,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 45,219 115,320 160,539
Additions 1,569 28,500 30,069
At 31 March 2023 46,788 143,820 190,608
Depreciation
At 1 April 2022 31,359 60,363 91,722
Charge for the year 3,086 16,691 19,777
At 31 March 2023 34,445 77,054 111,499
Net book value
At 31 March 2023 12,343 66,766 79,109
At 31 March 2022 13,860 54,957 68,817
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,749 10,980
Trade creditors 263,138 175,849
Taxation and social security costs 124,947 89,157
Other creditors 165,377 159,111
564,211 435,097
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,932 29,732
7 Related party transactions
There was no related party transaction apart from salary paid to the director.
8 Other information
London Domestic Appliances (UK) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
334 Bethnal Green Road
Bethnal Green
London
E2 0AG
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