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Registered Number: 08494048
England and Wales

 

 

 

LTE LONDON FRANCHISE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 23,846    34,295 
23,846    34,295 
Current assets      
Stocks 660,000    654,109 
Debtors 162,646    42,227 
Cash at bank and in hand (6,622)   19,038 
816,024    715,374 
Creditors: amount falling due within one year (889,241)   (736,733)
Net current liabilities (73,217)   (21,359)
 
Total assets less current liabilities (49,371)   12,936 
Creditors: amount falling due after more than one year (70,885)   (133,546)
Net liabilities (120,256)   (120,610)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (120,356)   (120,710)
Shareholder's funds (120,256)   (120,610)
 


For the accounting year the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 15 June 2023 and were signed on its behalf by:


-------------------------------
Sheikh Aliur Rahman
Director
1
General Information
LTE LONDON FRANCHISE LTD is a private company, limited by shares, registered in England and Wales, registration number 08494048, registration address C/O Unit 50a, Greatorex Street, London, E1 5NP

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Cost of sales
Cost of sales comprises the invoiced value of goods and services considered by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings Over number of lease Straight Line
Plant and Machinery 15% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Staff Costs

2023   2022
 
Average number of employees during the year Number   Number
Administration 1    1 
Research and development 1    2 
Sales 1    1 
Marketing 1    1 
Distribution   1 
 

3.

Average number of employees

Average number of employees during the year was 4 (2022 : 6).
4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Improvements to property   Total
  £   £   £   £   £   £
At 01 April 2022 14,640    584    21,169    2,486    12,345    51,224 
Additions          
Disposals   (441)   (7,940)   (1,484)     (9,865)
At 31 March 2023 14,640    143    13,229    1,002    12,345    41,359 
Depreciation
At 01 April 2022 2,555    143    13,229    1,002      16,929 
Charge for year 584            584 
On disposals          
At 31 March 2023 3,139    143    13,229    1,002      17,513 
Net book values
Closing balance as at 31 March 2023 11,501          12,345    23,846 
Opening balance as at 01 April 2022 12,085    441    7,940    1,484    12,345    34,295 


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