North London Trading Company Limited |
Registered number |
Balance Sheet |
06856798 |
as at 31 July 2022 |
|
|
Notes |
|
|
2022 |
|
|
2021 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
3,285 |
|
|
2,920 |
Investments |
3 |
|
|
142,746 |
|
|
142,746 |
|
|
|
|
146,031 |
|
|
145,666 |
|
Current assets |
Debtors |
4 |
|
787,822 |
|
|
11,841 |
Cash at bank and in hand |
|
|
5,708 |
|
|
426,589 |
|
|
|
793,530 |
|
|
438,430 |
|
Creditors: amounts falling due within one year |
5 |
|
(878,137) |
|
|
(481,530) |
|
Net current liabilities |
|
|
|
(84,607) |
|
|
(43,100) |
|
Total assets less current liabilities |
|
|
|
61,424 |
|
|
102,566 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(37,679) |
|
|
(43,193) |
|
Net assets |
|
|
|
23,745 |
|
|
59,373 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
23,743 |
|
|
59,371 |
|
Shareholders' funds |
|
|
|
23,745 |
|
|
59,373 |
|
|
|
|
|
|
|
|
|
|
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. |
|
|
|
|
P A L Smith |
Director |
Approved by the board on 27 October 2023 |
|
North London Trading Company Limited |
Notes to the Accounts |
for the year ended 31 July 2022 |
|
|
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. |
|
|
Group accounts |
|
The company and its subsidiary company comprise a small-sized group and the company is therefore not required to prepare group accounts. Accordingly, the financial statements present information about the company as an individual undertaking rather than consolidated accounts for the group. |
|
|
Investments |
|
The investment in the subsidiary company is stated at cost, subject to a provision for diminution in value should the market value be considered to be less than its cost. |
|
|
Turnover |
|
Turnover represents commission, fees and rents receivable. |
|
|
Grants receivable |
|
Government grants are recognised as income in the period to which the entitlement relates. |
|
|
Tangible fixed assets and depreciation |
|
Tangible fixed assets are measured at cost less depreciation. Depreciation has been provided at the following rate in order to write off the assets over their estimated useful lives: |
|
Equipment - |
25% p.a. on the reducing balance basis |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
|
2 |
Tangible fixed assets |
|
|
|
|
|
|
Equipment |
£ |
|
Cost |
|
At 1 August 2021 |
13,213 |
|
Additions |
1,459 |
|
At 31 July 2022 |
14,672 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2021 |
10,293 |
|
Charge for the year |
1,094 |
|
At 31 July 2022 |
11,387 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2022 |
3,285 |
|
At 31 July 2021 |
2,920 |
|
|
|
3 |
Investments |
Subsidiary |
undertaking |
£ |
|
Cost |
|
At 1 August 2021 |
142,746 |
|
|
At 31 July 2022 |
142,746 |
|
|
|
4 |
Debtors |
2022 |
|
2021 |
£ |
£ |
|
|
Other debtors |
787,822 |
|
11,841 |
|
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
£ |
£ |
|
|
Bank loan |
5,514 |
|
5,514 |
|
Trade creditors |
16,180 |
|
12,854 |
|
Corporation tax |
|
|
|
|
97,160 |
|
91,628 |
|
Other taxes and social security |
223 |
|
- |
|
Other creditors |
759,060 |
|
371,534 |
|
|
|
|
|
|
878,137 |
|
481,530 |
|
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
£ |
£ |
|
|
Bank loan |
37,679 |
|
43,193 |
|
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2022 |
|
2021 |
£ |
£ |
|
Creditors include: |
|
Instalments falling due after more than five years |
15,623 |
|
21,137 |
|
|
|
|
|
|
|
|
|
|
|
8 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of employees |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
|
9 |
Controlling parties |
|
|
At 31 July 2022 the company was controlled by the director, Mr P A L Smith, and his wife since between them they owned the company's entire issued share capital. |
|
|
|
10 |
Other information |
|
|
North London Trading Company Limited is a private company limited by shares and incorporated in England. Its registered office is 6 Crown Street, Brentwood, Essex CM14 4BA. |