Registered number
06856798
North London Trading Company Limited
Filleted Accounts
31 July 2022
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.
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