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Registration number: 08153541

Angie's London Limited

Unaudited Filleted Financial Statements

for the Period from 1 December 2021 to 31 May 2023

 

Angie's London Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Angie's London Limited

(Registration number: 08153541)
Balance Sheet as at 31 May 2023

Note

2023
£

2021
£

Fixed assets

 

Tangible assets

4

103,427

91,956

Current assets

 

Stocks

5

3,104

3,750

Debtors

6

18,499

19,057

Cash at bank and in hand

 

159,250

205,771

 

180,853

228,578

Creditors: Amounts falling due within one year

7

(98,963)

(95,555)

Net current assets

 

81,890

133,023

Total assets less current liabilities

 

185,317

224,979

Creditors: Amounts falling due after more than one year

7

(25,060)

(40,000)

Net assets

 

160,257

184,979

Capital and reserves

 

Called up share capital

8

200

200

Share premium reserve

109,945

109,945

Retained earnings

50,112

74,834

Shareholders' funds

 

160,257

184,979

 

Angie's London Limited

(Registration number: 08153541)
Balance Sheet as at 31 May 2023

For the financial period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 February 2024
 

.........................................
Ms Angie Steele
Director

 

Angie's London Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2021 to 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 Chiswick High Road
London
W4 1PU

These financial statements were authorised for issue by the director on 19 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Angie's London Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2021 to 31 May 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Long leasehold property

Over the life of the lease (12 years)

Plant and machinery

15% straight line

Fixtures and fittings

Over the life of the lease (12 years)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Angie's London Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2021 to 31 May 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 12 (2021 - 12).

 

Angie's London Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2021 to 31 May 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2021

117,854

61,816

49,931

229,601

Additions

-

22,610

5,699

28,309

At 31 May 2023

117,854

84,426

55,630

257,910

Depreciation

At 1 December 2021

70,780

24,290

42,575

137,645

Charge for the period

9,808

7,030

-

16,838

At 31 May 2023

80,588

31,320

42,575

154,483

Carrying amount

At 31 May 2023

37,266

53,106

13,055

103,427

At 30 November 2021

47,074

35,748

9,134

91,956

Included within the net book value of land and buildings above is £37,266 (2021 - £47,074) in respect of long leasehold land and buildings.
 

5

Stocks

2023
£

2021
£

Other inventories

3,104

3,750

6

Debtors

Current

2023
£

2021
£

Trade debtors

928

1,089

Prepayments

14,867

17,968

Other debtors

2,704

-

 

18,499

19,057

 

Angie's London Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2021 to 31 May 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2021
£

Due within one year

 

Loans and borrowings

9

9,778

10,000

Trade creditors

 

36,187

42,397

Taxation and social security

 

19,741

18,813

Accruals and deferred income

 

750

15,165

Other creditors

 

32,507

9,180

 

98,963

95,555

Creditors: amounts falling due after more than one year

Note

2023
£

2021
£

Due after one year

 

Loans and borrowings

9

25,060

40,000

8

Share capital

Allotted, called up and fully paid shares

 

2023

2021

 

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

         

9

Loans and borrowings

2023
£

2021
£

Non-current loans and borrowings

Bank borrowings

25,060

40,000

 

Angie's London Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2021 to 31 May 2023

2023
£

2021
£

Current loans and borrowings

Bank borrowings

9,778

10,000

10

Dividends

Interim dividends paid

   

2023
£

 

2021
£

Interim dividend of 388.89 (2021 - 170.00) per each Ordinary shares

 

77,778

 

34,000