LONDON FAMILY GROUP LIMITED

Company Registration Number:
09570920 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 1 July 2022

End date: 30 June 2023

LONDON FAMILY GROUP LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Additional notes
Balance sheet notes

LONDON FAMILY GROUP LIMITED

Balance sheet

As at 30 June 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 3,100,000 1,824,162
Investments: 4 200 200
Total fixed assets: 3,100,200 1,824,362
Current assets
Debtors: 5 245,582 245,582
Cash at bank and in hand: 19,949 27,197
Total current assets: 265,531 272,779
Creditors: amounts falling due within one year: 6 ( 225,654 ) ( 208,658 )
Net current assets (liabilities): 39,877 64,121
Total assets less current liabilities: 3,140,077 1,888,483
Creditors: amounts falling due after more than one year: 7 ( 1,692,248 ) ( 1,783,887 )
Total net assets (liabilities): 1,447,829 104,596
Capital and reserves
Called up share capital: 12,000 12,000
Other reserves: 1,294,644
Profit and loss account: 141,185 92,596
Total Shareholders' funds: 1,447,829 104,596

The notes form part of these financial statements

LONDON FAMILY GROUP LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 26 January 2024
and signed on behalf of the board by:

Name: T Latham
Status: Director

The notes form part of these financial statements

LONDON FAMILY GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Freehold land and buildings 1% per annum on costThe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Valuation information and policy

    Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses arerecognised immediately in profit or loss.A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterminterest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.Entities in which the company has a long term interest and shares control under a contractual arrangementare classified as jointly controlled entities.

LONDON FAMILY GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

LONDON FAMILY GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2022 1,880,580 1,880,580
Additions
Disposals
Revaluations 1,219,420 1,219,420
Transfers
At 30 June 2023 3,100,000 3,100,000
Depreciation
At 1 July 2022 56,418 56,418
Charge for year 18,806 18,806
On disposals
Other adjustments 75,224 75,224
At 30 June 2023 0 0
Net book value
At 30 June 2023 3,100,000 3,100,000
At 30 June 2022 1,824,162 1,824,162

Land and buildings with a carrying amount of £3,100,000 were revalued at 10 July 2023 by Chris Monkhouse of Frank Knight LLP independent valuers not connected with the company on the basis of market value. The valuation conforms to international Valuation Standards and was based on recent market transactions onarm's length terms for similar properties.Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been approximately £1,805,356 (2022 - £1,824,162) being cost £1,880,580 (2022 - £1,824,162) and depreciation £75,224 (2022 - £56,418).

LONDON FAMILY GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Fixed assets investments note

Shares in group undertakings and participating interests £200 (2022 - £200)

LONDON FAMILY GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Debtors

2023 2022
£ £
Other debtors 245,582 245,582
Total 245,582 245,582

LONDON FAMILY GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 8,805 9,230
Taxation and social security 121,744 104,323
Other creditors 95,105 95,105
Total 225,654 208,658

LONDON FAMILY GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

7. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 522,233 613,872
Other creditors 1,170,015 1,170,015
Total 1,692,248 1,783,887