LATHAMS OF LONDON LIMITED

Company Registration Number:
09571742 (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

LATHAMS OF LONDON LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Additional notes
Balance sheet notes

LATHAMS OF LONDON LIMITED

Balance sheet

As at 30 June 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 19,792 29,292
Tangible assets: 4 450,235 529,031
Total fixed assets: 470,027 558,323
Current assets
Debtors: 5 231,709 276,321
Cash at bank and in hand: 7,435
Total current assets: 239,144 276,321
Creditors: amounts falling due within one year: 6 ( 373,471 ) ( 434,302 )
Net current assets (liabilities): (134,327) (157,981)
Total assets less current liabilities: 335,700 400,342
Creditors: amounts falling due after more than one year: 7 ( 275,489 ) ( 341,264 )
Total net assets (liabilities): 60,211 59,078
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 60,111 58,978
Total Shareholders' funds: 60,211 59,078

The notes form part of these financial statements

LATHAMS OF LONDON 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

LATHAMS OF LONDON 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:Plant and equipment 10% per annum on costFixtures and fittings 20% 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.

    Intangible fixed assets amortisation policy

    Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

LATHAMS OF LONDON LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 18 18

LATHAMS OF LONDON LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 July 2022 95,000 95,000
Additions
Disposals
Revaluations
Transfers
At 30 June 2023 95,000 95,000
Amortisation
At 1 July 2022 65,708 65,708
Charge for year 9,500 9,500
On disposals
Other adjustments
At 30 June 2023 75,208 75,208
Net book value
At 30 June 2023 19,792 19,792
At 30 June 2022 29,292 29,292

LATHAMS OF LONDON LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2022 994,013 994,013
Additions
Disposals
Revaluations
Transfers
At 30 June 2023 994,013 994,013
Depreciation
At 1 July 2022 464,982 464,982
Charge for year 78,796 78,796
On disposals
Other adjustments
At 30 June 2023 543,778 543,778
Net book value
At 30 June 2023 450,235 450,235
At 30 June 2022 529,031 529,031

LATHAMS OF LONDON LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Debtors

2023 2022
£ £
Trade debtors 89,280 128,689
Other debtors 142,429 147,632
Total 231,709 276,321

LATHAMS OF LONDON 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 34,537
Trade creditors 31,535 143,119
Taxation and social security 109,309 14,956
Other creditors 232,627 241,690
Total 373,471 434,302

LATHAMS OF LONDON 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 25,233 25,233
Amounts due under finance leases and hire purchase contracts 250,256 316,031
Total 275,489 341,264