2022-07-312023-07-302023-07-30false09125771ALDERSGATE LOWFIELD 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ALDERSGATE LOWFIELD LTD

Registered Number
09125771
(England and Wales)

Unaudited Financial Statements for the Year ended
30 July 2023

ALDERSGATE LOWFIELD LTD
Company Information
for the year from 31 July 2022 to 30 July 2023

Director

Bikaramjit Singh Dosanjh

Registered Address

Able House
61 Gorst Road
London
NW10 6LS

Registered Number

09125771 (England and Wales)
ALDERSGATE LOWFIELD LTD
Balance Sheet as at
30 July 2023

Notes

2023

2022

£

£

£

£

Current assets
Stocks3523,600523,600
Debtors37,68237,682
Cash at bank and on hand957-
562,239561,282
Creditors amounts falling due within one year4(1,000)(1,000)
Net current assets (liabilities)561,239560,282
Total assets less current liabilities561,239560,282
Creditors amounts falling due after one year5(823,107)(752,200)
Net assets(261,868)(191,918)
Capital and reserves
Called up share capital1,0001,000
Profit and loss account(262,868)(192,918)
Shareholders' funds(261,868)(191,918)
The financial statements were approved and authorised for issue by the Director on 23 April 2024, and are signed on its behalf by:
Bikaramjit Singh Dosanjh
Director
Registered Company No. 09125771
ALDERSGATE LOWFIELD LTD
Notes to the Financial Statements
for the year ended 30 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The company meets day to day working capital requirements from director related entities or the director. The director has undertaken an assessment of whether the company was a going concern when the accounts were prepared, considering all available information about the future, covering a period of 12 months from the date of approval of the accounts. Funds to meet the cashflow requirements are in place and the director does not anticipate any material overspend. The director is therefore satisfied that the going concern assumption remains appropriate.
Judgements and key sources of estimation uncertainty
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year11
3.Stocks

2023

2022

££
Finished goods523,600523,600
Total523,600523,600
4.Creditors: amounts due within one year

2023

2022

££
Accrued liabilities and deferred income1,0001,000
Total1,0001,000
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts472,500402,108
Other creditors350,607350,092
Total823,107752,200
6.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of going the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the company becomes aware of the obligation and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.