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Registered number: 02674517
London Executive Accommodation & Relocations Limited
Unaudited ABRIDGED Financial Statements
For the Period 1 August 2023 to 31 December 2023
Lee Christian & Co Limited
Chartered Certified Accountants
Suite 222 Cuffley Point
Cuffley Place, Sopers Road
Cuffley
Hertfordshire
EN6 4RY
Contents
Page
Company Information 1
Abridged Statement of Financial Position 2—3
Notes to the Abridged Financial Statements 4—6
Page 1
Company Information
Directors Mr G Verdis
Mrs F Verdis
Secretary Mrs F Verdis
Company Number 02674517
Registered Office C/O Lee Christian & Co Limited
Suite 222 Cuffley Point
Cuffley Place, Sopers Road
Cuffley, Hertfordshire
EN6 4RY
Accountants Lee Christian & Co Limited
Chartered Certified Accountants
Suite 222 Cuffley Point
Cuffley Place, Sopers Road
Cuffley
Hertfordshire
EN6 4RY
Page 1
Page 2
Abridged Statement of Financial Position
Registered number: 02674517
31 December 2023 31 July 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 59,212 61,794
59,212 61,794
CURRENT ASSETS
Debtors 167,867 117,245
Cash at bank and in hand 250,041 185,127
417,908 302,372
Creditors: Amounts Falling Due Within One Year (101,259 ) (70,647 )
NET CURRENT ASSETS (LIABILITIES) 316,649 231,725
TOTAL ASSETS LESS CURRENT LIABILITIES 375,861 293,519
Creditors: Amounts Falling Due After More Than One Year (17,500 ) (21,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,803 ) (12,291 )
NET ASSETS 343,558 259,561
CAPITAL AND RESERVES
Called up share capital 5 2,060 2,060
Income Statement 341,498 257,501
SHAREHOLDERS' FUNDS 343,558 259,561
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Page 3
For the period ending 31 December 2023 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr G Verdis
Director
18th April 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Abridged Financial Statements
1. General Information
London Executive Accommodation & Relocations Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02674517 . The registered office is C/O Lee Christian & Co Limited, Suite 222 Cuffley Point, Cuffley Place, Sopers Road, Cuffley, Hertfordshire, EN6 4RY.
The presentation currency of the accounts is in Pound Sterling (£).
The company shortened their reporting period to 31 December 2023 to allow for better business planning during less busy trading periods. Due to this, the comparative amounts presented in the financial statements are not entirely comparable.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered stated net of discounts, other sales taxes and value added tax.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Straight line over 30 years
Fixtures & Fittings 10% on reducing balance
The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable.
The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in the profit and loss account and included in the other operating income. 
2.4. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant, property and equipment are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.
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2.5. Taxation
Taxaion for the year comprises 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 statement of comprehensive income 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 is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.7. Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
2.8. Creditors
Short term trade 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.
2.9. Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense in the period in which they are incurred.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.10. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.
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3. Average Number of Employees
Average number of employees, including directors, during the period was: 7 (2023: 9)
7 9
4. Tangible Assets
Total
£
Cost
As at 1 August 2023 286,286
As at 31 December 2023 286,286
Depreciation
As at 1 August 2023 224,492
Provided during the period 2,582
As at 31 December 2023 227,074
Net Book Value
As at 31 December 2023 59,212
As at 1 August 2023 61,794
5. Share Capital
31 December 2023 31 July 2023
£ £
Allotted, Called up and fully paid 2,060 2,060
6. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Georgios Verdis - 32,214 - - 32,214
Mrs Fotini Verdis 12,339 4,500 - - 16,839
The above loan is unsecured, interest free and repayable on demand.
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