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REGISTERED NUMBER: 06248677















Unaudited Financial Statements for the Year Ended 29 October 2023

for

LONDON TIME RETAIL LIMITED

LONDON TIME RETAIL LIMITED (REGISTERED NUMBER: 06248677)

Contents of the Financial Statements
for the Year Ended 29 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LONDON TIME RETAIL LIMITED

Company Information
for the Year Ended 29 October 2023







DIRECTOR: Ms B Szymanska





SECRETARY: N K Zeynel





REGISTERED OFFICE: 27 Russell Road
Whetstone
London
N20 0TN





REGISTERED NUMBER: 06248677





ACCOUNTANTS: Malshahz Accountants
27 Russell Road
Whetstone
London
N20 0TN

LONDON TIME RETAIL LIMITED (REGISTERED NUMBER: 06248677)

Balance Sheet
29 October 2023

29.10.23 29.10.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 59,534 70,040
59,534 70,040

CURRENT ASSETS
Stocks 218,486 186,000
Debtors 6 27,533 13,875
Cash at bank and in hand 3,303 18,976
249,322 218,851
CREDITORS
Amounts falling due within one year 7 (981,845 ) (963,519 )
NET CURRENT LIABILITIES (732,523 ) (744,668 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(672,989

)

(674,628

)

CREDITORS
Amounts falling due after more than one
year

8

(26,574

)

(32,130

)

PROVISIONS FOR LIABILITIES (2,630 ) (2,630 )
NET LIABILITIES (702,193 ) (709,388 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (702,293 ) (709,488 )
SHAREHOLDERS' FUNDS (702,193 ) (709,388 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LONDON TIME RETAIL LIMITED (REGISTERED NUMBER: 06248677)

Balance Sheet - continued
29 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 June 2024 and were signed by:





Ms B Szymanska - Director


LONDON TIME RETAIL LIMITED (REGISTERED NUMBER: 06248677)

Notes to the Financial Statements
for the Year Ended 29 October 2023


1. STATUTORY INFORMATION

London Time Retail Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

During the year the company made a profit of £7,195 (2022 £5,707) and at the balance sheet date its liabilities exceeded its total assets by £702,193 (2022 £709,388). The directors and shareholders have confirmed that they will continue to financially support the company's operations.

Owing to the continuing availability of financial support, it is considered appropriate to prepare the financial statements on the going concern basis which assumes that the company will be in operational existence for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
The purchased goodwill in october 2008 is written off on the basis of the remaining period of lease.of a shop premises.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


LONDON TIME RETAIL LIMITED (REGISTERED NUMBER: 06248677)

Notes to the Financial Statements - continued
for the Year Ended 29 October 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 30 October 2022
and 29 October 2023 62,342
AMORTISATION
At 30 October 2022
and 29 October 2023 62,342
NET BOOK VALUE
At 29 October 2023 -
At 29 October 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 30 October 2022
and 29 October 2023 257,028 198,407 455,435
DEPRECIATION
At 30 October 2022 227,657 157,738 385,395
Charge for year 4,406 6,100 10,506
At 29 October 2023 232,063 163,838 395,901
NET BOOK VALUE
At 29 October 2023 24,965 34,569 59,534
At 29 October 2022 29,371 40,669 70,040

LONDON TIME RETAIL LIMITED (REGISTERED NUMBER: 06248677)

Notes to the Financial Statements - continued
for the Year Ended 29 October 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.23 29.10.22
£    £   
Other debtors 27,533 13,875

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.23 29.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 18,879 2,039
Taxation and social security 755 7,280
Other creditors 952,211 944,200
981,845 963,519

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.10.23 29.10.22
£    £   
Bank loans 26,574 32,130