CLASSIC LOFTS (LONDON) LIMITED

Company Registration Number:
06111895 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

CLASSIC LOFTS (LONDON) LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

CLASSIC LOFTS (LONDON) LIMITED

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 66,196 41,208
Total fixed assets: 66,196 41,208
Current assets
Stocks: 94,361 79,119
Debtors:   345,115 395,334
Cash at bank and in hand: 25,502
Total current assets: 464,978 474,453
Creditors: amounts falling due within one year:   (412,862) (462,344)
Net current assets (liabilities): 52,116 12,109
Total assets less current liabilities: 118,312 53,317
Creditors: amounts falling due after more than one year: 4 (108,741) (43,333)
Total net assets (liabilities): 9,571 9,984
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 9,471 9,884
Shareholders funds: 9,571 9,984

The notes form part of these financial statements

CLASSIC LOFTS (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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

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

This report was approved by the board of directors on 29 July 2024
and signed on behalf of the board by:

Name: Bernard Patrick Doran
Status: Director

The notes form part of these financial statements

CLASSIC LOFTS (LONDON) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

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

Turnover policy

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

Tangible fixed assets and depreciation policy

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.Depreciation is provided on the following basis:Plant & machinery - 25%Motor vehicles - 25%Fixtures & fittings - 25%Office equipment - 25%The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Valuation and information policy

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

CLASSIC LOFTS (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 2 2

CLASSIC LOFTS (LONDON) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible Assets

Total
Cost £
At 01 July 2022 95,668
Additions 47,054
At 30 June 2023 142,722
Depreciation
At 01 July 2022 54,460
Charge for year 22,066
At 30 June 2023 76,526
Net book value
At 30 June 2023 66,196
At 30 June 2022 41,208

CLASSIC LOFTS (LONDON) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

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

Trade creditors £172,241Taxation and social security £178,411Other creditors £55,442Accruals and deffered income £6,768