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Company Registration No. 11915178 (England and Wales)
Luella Grey London Ltd Unaudited accounts for the year ended 31 March 2024
Luella Grey London Ltd Unaudited accounts Contents
Page
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Luella Grey London Ltd Company Information for the year ended 31 March 2024
Directors
Rachel Benton Sarah Bidwell James Radford
Company Number
11915178 (England and Wales)
Registered Office
46 Hyde Road Croydon CR2 9NP
Accountants
JP Accountancy Services (Sussex) Limited 5 Fairfield Way Ashington Pulborough West Sussex RH20 3LA
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Luella Grey London Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,485 
4,566 
Current assets
Inventories
60,134 
17,900 
Debtors
488,728 
154,757 
Cash at bank and in hand
100,600 
63,788 
649,462 
236,445 
Creditors: amounts falling due within one year
(486,512)
(153,758)
Net current assets
162,950 
82,687 
Total assets less current liabilities
169,435 
87,253 
Provisions for liabilities
Deferred tax
(1,613)
(1,142)
Net assets
167,822 
86,111 
Capital and reserves
Called up share capital
80 
50 
Profit and loss account
167,742 
86,061 
Shareholders' funds
167,822 
86,111 
For the year ending 31 March 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by
Sarah Bidwell Director Company Registration No. 11915178
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Luella Grey London Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Luella Grey London Ltd is a private company, limited by shares, registered in England and Wales, registration number 11915178. The registered office is 46 Hyde Road, Croydon, CR2 9NP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Luella Grey London Ltd Notes to the Accounts for the year ended 31 March 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
2,877 
2,740 
5,617 
Additions
220 
3,523 
3,743 
At 31 March 2024
3,097 
6,263 
9,360 
Depreciation
At 1 April 2023
427 
624 
1,051 
Charge for the year
432 
1,392 
1,824 
At 31 March 2024
859 
2,016 
2,875 
Net book value
At 31 March 2024
2,238 
4,247 
6,485 
At 31 March 2023
2,450 
2,116 
4,566 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
454,070 
151,246 
Accrued income and prepayments
34,658 
3,511 
488,728 
154,757 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
8,426 
8,287 
Trade creditors
261,483 
8,520 
Taxes and social security
88,532 
74,909 
Other creditors
891 
- 
Loans from directors
45,437 
31,523 
Accruals
43,886 
30,519 
Deferred income
37,857 
- 
486,512 
153,758 
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Luella Grey London Ltd Notes to the Accounts for the year ended 31 March 2024
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
1,613 
1,142 
2024 
2023 
£ 
£ 
Provision at start of year
1,142 
- 
Charged to the profit and loss account
471 
1,142 
Provision at end of year
1,613 
1,142 
8
Average number of employees
During the year the average number of employees was 3 (2023: 1).
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