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88 London Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Capital & Co (Accountants) Ltd
Capital House
1A Ewell By Pass
Epsom
Surrey
KT17 2PZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10492083
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 162,500 104,000
162,500 104,000
CURRENT ASSETS
Debtors 5 7,716 20,459
Cash at bank and in hand 26,235 12,654
33,951 33,113
Creditors: Amounts Falling Due Within One Year 6 (8,124 ) (7,848 )
NET CURRENT ASSETS (LIABILITIES) 25,827 25,265
TOTAL ASSETS LESS CURRENT LIABILITIES 188,327 129,265
Creditors: Amounts Falling Due After More Than One Year 7 (48,719 ) (53,587 )
NET ASSETS 139,608 75,678
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 139,607 75,677
SHAREHOLDERS' FUNDS 139,608 75,678
Page 1
Page 2
For the year ending 30 November 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 Profit and Loss Account.
On behalf of the board
Mr David Richards
Director
15/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
88 London Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10492083 . The registered office is 28 Leeward Court , Asher Way, London, E1W 2JY.
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 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Plant & Machinery Reducing Balance
Motor Vehicles Reducing Balance
Fixtures & Fittings Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 1)
5 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 December 2022 143,312 15,590 22,133 181,035
Additions 75,786 - - 75,786
As at 30 November 2023 219,098 15,590 22,133 256,821
Depreciation
As at 1 December 2022 55,312 8,590 13,133 77,035
Provided during the period 13,786 1,500 2,000 17,286
As at 30 November 2023 69,098 10,090 15,133 94,321
Net Book Value
As at 30 November 2023 150,000 5,500 7,000 162,500
As at 1 December 2022 88,000 7,000 9,000 104,000
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 7,716 20,459
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 8,124 7,848
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 12,594 17,458
Directors loan account 36,125 36,129
48,719 53,587
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4