LONDON SHARED COLIVING LIMITED

Company Registration Number:
14371462 (England and Wales)

Unaudited abridged accounts for the year ended 29 February 2024

Period of accounts

Start date: 22 September 2022

End date: 29 February 2024

LONDON SHARED COLIVING LIMITED

Contents of the Financial Statements

for the Period Ended 29 February 2024

Balance sheet
Notes

LONDON SHARED COLIVING LIMITED

Balance sheet

As at 29 February 2024


Notes

17 months to 29 February 2024


£
Fixed assets
Investments: 3 38,530
Total fixed assets: 38,530
Current assets
Debtors:   23,118
Cash at bank and in hand: 182,880
Total current assets: 205,998
Creditors: amounts falling due within one year: 4 (242,812)
Net current assets (liabilities): (36,814)
Total assets less current liabilities: 1,716
Total net assets (liabilities): 1,716
Capital and reserves
Called up share capital: 100
Profit and loss account: 1,616
Shareholders funds: 1,716

The notes form part of these financial statements

LONDON SHARED COLIVING LIMITED

Balance sheet statements

For the year ending 29 February 2024 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 04 July 2024
and signed on behalf of the board by:

Name: J Willis
Status: Director

The notes form part of these financial statements

LONDON SHARED COLIVING LIMITED

Notes to the Financial Statements

for the Period Ended 29 February 2024

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

Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the 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.

Intangible fixed assets and amortisation policy

Investments are capitalised legal costs related to the acquisition of property contracts where the income derives following the period end. The cost of investments will be amortised over 10 years.

Other accounting policies

Basis of preparation The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). Debtors Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Pensions Contributions to defined contribution plans are expensed in the period to which they relate

LONDON SHARED COLIVING LIMITED

Notes to the Financial Statements

for the Period Ended 29 February 2024

2. Employees

17 months to 29 February 2024
Average number of employees during the period 2

LONDON SHARED COLIVING LIMITED

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Fixed investments

Investments are capitalised legal costs related to the acquisition of property contracts where the income derives following the period end. The cost of investments will be amortised over 10 years.

LONDON SHARED COLIVING LIMITED

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Creditors: amounts falling due within one year note

Trade creditors 10,358 Corporation Tax 21,644 Other taxation 5,707 Other creditors and accrued expenses 205,103 ----------- £ 242,812 =======

LONDON SHARED COLIVING LIMITED

Notes to the Financial Statements

for the Period Ended 29 February 2024

5. Related party transactions

Name of the related party: Living Central Limited
Relationship:
Group company
Description of the Transaction: Other debtors represents the amount due from Living Central Limited at the balance sheet date arising from transactions which occurred following the purchase of the Company. All of the related transactions resulting the in period. Year end balances are interest-free and repayable on demand.
£
Balance at 29 February 2024 959
Name of the related party:
Relationship:
Holding company
Description of the Transaction: Other creditors and accrued expenses includes £ 152,300 due to London Shared Limited arising from dividends voted during the period and apportioned expenses paid by London Shared Limited on behalf of London Shared Coliving Limited.
£
Balance at 29 February 2024 152,300