1 January 2023 false No description of principal activity Taxfiler 2024.5 true 09361871business:PrivateLimitedCompanyLtd2023-01-012023-12-31 093618712022-12-31 093618712023-01-012023-12-31 09361871business:AuditExempt-NoAccountantsReport2023-01-012023-12-31 09361871business:FilletedAccounts2023-01-012023-12-31 093618712023-12-31 09361871business:Director12023-01-012023-12-31 09361871business:RegisteredOffice2023-01-012023-12-31 093618712022-12-31 09361871core:WithinOneYear2023-12-31 09361871core:WithinOneYear2022-12-31 09361871core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 09361871core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 09361871core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 09361871core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 09361871core:PreviouslyStatedAmount2023-12-31 09361871core:PreviouslyStatedAmount2022-12-31 09361871business:SmallEntities2023-01-012023-12-31 09361871countries:EnglandWales2023-01-012023-12-31 09361871core:FurnitureFittings2023-01-012023-12-31 09361871core:FurnitureFittings2022-12-31 09361871core:FurnitureFittings2023-12-31 093618712022-01-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. 09361871 (England and Wales)
LONDON FOREIGN MONEY EXCHANGE LTD Unaudited accounts for the year ended 31 December 2023
LONDON FOREIGN MONEY EXCHANGE LTD Unaudited accounts Contents
Page
- 2 -
LONDON FOREIGN MONEY EXCHANGE LTD Company Information for the year ended 31 December 2023
Director
Mohsin Ali Ahmad ZAINI
Company Number
09361871 (England and Wales)
Registered Office
31 Queensway, London, England, W2 4QJ
- 3 -
LONDON FOREIGN MONEY EXCHANGE LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
452 
565 
Current assets
Inventories
72,953 
73,503 
Cash at bank and in hand
7,623 
6,391 
80,576 
79,894 
Creditors: amounts falling due within one year
(92,796)
(99,346)
Net current liabilities
(12,220)
(19,452)
Net liabilities
(11,768)
(18,887)
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
(12,768)
(19,887)
Shareholders' funds
(11,768)
(18,887)
For the year ending 31 December 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 director acknowledges his 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 and authorised for issue on 17 September 2024 and were signed on its behalf by
Mohsin Ali Ahmad ZAINI Director Company Registration No. 09361871
- 4 -
LONDON FOREIGN MONEY EXCHANGE LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
LONDON FOREIGN MONEY EXCHANGE LTD is a private company, limited by shares, registered in England and Wales, registration number 09361871. The registered office is 31 Queensway, , London, England, , W2 4QJ.
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% Reducing balance Method
Going concern
The financial statements have been prepared on a going concern basis. The directors have reviewed the company’s financial position, performance, and cash flow forecasts for the foreseeable future and are satisfied that the company has adequate resources to continue its operations for at least the next 12 months. This includes consideration of the company's liquidity, access to financing, and overall market conditions. Based on this assessment, the directors believe there are no material uncertainties that cast significant doubt on the company’s ability to continue as a going concern. Therefore, the financial statements are appropriately prepared on this basis.
- 5 -
LONDON FOREIGN MONEY EXCHANGE LTD Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 January 2023
3,029 
At 31 December 2023
3,029 
Depreciation
At 1 January 2023
2,464 
Charge for the year
113 
At 31 December 2023
2,577 
Net book value
At 31 December 2023
452 
At 31 December 2022
565 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
72,953 
73,503 
72,953 
73,503 
Stock represents goods held for resale and is measured at the lower of cost and net realizable value. Cost is determined on a first-in, first-out (FIFO) basis and includes all costs of purchase, such as transportation and handling, directly attributable to bringing the stock to its present location and condition. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. At each reporting date, stock is assessed for impairment, and a provision is made where the carrying amount exceeds its recoverable value. Any obsolescence or slow-moving items are written down to reflect their net realizable value.
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Loans from directors
92,796 
99,346 
7
Average number of employees
During the year the average number of employees was 3 (2022: 3).
- 6 -