0 false false false false false false false false false false true false false false false true false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,657 200 2,857 2,035 719 2,754 103 622 xbrli:pure xbrli:shares iso4217:GBP 03593036 2023-01-01 2023-12-31 03593036 2023-12-31 03593036 2022-12-31 03593036 2022-01-01 2022-12-31 03593036 2022-12-31 03593036 2021-12-31 03593036 core:FurnitureFittings 2023-01-01 2023-12-31 03593036 bus:Director3 2023-01-01 2023-12-31 03593036 core:FurnitureFittings 2022-12-31 03593036 core:FurnitureFittings 2023-12-31 03593036 core:WithinOneYear 2023-12-31 03593036 core:WithinOneYear 2022-12-31 03593036 core:RetainedEarningsAccumulatedLosses 2023-12-31 03593036 core:RetainedEarningsAccumulatedLosses 2022-12-31 03593036 core:BetweenOneFiveYears 2023-12-31 03593036 core:BetweenOneFiveYears 2022-12-31 03593036 core:FurnitureFittings 2022-12-31 03593036 bus:SmallEntities 2023-01-01 2023-12-31 03593036 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03593036 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03593036 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 03593036 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 03593036
LONDON HOUSE ANTIQUES LIMITED
Company Limited by Guarantee
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
LONDON HOUSE ANTIQUES LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
103
622
Current assets
Debtors
6
2,487
2,320
Cash at bank and in hand
45,744
44,356
--------
--------
48,231
46,676
Creditors: amounts falling due within one year
7
4,399
6,949
--------
--------
Net current assets
43,832
39,727
--------
--------
Total assets less current liabilities
43,935
40,349
--------
--------
Net assets
43,935
40,349
--------
--------
Capital and reserves
Profit and loss account
43,935
40,349
--------
--------
Members funds
43,935
40,349
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LONDON HOUSE ANTIQUES LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
Mr S P Gilson
Director
Company registration number: 03593036
LONDON HOUSE ANTIQUES LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is London House, High Street, Moreton in Marsh, Gloucestershire, GL56 0AH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered..
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
50% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Company limited by guarantee
The liability of the members is limited.
Every member of the company undertakes to contribute such amount as may be required (not exceeding £1) to the assets of the company, if it should be wound up whilst he or she is a member.
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 January 2023
2,657
2,657
Additions
200
200
-------
-------
At 31 December 2023
2,857
2,857
-------
-------
Depreciation
At 1 January 2023
2,035
2,035
Charge for the year
719
719
-------
-------
At 31 December 2023
2,754
2,754
-------
-------
Carrying amount
At 31 December 2023
103
103
-------
-------
At 31 December 2022
622
622
-------
-------
6. Debtors
2023
2022
£
£
Other debtors
2,487
2,320
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
403
402
Corporation tax
963
2,564
Other creditors
3,033
3,983
-------
-------
4,399
6,949
-------
-------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Later than 1 year and not later than 5 years
21,500
43,000
--------
--------
9. Related party transactions
The company was under the control of all its members throughout the current and previous year. The company is limited by guarantee and therefore does not have share capital. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.