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REGISTERED NUMBER: 03625543 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

29 FEBRUARY 2024

FOR

LONDON LOUNGE LIMITED

LONDON LOUNGE LIMITED (REGISTERED NUMBER: 03625543)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LONDON LOUNGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: M Turner
D Turner





SECRETARY: BH21 Ltd





REGISTERED OFFICE: Elson Geaves
Forest Links Road
Ferndown
Dorset
BH22 9PH





REGISTERED NUMBER: 03625543 (England and Wales)





ACCOUNTANTS: Elson Geaves Accountants
Chartered Certified Accountants
Elson Geaves
Forest Links Road
Ferndown
Dorset
BH22 9PH

LONDON LOUNGE LIMITED (REGISTERED NUMBER: 03625543)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,407 55,532

CURRENT ASSETS
Stocks 206,459 199,522
Debtors 5 600 950
Prepayments and accrued income 5,034 5,319
Cash at bank and in hand 957,184 1,013,159
1,169,277 1,218,950
CREDITORS
Amounts falling due within one year 6 366,117 370,987
NET CURRENT ASSETS 803,160 847,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

847,567

903,495

CAPITAL AND RESERVES
Called up share capital 1,003 1,003
Retained earnings 846,564 902,492
SHAREHOLDERS' FUNDS 847,567 903,495

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LONDON LOUNGE LIMITED (REGISTERED NUMBER: 03625543)

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:




M Turner - Director



D Turner - Director


LONDON LOUNGE LIMITED (REGISTERED NUMBER: 03625543)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

London Lounge Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

LONDON LOUNGE LIMITED (REGISTERED NUMBER: 03625543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 3,333 250,735 254,068
DEPRECIATION
At 1 March 2023 2,891 195,645 198,536
Charge for year 107 11,018 11,125
At 29 February 2024 2,998 206,663 209,661
NET BOOK VALUE
At 29 February 2024 335 44,072 44,407
At 28 February 2023 442 55,090 55,532

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 600 950

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 163,106 185,288
Taxation and social security 101,696 69,848
Other creditors 101,315 115,851
366,117 370,987

7. ULTIMATE CONTROLLING PARTY

The controlling party is M Turner.