Registered number
06856798
North London Trading Company Limited
Filleted Accounts
31 July 2023
North London Trading Company Limited Registered number
Balance Sheet 06856798
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,840 3,285
Investments 4 142,746 142,746
146,586 146,031
Current assets
Debtors 5 901,829 787,822
Cash at bank and in hand 1,324 5,708
903,153 793,530
Creditors: amounts falling due within one year 6 (989,123) (878,137)
Net current liabilities (85,970) (84,607)
Total assets less current liabilities 60,616 61,424
Creditors: amounts falling due after more than one year 7 (32,165) (37,679)
Net assets 28,451 23,745
Capital and reserves
Called up share capital 2 2
Profit and loss account 28,449 23,743
Shareholders' funds 28,451 23,745
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P A L Smith
Director
Approved by the board on 11 October 2024
North London Trading Company Limited
Notes to the Accounts
for the year ended 31 July 2023
1 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.
Group accounts
The company and its subsidiary company comprise a small-sized group and the company is therefore not required to prepare group accounts. Accordingly, the financial statements present information about the company as an individual undertaking rather than consolidated accounts for the group.
Investments
The investment in the subsidiary company is stated at cost, subject to a provision for diminution in value should the market value be considered to be less than its cost.
Turnover
Turnover represents commission, fees and rents receivable.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less depreciation. Depreciation has been provided at the following rate in order to write off the assets over their estimated useful lives:
Equipment - 25% p.a. on the reducing balance basis
2 Employees 2023 2022
Number Number
Average number of employees and company officers 2 2
3 Tangible fixed assets
Equipment
£
Cost
At 1 August 2022 14,672
Additions 1,835
At 31 July 2023 16,507
Depreciation
At 1 August 2022 11,387
Charge for the year 1,280
At 31 July 2023 12,667
Net book value
At 31 July 2023 3,840
At 31 July 2022 3,285
4 Investments
Subsidiary
undertaking
£
Cost
At 1 August 2022 142,746
At 31 July 2023 142,746
5 Debtors 2023 2022
£ £
Amounts owed by related companies 887,968 777,600
Other debtors 13,861 10,222
901,829 787,822
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan 5,514 5,514
Trade creditors 9,139 16,180
Amounts owed to subsidiary company 519,185 586,636
Amounts owed to related companies 318,105 165,033
Corporation tax 121,091 97,160
Other taxes and social security - 223
Other creditors 16,089 7,391
989,123 878,137
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan 32,165 37,679
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due after more than five years 10,109 15,623
9 Controlling parties
At 31 July 2023 the company was controlled by the director, Mr P A L Smith, and his wife since between them they owned the company's entire issued share capital.
10 Other information
North London Trading Company Limited is a private company limited by shares and incorporated in England. Its registered office is 6 Crown Street, Brentwood, Essex CM14 4BA.
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