Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06190148 Miss Irene Kaimakamis Mr Frixos Nicos Kaimakamis Mr Andreas Kaimakamis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06190148 2023-03-31 06190148 2024-03-31 06190148 2023-04-01 2024-03-31 06190148 frs-core:CurrentFinancialInstruments 2024-03-31 06190148 frs-core:Non-currentFinancialInstruments 2024-03-31 06190148 frs-core:FurnitureFittings 2024-03-31 06190148 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06190148 frs-core:FurnitureFittings 2023-03-31 06190148 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 06190148 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06190148 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 06190148 frs-core:ShareCapital 2024-03-31 06190148 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06190148 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06190148 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06190148 frs-bus:SmallEntities 2023-04-01 2024-03-31 06190148 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06190148 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06190148 frs-bus:Director1 2023-04-01 2024-03-31 06190148 frs-bus:Director2 2023-04-01 2024-03-31 06190148 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 06190148 frs-countries:EnglandWales 2023-04-01 2024-03-31 06190148 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-03-31 06190148 2022-03-31 06190148 2023-03-31 06190148 2022-04-01 2023-03-31 06190148 frs-core:CurrentFinancialInstruments 2023-03-31 06190148 frs-core:Non-currentFinancialInstruments 2023-03-31 06190148 frs-core:ShareCapital 2023-03-31 06190148 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06190148
London Assets Limited
Financial Statements
For The Year Ended 31 March 2024
C.Charles & Co Limited
Chartered Certified Accountants
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 06190148
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,721,717 10,722,928
10,721,717 10,722,928
CURRENT ASSETS
Debtors 5 91,693 76,726
Cash at bank and in hand 881 16,166
92,574 92,892
Creditors: Amounts Falling Due Within One Year 6 (27,888 ) (72,115 )
NET CURRENT ASSETS (LIABILITIES) 64,686 20,777
TOTAL ASSETS LESS CURRENT LIABILITIES 10,786,403 10,743,705
Creditors: Amounts Falling Due After More Than One Year 7 (11,360,682 ) (10,814,995 )
NET LIABILITIES (574,279 ) (71,290 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement (574,379 ) (71,390 )
SHAREHOLDERS' FUNDS (574,279) (71,290)
Page 1
Page 2
For the year ending 31 March 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Frixos Nicos Kaimakamis
Director
11 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
London Assets Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06190148 . The registered office is 51 The Grove, London, W5 5DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0
Fixtures & Fittings 15
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 10,714,853 11,176 10,726,029
As at 31 March 2024 10,714,853 11,176 10,726,029
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 - 3,101 3,101
Provided during the period - 1,211 1,211
As at 31 March 2024 - 4,312 4,312
Net Book Value
As at 31 March 2024 10,714,853 6,864 10,721,717
As at 1 April 2023 10,714,853 8,075 10,722,928
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 69,046 73,241
Prepayments and accrued income 22,647 3,485
91,693 76,726
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,165 1,140
Other creditors 24,723 70,975
27,888 72,115
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,895,055 7,196,466
Other loans 2,465,627 3,618,529
11,360,682 10,814,995
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans - 7,196,466
Other Creditors - 3,618,529
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4