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REGISTERED NUMBER: 01112289 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 January 2023

for

LAMBERT OF LONDON LIMITED

LAMBERT OF LONDON LIMITED (REGISTERED NUMBER: 01112289)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAMBERT OF LONDON LIMITED

Company Information
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: F A Mullahzadah





REGISTERED OFFICE: Bath House
6-8 Bath Street
Redcliffe
Bristol
BS1 6HL





REGISTERED NUMBER: 01112289 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Bath House
6 - 8 Bath Street
Bristol
BS1 6HL

LAMBERT OF LONDON LIMITED (REGISTERED NUMBER: 01112289)

Balance Sheet
31 JANUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 394 962
Investments 5 100 100
494 1,062

CURRENT ASSETS
Stocks 6 363,899 606,498
Debtors 7 104,126 108,209
Cash at bank and in hand 58,497 10,002
526,522 724,709
CREDITORS
Amounts falling due within one year 8 (626,909 ) (895,086 )
NET CURRENT LIABILITIES (100,387 ) (170,377 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(99,893

)

(169,315

)

CREDITORS
Amounts falling due after more than one
year

9

(10,417

)

(37,321

)
NET LIABILITIES (110,310 ) (206,636 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (110,410 ) (206,736 )
SHAREHOLDERS' FUNDS (110,310 ) (206,636 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LAMBERT OF LONDON LIMITED (REGISTERED NUMBER: 01112289)

Balance Sheet - continued
31 JANUARY 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 29 October 2024 and were signed by:





F A Mullahzadah - Director


LAMBERT OF LONDON LIMITED (REGISTERED NUMBER: 01112289)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2023


1. COMPANY INFORMATION

Lambert of London 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
In order to assess whether it is appropriate for the company to be reported as a going concern, the director applied judgement, having undertaken appropriate enquiries and having considered the business activities and the companies principal risks and uncertainties. In arriving at this judgement there are a number of assumptions and estimates that are applied by the company. These include, but not limited to, depreciation on tangible assets and recoverable value of debtors and stock respectively. These estimates, assumptions and judgements are also evaluated on a continual basis.

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Lambert of London Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over the life of the lease
Plant and machinery - 25% on cost
Fixtures, fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

LAMBERT OF LONDON LIMITED (REGISTERED NUMBER: 01112289)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

LAMBERT OF LONDON LIMITED (REGISTERED NUMBER: 01112289)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Short Plant and fittings Motor
leasehold machinery & equipment vehicles Totals
£    £    £    £    £   
COST
At 1 February 2022 664 6,500 20,920 4,000 32,084
Disposals - (6,500 ) (11,492 ) (4,000 ) (21,992 )
At 31 January 2023 664 - 9,428 - 10,092
DEPRECIATION
At 1 February 2022 664 6,500 19,958 4,000 31,122
Charge for year - - 131 - 131
Eliminated on disposal - (6,500 ) (11,055 ) (4,000 ) (21,555 )
At 31 January 2023 664 - 9,034 - 9,698
NET BOOK VALUE
At 31 January 2023 - - 394 - 394
At 31 January 2022 - - 962 - 962

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2022
and 31 January 2023 100
NET BOOK VALUE
At 31 January 2023 100
At 31 January 2022 100

LAMBERT OF LONDON LIMITED (REGISTERED NUMBER: 01112289)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2023


6. STOCKS
2023 2022
£    £   
Stocks 363,899 606,498

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 50,796 8,002
Other debtors 4,925 4,925
VAT - 44,706
Prepayments and accrued income 48,405 50,576
104,126 108,209

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,000 25,000
Trade creditors 366,010 659,897
Amounts owed to group undertakings 100 100
Social security and other taxes 3,358 1,476
VAT 21,198 -
Other creditors 200,472 -
Directors' current accounts - 198,929
Accrued expenses 10,771 9,684
626,909 895,086

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 10,417 25,000
Bank loans - 2-5 years - 12,321
10,417 37,321

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 160,000 69,543

LAMBERT OF LONDON LIMITED (REGISTERED NUMBER: 01112289)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2023


11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 35,417 62,321

The bank loans are secured via a debenture over the company's assets.

12. PENSION COMMITMENTS

At the year end, pension contributions totalling £293 (2022 - £NIL) were outstanding and are included within other creditors.