04411747falsewholesaling of electrical goods, primarily computer hardware, software and peripherals2022-01-012022-12-31http://www.companieshouse.gov.uk/2021-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2021-12-31http://www.companieshouse.gov.uk/cd:Director12022-01-012022-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2022-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12022-01-012022-12-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2022-01-012022-12-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2022-01-012022-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2021-12-31http://www.companieshouse.gov.uk/2022-01-012022-12-31http://www.companieshouse.gov.uk/2021-12-31http://www.companieshouse.gov.uk/cd:FRS1022022-01-012022-12-31http://www.companieshouse.gov.uk/2022-12-31http://www.companieshouse.gov.uk/cd:FullAccounts2022-01-012022-12-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2022-01-012022-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 04411747

London British Distribution Product Services Limited

ACCOUNTS
FOR THE YEAR ENDED 31/12/2022

Prepared By:
GT Accountants Limited
Unit 7, The Court House
72 Moorland Road, Burslem
Stoke on Trent
Staffs
ST6 1DY

London British Distribution Product Services Limited

ACCOUNTS
FOR THE YEAR ENDED 31/12/2022
DIRECTORS
Michael Adams
REGISTERED OFFICE
3rd Floor
207 Regent Street
London
W1B 3HH
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 04411747
BANKERS
PPF Banka a.s.
ACCOUNTANTS
GT Accountants Limited
Unit 7, The Court House
72 Moorland Road, Burslem
Stoke on Trent
Staffs
ST6 1DY

London British Distribution Product Services Limited

ACCOUNTS
FOR THEYEARENDED31/12/2022
CONTENTS
Page
Balance Sheet3
Notes To The Accounts4

London British Distribution Product Services Limited

BALANCE SHEET AT 31/12/2022
20222021
Notes££
CURRENT ASSETS
Stock314,730174,126
Debtors45,415,7823,876,835
Cash at bank and in hand162,094136,345
5,892,6064,187,306
CREDITORS: Amounts falling due within one year51,933,5602,288,290
NET CURRENT ASSETS3,959,0461,899,016
TOTAL ASSETS LESS CURRENT LIABILITIES3,959,0461,899,016
CAPITAL AND RESERVES
Called up share capital61,0001,000
Other reserves71,845,367(187,775)
Profit and loss account2,112,6792,085,791
SHAREHOLDERS' FUNDS3,959,0461,899,016
For the year ending 31/12/2022 the company was entitled to exemption 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 14/11/2024 and signed on their behalf by
Michael Adams
Director

London British Distribution Product Services Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2022
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
2. EMPLOYEES
20222021
No.No.
Average number of employees11

London British Distribution Product Services Limited

3. STOCK 20222021
££
Stock comprises:
Stock of finished goods314,730174,126
314,730174,126
4. DEBTORS 20222021
££
Amounts falling due within one year
Trade debtors5,356,9223,817,975
Other debtors56,61056,610
Prepayments2,2502,250
5,415,7823,876,835
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20222021
££
UK corporation tax94,64880,952
Trade creditors124,592707,974
Other creditors1,655,8861,480,764
Accruals18,00018,600
Deferred income40,434-
1,933,5602,288,290
6. SHARE CAPITAL 20222021
££
Allotted, issued and fully paid:
1,000 Ordinary shares of £1 each1,0001,000
1,0001,000

London British Distribution Product Services Limited

7. OTHER RESERVES 20222021
££
Foreign currency translation reserve1,845,367(187,775)
1,845,367(187,775)
8. CONTROLLING PARTY
During the year the company was controlled by Flash X Limited, a company incorporated in the Commonwealth of Dominica, by virtue of its agency agreement with London British Distribution Product Services Limited.
9. RELATED PARTY TRANSACTIONS
During the year the company received financial support from Flash X Limited by way of deferred payment of commissions. The company has an agency agreement in place with Flash X Limited whereby 10% of the profit is retained within the company and the remained paid to Flash X Limited as a commission. Flash X Limited has the right to charge interest on this commission but has not previously exercised this right and has provided funding to this company by way of loans through undrawn commissions.
The commssions charged by Flash X Limited amounted to £648,755 (2021 - £837,577).