Registered number
11203330
LONDON LINE HOMES LTD
Filleted Accounts
29 February 2024
LONDON LINE HOMES LTD
Registered number: 11203330
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 29,874 35,641
Current assets
Stocks 61,853 6,630
Debtors 4 73,998 64,424
Cash at bank and in hand 19,925 84,194
155,776 155,248
Creditors: amounts falling due within one year 5 (100,840) (93,447)
Net current assets 54,936 61,801
Total assets less current liabilities 84,810 97,442
Creditors: amounts falling due after more than one year 6 (12,614) (29,460)
Provisions for liabilities (5,676) (6,772)
Net assets 66,520 61,210
Capital and reserves
Called up share capital 100 100
Profit and loss account 66,420 61,110
Shareholders' funds 66,520 61,210
The directors are 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 directors acknowledge their 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.
Mariusz T. Brozyna
Director
Approved by the board on 22 November 2024
LONDON LINE HOMES LTD
Notes to the Accounts
for the year ended 29 February 2024
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to stakeholder pension plans are expensed when paid.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 8
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 46,111
Additions 4,010
At 29 February 2024 50,121
Depreciation
At 1 March 2023 10,470
Charge for the year 9,777
At 29 February 2024 20,247
Net book value
At 29 February 2024 29,874
At 28 February 2023 35,641
4 Debtors 2024 2023
£ £
Trade debtors 66,711 62,702
Other debtors, prepayments and deposits 7,287 1,722
73,998 64,424
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 8,093 9,271
Trade creditors 40,683 27,228
Taxation and social security costs 21,835 20,936
Other creditors, shareho9lder loan 20,229 26,012
100,840 93,447
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,614 22,432
Obligations under finance lease and hire purchase contracts - 7,028
12,614 29,460
7 Other information
LONDON LINE HOMES LTD is a private company limited by shares and incorporated in England. Its registered office is:
30 Cannonbury Avenue
Pinner
Middlesex
HA5 1TS
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