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REGISTERED NUMBER: 00368590 (England and Wales)















Ludlow & Co., Limited

Unaudited Financial Statements for the Year Ended 31st March 2024






Ludlow & Co., Limited (Registered number: 00368590)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 5


Ludlow & Co., Limited

Company Information
for the year ended 31st March 2024







DIRECTOR: S M K Goodman



REGISTERED OFFICE: 26, Charlotte Road
London
EC2A 3PF



REGISTERED NUMBER: 00368590 (England and Wales)



ACCOUNTANTS: The Decimal Place
8 Blandfield Road
London
SW12 8BG



BANKERS: NatWest

Ludlow & Co., Limited (Registered number: 00368590)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,468 1
Investment property 5 2,616,000 2,617,000
2,617,468 2,617,001

CURRENT ASSETS
Debtors 6 929,249 925,465
Cash at bank 139,536 39,883
1,068,785 965,348
CREDITORS
Amounts falling due within one
year

7

112,820

151,431
NET CURRENT ASSETS 955,965 813,917
TOTAL ASSETS LESS
CURRENT LIABILITIES

3,573,433

3,430,918

CREDITORS
Amounts falling due after more
than one year

8

(1,098,437

)

(1,006,863

)

PROVISIONS FOR LIABILITIES 9 (359,567 ) (370,856 )
NET ASSETS 2,115,429 2,053,199

Ludlow & Co., Limited (Registered number: 00368590)

Balance Sheet - continued
31st March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 5,000 5,000
Revaluation reserve 11 1,954,365 1,954,365
Other reserves 11 9,858 9,858
Retained earnings 11 146,206 175,976
SHAREHOLDERS' FUNDS 2,115,429 2,145,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th November 2024 and were signed by:





S M K Goodman - Director


Ludlow & Co., Limited (Registered number: 00368590)

Balance Sheet - continued
31st March 2024

** STATEMENT OF FINANCIAL POSITION - LAST YEAR - DOES NOT BALANCE - PLEASE CHECK THAT ALL POSTINGS HAVE BEEN MADE TO ACCOUNTS USED ON LIMITED COMPANY REPORTS

Ludlow & Co., Limited (Registered number: 00368590)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Ludlow & Co., 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Ludlow & Co., Limited (Registered number: 00368590)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st April 2023 6,730 - 6,730
Additions - 1,957 1,957
At 31st March 2024 6,730 1,957 8,687
DEPRECIATION
At 1st April 2023 6,729 - 6,729
Charge for year - 490 490
At 31st March 2024 6,729 490 7,219
NET BOOK VALUE
At 31st March 2024 1 1,467 1,468
At 31st March 2023 1 - 1

Ludlow & Co., Limited (Registered number: 00368590)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 2,620,000
DEPRECIATION
At 1st April 2023 3,000
Charge for year 1,000
At 31st March 2024 4,000
NET BOOK VALUE
At 31st March 2024 2,616,000
At 31st March 2023 2,617,000

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors - 13,000
Provision for bad debts 640 (13,000 )
Other debtors 24,950 25,090
Prepayments and accrued income 1,597 -
27,187 25,090

Amounts falling due after more than one year:
Amounts owed by group undertakings 902,062 900,375

Aggregate amounts 929,249 925,465

Ludlow & Co., Limited (Registered number: 00368590)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Trade creditors 33,879 53,899
Tax - 104
VAT 3,969 7,835
Other creditors 43,678 43,640
Directors' current accounts 27,274 41,203
Accruals and deferred income 4,020 4,750
112,820 151,431

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 1,071,000 969,591
Bounce back Loan 27,437 37,272
1,098,437 1,006,863

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 359,567 370,856

Ludlow & Co., Limited (Registered number: 00368590)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st April 2023 370,856
re: corporation tax implied by
revaluation of property
Balance at 31st March 2024 370,856

** BALANCE ABOVE AT END OF YEAR RE DEFERRED TAX ON CLIENT
SCREEN OF

-
DOES NOT AGREE TO CURRENT YEAR TOTAL OF ACCOUNTS PER TB 359,567

PLEASE CHECK CLIENT SCREEN - NOTES TO FINANCIAL STATEMENTS - BALANCE SHEET ITEMS - PROVISIONS FOR LIABILITIES - MOVEMENT IN PROVISIONS ETC

Please note: a deferred tax asset should be entered as a negative balance (i.e. include a "-" sign)


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,000 Ordinary £1 5,000 5,000

11. RESERVES
Retained Revaluation Other
earnings reserve reserves Totals
£    £    £    £   

At 1st April 2023 175,976 1,954,365 9,858 2,140,199
Deficit for the year (29,770 ) (29,770 )
At 31st March 2024 146,206 1,954,365 9,858 2,110,429

Ludlow & Co., Limited (Registered number: 00368590)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

12. ULTIMATE CONTROLLING PARTY

The controlling party is S M K Goodman.