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REGISTERED NUMBER: 07940777 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st May 2024

for

Balmorals London Limited

Balmorals London Limited (Registered number: 07940777)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Balmorals London Limited

Company Information
for the Year Ended 31st May 2024







DIRECTOR: J Zhou





REGISTERED OFFICE: 272 Regents Park Road
London
N3 3HN





REGISTERED NUMBER: 07940777 (England and Wales)





ACCOUNTANTS: Spencer Hyde Limited
272 Regents Park Road
London
N3 3HN

Balmorals London Limited (Registered number: 07940777)

Statement of Financial Position
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 377,426 366,197

CURRENT ASSETS
Stocks 849,156 803,641
Debtors 5 522,118 501,474
Cash at bank 1,035,303 1,025,133
2,406,577 2,330,248
CREDITORS
Amounts falling due within one year 6 1,695,099 1,700,929
NET CURRENT ASSETS 711,478 629,319
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,088,904

995,516

CREDITORS
Amounts falling due after more than one
year

7

(104,164

)

(150,000

)

PROVISIONS FOR LIABILITIES (1,621 ) (2,169 )
NET ASSETS 983,119 843,347

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 983,019 843,247
SHAREHOLDERS' FUNDS 983,119 843,347

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Balmorals London Limited (Registered number: 07940777)

Statement of Financial Position - continued
31st May 2024


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 3rd January 2025 and were signed by:





J Zhou - Director


Balmorals London Limited (Registered number: 07940777)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

Balmorals 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Land and buildings - Land - not depreciated
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company uses forward foreign currency contracts to reduce exposure to foreign exchange rates. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit and loss in Other income.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Balmorals London Limited (Registered number: 07940777)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

2. ACCOUNTING POLICIES - continued

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

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 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st June 2023 357,143 74,729 431,872
Additions 14,991 - 14,991
At 31st May 2024 372,134 74,729 446,863
DEPRECIATION
At 1st June 2023 - 65,675 65,675
Charge for year 1,499 2,263 3,762
At 31st May 2024 1,499 67,938 69,437
NET BOOK VALUE
At 31st May 2024 370,635 6,791 377,426
At 31st May 2023 357,143 9,054 366,197

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 482,466 500,227
Other debtors 39,652 1,247
522,118 501,474

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 75,212
Trade creditors 306,225 243,873
Taxation and social security 131,081 114,442
Other creditors 1,207,793 1,267,402
1,695,099 1,700,929

Balmorals London Limited (Registered number: 07940777)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 104,164 150,000