Silverfin false false 30/09/2024 01/10/2023 30/09/2024 L J Libson 03/11/2017 J A Yarker 03/11/2017 06 January 2025 The principal activity of the Company during the financial year was that of dealing in art. 11046239 2024-09-30 11046239 bus:Director1 2024-09-30 11046239 bus:Director2 2024-09-30 11046239 2023-09-30 11046239 core:CurrentFinancialInstruments 2024-09-30 11046239 core:CurrentFinancialInstruments 2023-09-30 11046239 core:Non-currentFinancialInstruments 2024-09-30 11046239 core:Non-currentFinancialInstruments 2023-09-30 11046239 core:ShareCapital 2024-09-30 11046239 core:ShareCapital 2023-09-30 11046239 core:RetainedEarningsAccumulatedLosses 2024-09-30 11046239 core:RetainedEarningsAccumulatedLosses 2023-09-30 11046239 core:OfficeEquipment 2023-09-30 11046239 core:ComputerEquipment 2023-09-30 11046239 core:OfficeEquipment 2024-09-30 11046239 core:ComputerEquipment 2024-09-30 11046239 2022-09-30 11046239 bus:OrdinaryShareClass1 2024-09-30 11046239 2023-10-01 2024-09-30 11046239 bus:FilletedAccounts 2023-10-01 2024-09-30 11046239 bus:SmallEntities 2023-10-01 2024-09-30 11046239 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 11046239 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11046239 bus:Director1 2023-10-01 2024-09-30 11046239 bus:Director2 2023-10-01 2024-09-30 11046239 core:OfficeEquipment core:TopRangeValue 2023-10-01 2024-09-30 11046239 core:ComputerEquipment core:TopRangeValue 2023-10-01 2024-09-30 11046239 2022-10-01 2023-09-30 11046239 core:OfficeEquipment 2023-10-01 2024-09-30 11046239 core:ComputerEquipment 2023-10-01 2024-09-30 11046239 core:Non-currentFinancialInstruments 2023-10-01 2024-09-30 11046239 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 11046239 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11046239 (England and Wales)

LOWELL LIBSON & JONNY YARKER LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

LOWELL LIBSON & JONNY YARKER LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

LOWELL LIBSON & JONNY YARKER LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
LOWELL LIBSON & JONNY YARKER LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 15,644 25,939
15,644 25,939
Current assets
Stocks 4 1,661,114 1,825,641
Debtors 5 361,033 275,823
Cash at bank and in hand 6 18,575 111,097
2,040,722 2,212,561
Creditors: amounts falling due within one year 7 ( 642,002) ( 856,568)
Net current assets 1,398,720 1,355,993
Total assets less current liabilities 1,414,364 1,381,932
Creditors: amounts falling due after more than one year 8 ( 12,500) ( 22,500)
Net assets 1,401,864 1,359,432
Capital and reserves
Called-up share capital 10 100 100
Profit and loss account 1,401,764 1,359,332
Total shareholders' funds 1,401,864 1,359,432

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Lowell Libson & Jonny Yarker Limited (registered number: 11046239) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

L J Libson
Director

06 January 2025

LOWELL LIBSON & JONNY YARKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
LOWELL LIBSON & JONNY YARKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lowell Libson & Jonny Yarker Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 2nd Floor 16 Clifford Street, London, W1S 3RG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 3

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 October 2023 48,076 14,869 62,945
Additions 4,802 205 5,007
Disposals 0 ( 1,830) ( 1,830)
At 30 September 2024 52,878 13,244 66,122
Accumulated depreciation
At 01 October 2023 23,140 13,866 37,006
Charge for the financial year 14,739 563 15,302
Disposals 0 ( 1,830) ( 1,830)
At 30 September 2024 37,879 12,599 50,478
Net book value
At 30 September 2024 14,999 645 15,644
At 30 September 2023 24,936 1,003 25,939

4. Stocks

2024 2023
£ £
Stocks 1,661,114 1,825,641

5. Debtors

2024 2023
£ £
Trade debtors 257,205 165,805
Other debtors 103,828 110,018
361,033 275,823

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 18,575 111,097
Less: Bank overdrafts ( 1,178) ( 108)
17,397 110,989

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 11,178 10,108
Trade creditors 379,453 432,082
Taxation and social security 87,091 183,044
Other creditors 164,280 231,334
642,002 856,568

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 12,500 22,500

There are no amounts included above in respect of which any security has been given by the small entity.

9. Deferred tax

2024 2023
£ £
At the beginning of financial year 0 0
Charged to the Statement of Income and Retained Earnings ( 3,911) 0
At the end of financial year ( 3,911) 0

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

11. Related party transactions

Included in other creditors is a balance of £994 (2023: £18,433) owed to Lowell Libson Limited, a company with common directors. This balance is unsecured and interest free with no fixed repayment terms.