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REGISTERED NUMBER: 08758143 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

LONDON FINE LIMITED

LONDON FINE LIMITED (REGISTERED NUMBER: 08758143)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


LONDON FINE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: I M Rosher





REGISTERED OFFICE: Drake House
80 Guildford Street
Chertsey
Surrey
KT16 9AD





REGISTERED NUMBER: 08758143 (England and Wales)





ACCOUNTANTS: Drake & Co
Chartered Accountants
Drake House
80 Guildford Street
Chertsey
Surrey
KT16 9AD

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LONDON FINE LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of London Fine Limited for the year ended 30 April 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of London Fine Limited in accordance with the terms of our engagement letter dated 24 April 2019. Our work has been undertaken solely to prepare for your approval the financial statements of London Fine Limited and state those matters that we have agreed to state to the director of London Fine Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than London Fine Limited and its director for our work or for this report.

It is your duty to ensure that London Fine Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of London Fine Limited. You consider that London Fine Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of London Fine Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Drake & Co
Chartered Accountants
Drake House
80 Guildford Street
Chertsey
Surrey
KT16 9AD


25 January 2025

LONDON FINE LIMITED (REGISTERED NUMBER: 08758143)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,892 8,040
Tangible assets 5 39,712 122,354
46,604 130,394

CURRENT ASSETS
Stocks 185,390 156,964
Debtors 6 37,980 31,699
Cash at bank and in hand 50,219 27,901
273,589 216,564
CREDITORS
Amounts falling due within one year 7 313,489 262,988
NET CURRENT LIABILITIES (39,900 ) (46,424 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,704

83,970

PROVISIONS FOR LIABILITIES 8 6,056 9,303
NET ASSETS 648 74,667

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 548 74,567
SHAREHOLDERS' FUNDS 648 74,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

LONDON FINE LIMITED (REGISTERED NUMBER: 08758143)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 21 January 2025 and were signed by:





I M Rosher - Director


LONDON FINE LIMITED (REGISTERED NUMBER: 08758143)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

London Fine 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 the provisions of Section 1A "Small Entities" of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Property Improvements - 10% on cost
Plant and machinery - at variable rates on reducing balance
Fixtures and fittings - at variable rates on reducing balance
Motor vehicles - 33% on cost
Computer equipment - 25% on reducing balance

Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be operated in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date.

Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are recognised in the Income Statement.

LONDON FINE LIMITED (REGISTERED NUMBER: 08758143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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 mainly enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to or from related parties.

Debt instruments (other than those wholly repayable or receivable on demand or within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


LONDON FINE LIMITED (REGISTERED NUMBER: 08758143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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 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.

The transition to FRS102 (1A) from FRS105 in the previous year had resulted in a prior year adjustment to restate prior periods using this new policy. Previously deferred tax was not recognised.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 10 (2023 - 13 ) .

LONDON FINE LIMITED (REGISTERED NUMBER: 08758143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023 11,545
Disposals (60 )
At 30 April 2024 11,485
AMORTISATION
At 1 May 2023 3,505
Charge for year 1,148
Eliminated on disposal (60 )
At 30 April 2024 4,593
NET BOOK VALUE
At 30 April 2024 6,892
At 30 April 2023 8,040

5. TANGIBLE FIXED ASSETS
Fixtures
Property Plant and and
Improvements machinery fittings
£    £    £   
COST
At 1 May 2023 115,273 35,944 19,656
Additions - 1,137 2,023
Disposals (100,401 ) (20,369 ) (7,473 )
At 30 April 2024 14,872 16,712 14,206
DEPRECIATION
At 1 May 2023 43,651 12,631 7,731
Charge for year 1,983 3,192 1,832
Eliminated on disposal (38,034 ) (10,125 ) (4,981 )
At 30 April 2024 7,600 5,698 4,582
NET BOOK VALUE
At 30 April 2024 7,272 11,014 9,624
At 30 April 2023 71,622 23,313 11,925

LONDON FINE LIMITED (REGISTERED NUMBER: 08758143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 4,000 22,023 196,896
Additions - 5,124 8,284
Disposals - (9,775 ) (138,018 )
At 30 April 2024 4,000 17,372 67,162
DEPRECIATION
At 1 May 2023 3,222 7,307 74,542
Charge for year - 3,652 10,659
Eliminated on disposal - (4,611 ) (57,751 )
At 30 April 2024 3,222 6,348 27,450
NET BOOK VALUE
At 30 April 2024 778 11,024 39,712
At 30 April 2023 778 14,716 122,354

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,995 20,901
Other debtors 15,985 10,798
37,980 31,699

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 81,012 64,063
Taxation and social security 10,895 15,784
Other creditors 221,582 183,141
313,489 262,988

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,056 9,303

LONDON FINE LIMITED (REGISTERED NUMBER: 08758143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 9,303
Accelerated capital allowances (3,304 )
Other timing differences 57
Balance at 30 April 2024 6,056

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 May 2023 74,567
Deficit for the year (74,019 )
At 30 April 2024 548

11. PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered Fund. The pension charge represents contributions payable by the company to the Fund and amounted to £4,748 (2023: £2,456) for all "opted in " employees of the company. Outstanding contributions collected or due and not remitted at 30 April 2024 amounted to nil (2023: £600). There were no prepaid contributions at the year end.

12. CONTINGENT LIABILITIES

There are no contingent liabilities.

13. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - -

LONDON FINE LIMITED (REGISTERED NUMBER: 08758143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

14. OTHER FINANCIAL COMMITMENTS

At the Statement of Financial Position date the company had no operating lease commitments (2023: £1,200).

15. ULTIMATE CONTROLLING PARTY

The controlling party is I M Rosher.