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REGISTERED NUMBER: 02830947 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

STORM OF LONDON LIMITED

STORM OF LONDON LIMITED (REGISTERED NUMBER: 02830947)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

STORM OF LONDON LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: A J Lee





REGISTERED OFFICE: 49 Cardiff Road
Luton
Bedfordshire
LU1 1PP





REGISTERED NUMBER: 02830947 (England and Wales)





ACCOUNTANTS: F E Hawkes & Co Limited
'Danesbury House'
49 Cardiff Road
Luton
Bedfordshire
LU1 1PP

STORM OF LONDON LIMITED (REGISTERED NUMBER: 02830947)

ABRIDGED BALANCE SHEET
31 March 2024

2023 2024
£    Notes £   
FIXED ASSETS
20,686 Tangible assets 4 16,620

CURRENT ASSETS
378,561 Stocks 282,476
259,435 Debtors 148,704
11,948 Cash at bank and in hand 192,127
649,944 623,307
CREDITORS
(2,056,365 ) Amounts falling due within one year (2,399,101 )
(1,406,421 ) NET CURRENT LIABILITIES (1,775,794 )
(1,385,735 ) TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,759,174

)

CREDITORS
(206,129 ) Amounts falling due after more than one
year

(12,439

)
(1,591,864 ) NET LIABILITIES (1,771,613 )

CAPITAL AND RESERVES
1,000 Called up share capital 1,000
(1,592,864 ) Retained earnings (1,772,613 )
(1,591,864 ) (1,771,613 )

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

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

STORM OF LONDON LIMITED (REGISTERED NUMBER: 02830947)

ABRIDGED BALANCE SHEET - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 December 2024 and were signed by:





A Lee - Director


STORM OF LONDON LIMITED (REGISTERED NUMBER: 02830947)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Storm of London Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02830947 and the registered office is 49 Cardiff Road, Luton, Bedfordshire, LU1 1PP.

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 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.

The aftermath of COVID has been detrimental to the business with the company having to write off significant values in bad debt and steps continue to be taken to protect the future of our business. Whilst the impact following from the pandemic is still uncertain, the company will continue to have the support from the holding company SUN 99 Limited and the director considers it appropriate to prepare the accounts on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Equipment, fixtures & fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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

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.

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.

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.

STORM OF LONDON LIMITED (REGISTERED NUMBER: 02830947)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 73,979
DEPRECIATION
At 1 April 2023 53,293
Charge for year 4,066
At 31 March 2024 57,359
NET BOOK VALUE
At 31 March 2024 16,620
At 31 March 2023 20,686

5. ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of SUN 99 Limited, with the registered office and place of business at 365 Euston Road, London, NW1 3AR.

STORM OF LONDON LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
STORM OF LONDON 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 Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






F E Hawkes & Co Limited
'Danesbury House'
49 Cardiff Road
Luton
Bedfordshire
LU1 1PP


29 December 2024