REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 31 May 2024 |
for |
LONDON COLORECTAL LIMITED |
REGISTERED NUMBER: |
Abridged Unaudited Financial Statements for the Year Ended 31 May 2024 |
for |
LONDON COLORECTAL LIMITED |
LONDON COLORECTAL LIMITED (REGISTERED NUMBER: 07266084) |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
LONDON COLORECTAL LIMITED |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
27 Daventry Street |
London |
NW1 6TD |
LONDON COLORECTAL LIMITED (REGISTERED NUMBER: 07266084) |
Abridged Balance Sheet |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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 COLORECTAL LIMITED (REGISTERED NUMBER: 07266084) |
Abridged Balance Sheet - continued |
31 May 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
LONDON COLORECTAL LIMITED (REGISTERED NUMBER: 07266084) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
London Colorectal Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Computer equipment | - |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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. |
LONDON COLORECTAL LIMITED (REGISTERED NUMBER: 07266084) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Fixed asset investments |
Fixed asset investments in Limited Liability Partnerships are measured at cost less permanent impairment. |
Permanent impairments are taken to the Company's profit and loss account. |
Going concern |
The directors have continued to assess the Company's trading results at the time of signing the financial statements and confirm that it has adequate resources available to meet its liabilities as they fall due, allowing the Company to continue in operational existence for a period of twelve months from the date of signing these financial statements. |
The directors therefore believe that it is appropriate for the financial statements to be prepared on the going concern basis.. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 | 9,213 |
NET BOOK VALUE |
At 31 May 2024 | 9,213 |
At 31 May 2023 | 9,213 |
LONDON COLORECTAL LIMITED (REGISTERED NUMBER: 07266084) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
5. | FIXED ASSET INVESTMENTS - continued |
Fixed asset investments are equity investments in Limited Liability Partnerships measured at cost less permanent impairment. |
Permanent impairments are taken to the Company's profit and loss account. |
The historic cost of the equity investments was £9,213 (2023: £9,213). |
6. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Other debtors |
7. | SECURED DEBTS |
The bank loan included under creditors is supported by a guarantee from the UK Government to the bank under the Bounce Back Loan Scheme (BBLS). |
The bank loan bears interest of 2.5% per annum. |
8. | RELATED PARTY DISCLOSURES |
Included in debtors is an amount owing to the company by the directors. These are interest free advances of £267,858 (2023: £254,844) made to the directors of the company, to provide funds for the purposes of a house purchase, renovations and other funds for personal use. It is the intention of the directors to repay these advances in full as soon as funds are available. The balance represents the highest amount outstanding in the year. |