Company registration number 05221812 (England and Wales)
LONDON & COUNTIES OFFICE SUPPLIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
LONDON & COUNTIES OFFICE SUPPLIES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LONDON & COUNTIES OFFICE SUPPLIES LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
796
542
Investments
4
4,000
4,000
4,796
4,542
Current assets
Stocks
479
680
Debtors
5
54,786
58,855
Cash at bank and in hand
3,112
2,435
58,377
61,970
Creditors: amounts falling due within one year
6
(39,259)
(47,819)
Net current assets
19,118
14,151
Net assets
23,914
18,693
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
23,913
18,692
Total equity
23,914
18,693

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 10 March 2025 and are signed on its behalf by:
P Milbourn
Director
Company registration number 05221812 (England and Wales)
LONDON & COUNTIES OFFICE SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

London & Counties Office Supplies Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for office supplies provided, net of VAT and trade discounts. Income is recognised in the period to which it relates.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% straight line
Computer equipment
25% straight line

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.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

LONDON & COUNTIES OFFICE SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
LONDON & COUNTIES OFFICE SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
1,380
Additions
417
At 30 June 2024
1,797
Depreciation and impairment
At 1 July 2023
838
Depreciation charged in the year
163
At 30 June 2024
1,001
Carrying amount
At 30 June 2024
796
At 30 June 2023
542
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
4,000
4,000
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
39,924
46,079
Other debtors
14,862
12,776
54,786
58,855
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
13,531
22,718
Corporation tax
2,643
2,315
Other taxation and social security
987
-
0
Other creditors
22,098
22,786
39,259
47,819
LONDON & COUNTIES OFFICE SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
6
Creditors: amounts falling due within one year
(Continued)
- 5 -

Included within creditors is a balance with Lloyds Bank Plc who have a charge over the company and its assets.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
8
Related party transactions

Included within other debtors is £14,682 (2023: £12,098) owed to the company by the directors as at the balance sheet date. Interest of £323 (2023: £156) was charged on the loan at the HMRC official rate for beneficial loans.

The maximum amount outstanding during the year was £14,682 (2023: £2,976) and the loan was repaid in full to the company within nine months of the year-end.

LONDON & COUNTIES OFFICE SUPPLIES LTD
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024
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