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LONDON FASHION SERVICES LIMITED

Registered Number
05162264
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

LONDON FASHION SERVICES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Claire Dew
Leina O'Keefe

Registered Address

8 Bushnell Road
London
SW17 8QP

Registered Number

05162264 (England and Wales)
LONDON FASHION SERVICES LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3560866
560866
Current assets
Debtors449,05220,685
Cash at bank and on hand4,1376,788
53,18927,473
Creditors amounts falling due within one year5(28,820)(26,567)
Net current assets (liabilities)24,369906
Total assets less current liabilities24,9291,772
Net assets24,9291,772
Capital and reserves
Called up share capital9090
Profit and loss account24,8391,682
Shareholders' funds24,9291,772
The financial statements were approved and authorised for issue by the Board of Directors on 24 March 2025, and are signed on its behalf by:
Claire Dew
Director
Registered Company No. 05162264
LONDON FASHION SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Straight line (years)
Office Equipment3
Trade and other debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 237,610
At 31 March 247,610
Depreciation and impairment
At 01 April 236,745
Charge for year305
At 31 March 247,050
Net book value
At 31 March 24560
At 31 March 23866
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables14,50312,149
Other debtors15,4976,032
Prepayments and accrued income19,0522,504
Total49,05220,685
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables180540
Taxation and social security24,57517,919
Other creditors2,5656,608
Accrued liabilities and deferred income1,5001,500
Total28,82026,567
6.Share capital
The company has issued share capital of 90 ordinary shares of £1 each. There has been no change to the share capital in this year.