REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
LYTTON GENERAL WHOLESALERS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
LYTTON GENERAL WHOLESALERS LIMITED |
LYTTON GENERAL WHOLESALERS LIMITED (REGISTERED NUMBER: 01381455) |
Contents of the Financial Statements |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LYTTON GENERAL WHOLESALERS LIMITED |
Company Information |
for the year ended 31 July 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
LYTTON GENERAL WHOLESALERS LIMITED (REGISTERED NUMBER: 01381455) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 8 |
Revaluation reserve | 9 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
LYTTON GENERAL WHOLESALERS LIMITED (REGISTERED NUMBER: 01381455) |
Notes to the Financial Statements |
for the year ended 31 July 2024 |
1. | Statutory information |
Lytton General Wholesalers Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Tangible fixed assets |
Motor vehicles | - |
Computer equipment | - |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Investment property |
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. |
LYTTON GENERAL WHOLESALERS LIMITED (REGISTERED NUMBER: 01381455) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost |
At 1 August 2023 |
and 31 July 2024 |
Depreciation |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Motor |
vehicles |
£ |
Cost |
At 1 August 2023 |
Transfer to ownership | (34,250 | ) |
At 31 July 2024 |
Depreciation |
At 1 August 2023 |
Transfer to ownership | (23,112 | ) |
At 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 August 2023 |
and 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
The directors do not believe that the value of the remaining properties has changed materially during the year. |
LYTTON GENERAL WHOLESALERS LIMITED (REGISTERED NUMBER: 01381455) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
5. | Investment property - continued |
Fair value at 31 July 2024 is represented by: |
£ |
Valuation in 2007 | 350,000 |
Valuation in 2015 | 400,000 |
Valuation in 2017 | 37,500 |
Valuation in 2019 | 212,500 |
Valuation in 2022 | (100,000 | ) |
900,000 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other debtors |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
A | £1 | 60 | 60 |
B | £1 | 40 | 40 |
100 | 100 |
9. | Reserves |
Revaluation |
reserve |
£ |
At 1 August 2023 |
and 31 July 2024 |
LYTTON GENERAL WHOLESALERS LIMITED (REGISTERED NUMBER: 01381455) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
10. | Directors' advances, credits and guarantees |
The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |