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Logo On Report
Registered Number: 11492312
England and Wales

 

 

 

ALGORHYTHM LONDON LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Directors Justin Thorne
Ruslana Thorne
Registered Number 11492312
Registered Office Studio G01
the Foundry 156 Blackfriars Road
London
SE1 8EN
Accountants WallsMan Creative Limited
Unit 14, Princeton Mews
167 London Road
Kingston Upon Thames
England
KT2 6PT
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 10,758    12,508 
10,758    12,508 
Current assets      
Debtors 4 182,291    200,603 
Cash at bank and in hand 139,040    82,772 
321,331    283,375 
Creditors: amount falling due within one year 5 (205,640)   (191,894)
Net current assets 115,691    91,481 
 
Total assets less current liabilities 126,449    103,989 
Creditors: amount falling due after more than one year 6 (9,167)   (19,167)
Provisions for liabilities 7 (2,690)  
Net assets 114,592    84,822 
 

Capital and reserves
     
Called up share capital 111    111 
Profit and loss account 114,481    84,711 
Shareholders' funds 114,592    84,822 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 April 2025 and were signed on its behalf by:


-------------------------------
Ruslana Thorne
Director
2
General Information
Algorhythm London Limited is a private company, limited by shares, registered in England and Wales, registration number 11492312, registration address Studio G01, the Foundry 156 Blackfriars Road , London, SE1 8EN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 August 2023 15,615    9,751    25,366 
Additions 2,151      2,151 
Disposals    
At 31 July 2024 17,766    9,751    27,517 
Depreciation
At 01 August 2023 6,512    6,661    13,173 
Charge for year 2,813    773    3,586 
On disposals    
At 31 July 2024 9,325    7,434    16,759 
Net book values
Closing balance as at 31 July 2024 8,441    2,317    10,758 
Opening balance as at 01 August 2023 9,418    3,090    12,508 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 177,691    195,713 
Prepayments & Accrued Income   948 
Deposits paid 4,600    3,942 
182,291    200,603 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 11,621    10,812 
Bank Loans & Overdrafts (Secured) 10,000    10,000 
Corporation Tax 144,592    104,239 
PAYE & Social Security 1,609    757 
Deferred Income   29,920 
Other Creditors (1)  
Pension Control Account 209    139 
Directors' Current Accounts 13    162 
Directors Loan Account 2 474    162 
Directors Loan Account 3   151 
VAT 37,123    35,552 
205,640    191,894 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 9,167    19,167 
9,167    19,167 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 2,690   
2,690   

3