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REGISTERED NUMBER: 05450135 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

LONDON CONVENIENCE STORES LIMITED
LONDON CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 05450135)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LONDON CONVENIENCE STORES LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTORS: U S Trivedi
N Selvakumar





REGISTERED OFFICE: Budgens
4-6 Fauconberg Road
London
W4 3JY





REGISTERED NUMBER: 05450135 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY
Page 1
LONDON CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 05450135)

STATEMENT OF FINANCIAL POSITION
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 13,538 26,407
Tangible assets 5 23,069 40,043
36,607 66,450

CURRENT ASSETS
Stocks 100,685 126,956
Debtors 6 87,980 105,355
Cash at bank and in hand 1,377,142 1,273,188
1,565,807 1,505,499
CREDITORS
Amounts falling due within one year 7 547,219 558,104
NET CURRENT ASSETS 1,018,588 947,395
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,055,195
1,013,845

PROVISIONS FOR LIABILITIES 4,332 8,757
NET ASSETS 1,050,863 1,005,088

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 1,000,863 955,088
SHAREHOLDERS' FUNDS 1,050,863 1,005,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

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 notes form part of these financial statements

Page 2 continued...
LONDON CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 05450135)

STATEMENT OF FINANCIAL POSITION - continued
30 September 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:




N Selvakumar - Director



U S Trivedi - Director


The notes form part of these financial statements

Page 3
LONDON CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 05450135)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

London Convenience Stores Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sale of goods, excluding value added tax .Sales are recognised when the goods are taken from the store by the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of between 4 to 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & Fittings - Straight line over 7 years
Improvements to property - Straight line over 11 years where applicable - fully depreciated
Computer Equipment - Reducing balance at 33%
Short Leasehold - Straight line over the term of the lease

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other
accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

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 statement of financial position date.


Page 4 continued...
LONDON CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 05450135)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

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.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any material unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 323,486
AMORTISATION
At 1 October 2023 297,079
Charge for year 12,869
At 30 September 2024 309,948
NET BOOK VALUE
At 30 September 2024 13,538
At 30 September 2023 26,407

Page 5 continued...
LONDON CONVENIENCE STORES LIMITED (REGISTERED NUMBER: 05450135)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 32,573 413,038 445,611
DEPRECIATION
At 1 October 2023 31,541 374,027 405,568
Charge for year 383 16,591 16,974
At 30 September 2024 31,924 390,618 422,542
NET BOOK VALUE
At 30 September 2024 649 22,420 23,069
At 30 September 2023 1,032 39,011 40,043

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 87,980 105,355

Included in other debtors are prepayments of £52,761 (2023: £50,927).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 136,266 188,674
Taxation and social security 60,214 45,133
Other creditors 350,739 324,297
547,219 558,104

Included in other creditors are accruals of £31,659 (2023: £25,937).

8. OTHER FINANCIAL COMMITMENTS

The company is committed to paying total rents of £126,750 (over 2 years) and £374,625 (over 4 years).

9. RELATED PARTY DISCLOSURES

Included in other creditors is the amount of £129,985 (2023: £130,495) owed to U.S. Trivedi and £153,371 (2023: £153,371) owed to N. Selvakumar, both are directors of the company.

Page 6