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Registered Number: 07737466
England and Wales

 

 

 

LONDON WHOLESALE LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks 3 22,874    46,874 
Debtors 4 62,254    62,170 
Cash at bank and in hand 12,940    8,527 
98,068    117,571 
Creditors: amount falling due within one year 5 (91,637)   (79,413)
Net current assets 6,431    38,158 
 
Total assets less current liabilities 6,431    38,158 
Creditors: amount falling due after more than one year 6 (47,977)   (82,451)
Net assets (41,546)   (44,293)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (41,547)   (44,294)
Shareholders' funds (41,546)   (44,293)
 


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

Director's 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 director acknowledges 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 director on 29 May 2025 and were signed by:


-------------------------------
Shahbaz Ali Amjad Sheikh
Director
1
General Information
LONDON WHOLESALE LTD is a private company, limited by shares, registered in England and Wales, registration number 07737466, registration address SUITE NO:1, FIRST FLOOR, 237/A, HIGH ROAD ILFORD, IG1 1NE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
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 recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys 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.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Stocks

2024
£
  2023
£
Stocks 22,874    46,874 
22,874    46,874 

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 62,254    62,170 
62,254    62,170 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   4,460 
Bank Loans & Overdrafts 56,709    34,154 
Corporation Tax 4,398    3,754 
PAYE & Social Security 3,890    3,821 
Other Creditors 17,541    12,733 
Wages & Salaries Control Account 4,034    13,216 
Accountancy Fees 5,065    5,575 
VAT   247 
Directors' Current Accounts   1,453 
91,637    79,413 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 47,977    46,242 
Other Creditors   36,209 
47,977    82,451 

2