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Registration number: 10381037

London House (Crowborough) Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

London House (Crowborough) Limited

Statement of Financial Position as at 30 September 2024

Note

2024
£

As restated
2023
£

Current assets

 

Stocks

4

255,939

311,332

Debtors

5

3,231

-

Cash at bank and in hand

 

17,544

56,582

 

276,714

367,914

Creditors: Amounts falling due within one year

6

(216,195)

(301,038)

Net assets

 

60,519

66,876

Capital and reserves

 

Called up share capital

4

4

Retained earnings

60,515

66,872

Shareholders' funds

 

60,519

66,876

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the Board on 2 June 2025 and signed on its behalf by:
 

.........................................

Z M Warren

Director

Company registration number: 10381037

 

London House (Crowborough) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Brebners
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the company is that of property development.

2

Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Going concern

The company made a loss for the year ended 30 September 2024 but had net assets of £60,519 at that date.

The company has few fixed overheads and directors believe the company has adequate working capital to complete or realise its developed property.

Having made enquiries the directors have reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of property in the ordinary course of the company's activities. Turnover is shown net of discounts.

The company recognises revenue from the sale of property on the date of contractual completion.

 

London House (Crowborough) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2023 - 0).

4

Stocks

2024
£

As restated
2023
£

Work in progress

255,939

311,332

5

Debtors

2024
£

2023
£

Trade debtors

3,231

-

3,231

-

 

London House (Crowborough) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

As restated
2023
£

Trade creditors

 

-

1,500

Taxation and social security

 

9,832

11,030

Other creditors

 

206,363

288,508

 

216,195

301,038

7

Prior period adjustment

During the year, the directors identified that other creditors as at 30 September 2023 were overstated by £54,463 as a result of certain income which had not been recognised. Work in progress was also overstated by £54,463 as a result of diminutions in value which had not been provided. This has been corrected in the current year to 30 September 2024 and comparative figures have been restated. These adjustments had no effect on the net assets at 30 September 2023 or the result for the year to that date.