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ASSOS LONDON BOUTIQUE LIMITED

Registered Number
09514609
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

ASSOS LONDON BOUTIQUE LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

DAL BOSCO, Andrea
DEAN, Paul
NAVEZ, Edwin

Registered Address

18 Regent Street
St James
London
SW1Y 4PH

Registered Number

09514609 (England and Wales)
ASSOS LONDON BOUTIQUE LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4256,378876,398
256,378876,398
Current assets
Stocks5348,619406,360
Debtors689,89988,420
Cash at bank and on hand133,167358,301
571,685853,081
Creditors amounts falling due within one year7(3,916,417)(4,062,809)
Net current assets (liabilities)(3,344,732)(3,209,728)
Total assets less current liabilities(3,088,354)(2,333,330)
Provisions for liabilities8(18,618)(129,844)
Net assets(3,106,972)(2,463,174)
Capital and reserves
Called up share capital100100
Profit and loss account(3,107,072)(2,463,274)
Shareholders' funds(3,106,972)(2,463,174)
The financial statements were approved and authorised for issue by the Board of Directors on 27 February 2025, and are signed on its behalf by:
NAVEZ, Edwin
Director
Registered Company No. 09514609
ASSOS LONDON BOUTIQUE LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
Assurances have been obtained from the directors of the company, that their support will not be withdrawn in the foreseeable future. In the director's opinion, the company can and will meet its liabilities as they fall due and be able to continue in operational existence for the foreseeable future, notwithstanding the fact that the company holds a deficit on its balance sheet.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings5
Plant and machinery25
Fixtures and fittings15
Office Equipment25
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year66
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 241,302,9382,41714,6706,4801,326,505
Additions15,137---15,137
At 31 December 241,318,0752,41714,6706,4801,341,642
Depreciation and impairment
At 01 January 24434,1362,1759,8143,982450,107
Charge for year633,70797728625635,157
At 31 December 241,067,8432,27210,5424,6071,085,264
Net book value
At 31 December 24250,2321454,1281,873256,378
At 31 December 23868,8022424,8562,498876,398
5.Stocks

2024

2023

££
Finished goods348,619406,360
Total348,619406,360
6.Debtors: amounts due within one year

2024

2023

££
Other debtors2,2671,500
Prepayments and accrued income87,63286,920
Total89,89988,420
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables17,53319,107
Amounts owed to related parties3,473,0513,708,329
Taxation and social security47,68546,221
Other creditors1,5612,273
Accrued liabilities and deferred income376,587286,879
Total3,916,4174,062,809
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)18,618129,844
Total18,618129,844