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REGISTERED NUMBER: 08255609 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LONDON PREMIUM PRODUCTS LTD

LONDON PREMIUM PRODUCTS LTD (REGISTERED NUMBER: 08255609)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


LONDON PREMIUM PRODUCTS LTD (REGISTERED NUMBER: 08255609)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,320,056 1,247,838
Investments 5 101 101
1,320,157 1,247,939

CURRENT ASSETS
Inventories 139,554 136,239
Debtors 6 716,538 648,824
Cash at bank and in hand 158,561 46,962
1,014,653 832,025
CREDITORS
Amounts falling due within one year 7 1,593,227 1,771,687
NET CURRENT LIABILITIES (578,574 ) (939,662 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

741,583

308,277

CREDITORS
Amounts falling due after more than one year 8 (352,839 ) (34,500 )

PROVISIONS FOR LIABILITIES 10 (183,566 ) (80,699 )
NET ASSETS 205,178 193,078

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 205,176 193,076
205,178 193,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LONDON PREMIUM PRODUCTS LTD (REGISTERED NUMBER: 08255609)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 June 2025 and were signed by:





Mr K Kontopoulos - Director


LONDON PREMIUM PRODUCTS LTD (REGISTERED NUMBER: 08255609)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

London Premium Products Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08255609

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Group accounts
The company and its subsidiaries comprise a small group. The company has therefore taken advantage of the exemption provided under Section 383 of the Companies Act 2006 not to prepare group financial statements and accordingly these financial statements present information about the company as a single undertaking.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting's are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value, net of value added tax and discounts, of goods provided to customers and is
recognised when the risks and rewards of ownership have been transferred.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment
losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances
indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 15% on reducing balance
Leasehold additions over the terms of the lease

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investments in subsidiaries
Investment in subsidiary undertakings are recognised at cost less any impairment.

LONDON PREMIUM PRODUCTS LTD (REGISTERED NUMBER: 08255609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand and short term deposits with an original maturity date of one month.Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.


Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 23 ) .

LONDON PREMIUM PRODUCTS LTD (REGISTERED NUMBER: 08255609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. PROPERTY, PLANT AND EQUIPMENT
Short Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 January 2024 1,036,519 614,827 1,651,346
Additions 16,097 191,589 207,686
At 31 December 2024 1,052,616 806,416 1,859,032
DEPRECIATION
At 1 January 2024 111,478 292,030 403,508
Charge for year 70,909 64,559 135,468
At 31 December 2024 182,387 356,589 538,976
NET BOOK VALUE
At 31 December 2024 870,229 449,827 1,320,056
At 31 December 2023 925,041 322,797 1,247,838

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 101
NET BOOK VALUE
At 31 December 2024 101
At 31 December 2023 101

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26,421 24,187
Amounts owed by group undertakings 170,944 228,168
Other debtors 519,173 396,469
716,538 648,824

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 100,778 23,000
Trade creditors 1,069,704 1,273,745
Amounts owed to group undertakings 86,504 213,771
Taxation and social security 95,054 17,115
Other creditors 241,187 244,056
1,593,227 1,771,687

LONDON PREMIUM PRODUCTS LTD (REGISTERED NUMBER: 08255609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 352,839 34,500

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 250,000 250,000
Between one and five years 1,000,000 1,000,000
In more than five years 750,000 1,000,000
2,000,000 2,250,000

The Company has annual commitment of £250,000 under non-cancellable operating leases for the next 8 years.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 183,566 80,699

Deferred
tax
£   
Balance at 1 January 2024 80,699
Charge to Income Statement during year 102,867
Balance at 31 December 2024 183,566

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included within other debtors are amounts of £321,485 (2023: £96,734) due from companies under common control. These amounts are interest free and recoverable on demand.

Included within other creditors less than one year are amounts of £Nil (2023: £1,437) due to companies under common control and Also, included within other creditors less than one year are amounts of £144,667 (2023: £169,100) due to the director of the company. These amounts are interest free and repayable on demand.