| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| LONDON & WHARFEDALE LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| LONDON & WHARFEDALE LTD |
| LONDON & WHARFEDALE LTD (REGISTERED NUMBER: 05312402) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 November 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| LONDON & WHARFEDALE LTD |
| COMPANY INFORMATION |
| for the year ended 30 November 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Unit 2 Charnwood Edge Business Park |
| Syston Road, Leicester |
| LE7 4UZ |
| Magma Audit LLP is part |
| Of the Dains Group |
| LONDON & WHARFEDALE LTD (REGISTERED NUMBER: 05312402) |
| BALANCE SHEET |
| 30 November 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 financial statements were approved by the Board of Directors and authorised for issue on |
| LONDON & WHARFEDALE LTD (REGISTERED NUMBER: 05312402) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 November 2024 |
| 1. | STATUTORY INFORMATION |
| London & Wharfedale Ltd is a limited company, limited by shares, registered in England and Wales. Its registered office address is Unit 2 Charnwood Edge Business Park, Syston Road, Cossington, Leicester, United Kingdom, LE7 4UZ and the registered number is 05312402. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentation currency of the financial statements is the Pound Sterling (£), and figures are rounded to the nearest £1. |
| Going Concern |
| At the year end the company had net current liabilities of £55,338 (2023: £53,389) and net liabilities of £55,285 (2023: £53,336). The directors have confirmed that they will continue to support the company to enable it to pay its liabilities as they fall due for the foreseeable future. As such, the directors have prepared these financial statements on a going concern basis. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investments in subsidiaries |
| Investment in the subsidiary company is held at cost less accumulated impairment losses. |
| Financial instruments |
| (i) Financial assets |
| Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
| Such assets are subsequently carried at amortised cost using the effective interest rate method. |
| (ii) Financial liabilities |
| Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| LONDON & WHARFEDALE LTD (REGISTERED NUMBER: 05312402) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 November 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 December 2023 |
| Disposals | ( |
) |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Eliminated on disposal | ( |
) |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 December 2023 |
| and 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| LONDON & WHARFEDALE LTD (REGISTERED NUMBER: 05312402) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 November 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| Directors' current accounts | 231,000 | 229,500 |
| Accrued expenses |
| 8. | RELATED PARTY DISCLOSURES |
| As at the year end, £201,348 (2023 - £201,348) was owed by Red Kite Securities Ltd, a business in which London & Wharfedale Ltd own 50% of the issued share capital. |