Company registration number 13855815 (England and Wales)
123 LONDON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
123 LONDON LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
123 LONDON LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,324
10,661
Current assets
Debtors
4
243,568
235,037
Cash at bank and in hand
51,104
22,406
294,672
257,443
Creditors: amounts falling due within one year
5
(229,295)
(231,672)
Net current assets
65,377
25,771
Total assets less current liabilities
78,701
36,432
Provisions for liabilities
(3,331)
(2,026)
Net assets
75,370
34,406
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
75,270
34,306
Total equity
75,370
34,406
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
Mr C J Fairchild
Director
Company registration number 13855815 (England and Wales)
123 LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information
123 London Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o Haslers, Old Station Road, Loughton, Essex, IG10 4PL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Reducing balance method
Fixtures and fittings
25% Reducing balance method
Computers
33.33% Straight line method
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
123 LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
19
19
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2024
14,035
253
1,368
15,656
Additions
5,710
356
6,066
At 31 March 2025
14,035
5,963
1,724
21,722
Depreciation and impairment
At 1 April 2024
4,116
108
771
4,995
Depreciation charged in the year
2,480
453
470
3,403
At 31 March 2025
6,596
561
1,241
8,398
Carrying amount
At 31 March 2025
7,439
5,402
483
13,324
At 31 March 2024
9,919
145
597
10,661
123 LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
198,520
208,017
Other debtors
43,467
25,711
Prepayments and accrued income
1,581
1,309
243,568
235,037
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
151,125
145,010
Corporation tax
13,398
14,012
Other taxation and social security
57,215
60,686
Other creditors
2,739
5,554
Accruals and deferred income
4,818
6,410
229,295
231,672