Registration number: 10546201

Londoncryo Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Londoncryo Limited

Company Information

Directors

Ms Maria Ensabella Mr Francesco Antonio Iannello

Registered office

6 Ferranti Court Gillette Close Stafford ST18 0LQ

Londoncryo Limited

(Registration number: 10546201)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	353,393	423,255
Current assets
Stocks	5	7,369	3,578
Debtors	6	145,721	169,450
Cash at bank and in hand		24,722	47,365
		177,812	220,393
Creditors: Amounts falling due within one year	7	(239,629)	(279,398)
Net current liabilities		(61,817)	(59,005)
Total assets less current liabilities		291,576	364,250
Creditors: Amounts falling due after more than one year	7	(385,964)	(409,282)
Net liabilities		(94,388)	(45,032)
Capital and reserves
Called up share capital	8	1	1
Retained earnings		(94,389)	(45,033)
Shareholders' deficit		(94,388)	(45,032)

For the financial year ending 31 March 2025 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 December 2024 and signed on its behalf by:
 

Londoncryo Limited

(Registration number: 10546201)
Balance Sheet as at 31 March 2025

......................................... Ms Maria Ensabella Director

......................................... Mr Francesco Antonio Iannello Director

Londoncryo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
6 Ferranti Court
Gillette Close
Stafford
ST18 0LQ

These financial statements were authorised for issue by the Board on 30 December 2024.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Despite the company's overdrawn balance sheet as of the year-end, the business enjoys the full support of the directors. The accounts have been produced on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Londoncryo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Asset class	Depreciation method and rate
Building works	10% on straight line
Equipment	25% on straight line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Londoncryo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2024 - 23).

Londoncryo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Land and buildings £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	309,795	54,176	127,037	491,008
At 31 March 2025	309,795	54,176	127,037	491,008
Depreciation
At 1 April 2024	49,636	7,901	10,216	67,753
Charge for the year	49,759	7,900	12,203	69,862
At 31 March 2025	99,395	15,801	22,419	137,615
Carrying amount
At 31 March 2025	210,400	38,375	104,618	353,393
At 31 March 2024	260,159	46,275	116,821	423,255

Included within the net book value of land and buildings above is £210,400 (2024 - £260,160) in respect of improvements to short leasehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Other inventories	7,369	3,578

Londoncryo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		41,966	49,154
Amounts due from group undertakings	11	5,798	5,798
Prepayments		30,071	47,461
Other debtors		67,886	67,037
		145,721	169,450

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	23,857	40,652
Trade creditors		108,358	136,041
Amounts due to group undertakings	11	23,254	42,342
Social security and other taxes		75,446	58,574
Outstanding defined contribution pension costs		2,396	1,789
Accruals		6,318	-
		239,629	279,398

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	23,490	46,808
Directors loan account		362,474	362,474
		385,964	409,282

Londoncryo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	1,667	11,666
Hire purchase contracts	21,823	35,142
	23,490	46,808

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,000	10,000
Hire purchase contracts	13,857	30,652
	23,857	40,652

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £474,125 (2024 - £630,125). These commitments relate to rental payments for three properties that the company leases.
Total rental payments due within 12 months is £156,000 (2024 - £156,000).

Londoncryo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

11	Related party transactions

At the year end, included under debtors were the following balances owed from intercompanies:

- Londoncryo Holdings Limited - £5,772 (2024: £5,772),
- Londoncryo (SJW) Limited - £25 (2024: £26),

At the year end, included under creditors were the following balances due to intercompanies:

- Londoncryo (Belgravia) Limited - £11,651 (2024 £21,660)
- Londoncryo (City) Limited - £11,603 (2024 £20,682)

Included under creditors due over 1 year is an amount of £362,474 (2024: £362,474) owed to the director, F A Iannello.

The above loans are interest free, unsecured and repayable on demand.

The company is controlled by the directors of the holding company, Londoncryo Holdings Limited.