FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

LONDON ECONOMICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W Holmes Batt

A W Gray

SECRETARY:

W Holmes Batt

REGISTERED OFFICE:

Somerset House

New Wing

Strand

London

WC2R 1LA

REGISTERED NUMBER:

04083204 (England and Wales)

AUDITORS:

Zenith Advisory

Chartered Accountants and Statutory Auditors

Chancellors House

3 Brampton Lane

Hendon

London

NW4 4AB

BANKERS:

Barclays Bank plc

London Corporate Banking

PO Box 15162, 50 Pall Mall

London

SW1A 1QB

FIXED ASSETS

Tangible assets

5

32,083

23,497

Investments

6

4,614

4,614

36,697

28,111

CURRENT ASSETS

Stocks

565,323

296,145

Debtors

7

1,021,070

1,406,933

Cash at bank and in hand

1,433,398

1,449,830

3,019,791

3,152,908

CREDITORS

Amounts falling due within one year

8

495,309

820,327

NET CURRENT ASSETS

2,524,482

2,332,581

TOTAL ASSETS LESS CURRENT LIABILITIES

2,561,179

2,360,692

PROVISIONS FOR LIABILITIES

8,021

5,875

NET ASSETS

2,553,158

2,354,817

CAPITAL AND RESERVES

Called up share capital

143

143

Share premium

429,957

429,957

Capital redemption reserve

79,900

79,900

Retained earnings

2,043,158

1,844,817

2,553,158

2,354,817

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 Board of Directors and authorised for issue on 1 May 2026 and were signed on its behalf by:

A W Gray - Director

1.	STATUTORY INFORMATION

London Economics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with the provisions of FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', taking advantage of the disclosure exemptions set out in Section 1A of the Standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

12.5% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Work in progress

Work in progress represents amounts due from customers in respect of contract work.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2024 - 40 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2024

4,310

67,555

71,865

Additions

1,047

24,061

25,108

At 31 August 2025

5,357

91,616

96,973

DEPRECIATION

At 1 September 2024

1,178

47,190

48,368

Charge for year

669

15,853

16,522

At 31 August 2025

1,847

63,043

64,890

NET BOOK VALUE

At 31 August 2025

3,510

28,573

32,083

At 31 August 2024

3,132

20,365

23,497

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2024

and 31 August 2025

4,614

NET BOOK VALUE

At 31 August 2025

4,614

At 31 August 2024

4,614

London Economics Limited owns all the share capital of LE Europe Limited, a company incorporated in Ireland.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

892,724

1,299,963

Other debtors

80,608

55,243

Prepayments and accrued income

47,738

51,727

1,021,070

1,406,933

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

80,118

380,147

Amounts owed to group undertakings

36,732

36,789

Corporation tax

65,241

77,283

Social security and other taxes

122,018

95,246

VAT

100,698

141,729

Other creditors

4,041

13,920

Accrued expenses

86,461

75,213

495,309

820,327

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Tiano FCA (Senior Statutory Auditor)

for and on behalf of Zenith Advisory

10.	RELATED PARTY DISCLOSURES

During the year, consultancy fees amounting to £32,523 (2024: £131,829) were paid to a member of key management personnel.

During the year, consultancy fees amounting to £nil (2024: £3,192) were received from an entity in which a director of the company has an interest, while consultancy fees amounting to £nil (2024: £188,351) were paid to the same entity.