General Information
LONDON WHOLESALE LTD is a private company, limited by shares, registered in England and Wales, registration number 07737466, registration address Suit No:1, First Floor, 237/A, High Road, Ilford, London, IG1 1NE.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Average number of employees
Average number of employees during the year was 2 (2024 : 1).
|
| 3. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
0 |
|
22,874 |
|
0 |
|
22,874 |
|
| 4. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
73,948 |
|
62,254 |
| VAT |
83 |
|
0 |
|
74,031 |
|
62,254 |
|
| 4. |
Debtors: amounts falling due after one year
|
2025
£ |
|
2024
£ |
| Directors' Loan Accounts |
3,541 |
|
0 |
|
3,541 |
|
0 |
|
| 5. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
33,664 |
|
0 |
| Bank Loans & Overdrafts |
31,716 |
|
56,709 |
| Corporation Tax |
4,954 |
|
4,398 |
| PAYE & Social Security |
4,495 |
|
3,890 |
| Other Creditors |
0 |
|
17,541 |
| Wages & Salaries Control Account |
0 |
|
4,034 |
| Accountancy Fees |
6,517 |
|
5,065 |
|
81,346 |
|
91,637 |
|
| 6. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
46,736 |
|
47,977 |
|
46,736 |
|
47,977 |
|
2
|