REGISTERED NUMBER: 09837233 (England and Wales)

LONDON VELVET LTD

Unaudited Financial Statements

for the Year Ended 30 October 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Director:

Miss I S T Clevely

Registered office:

Unit 9, Leverton Farm Buildings

Leverton Farm Buildings

Hungerford

Berkshire

RG17 0TA

Registered number:

09837233 (England and Wales)

Accountants:

Cobley Desborough

Chartered Certified Accountants

Chartered Tax Advisers

Artisans' House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

FIXED ASSETS

Tangible assets

4

1,703

456

CURRENT ASSETS

Stocks

20,784

6,553

Debtors

5

3,413

2,487

Cash at bank

7,320

3,925

31,517

12,965

CREDITORS

Amounts falling due within one year

6

110,321

99,645

NET CURRENT LIABILITIES

(78,804

)

(86,680

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(77,101

)

(86,224

)

CREDITORS

Amounts falling due after more than one year

7

46,827

995

NET LIABILITIES

(123,928

)

(87,219

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(123,930

)

(87,221

)

(123,928

)

(87,219

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 July 2026 and were signed by:

Miss I S T Clevely - Director

1.	STATUTORY INFORMATION

London Velvet Ltd 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The company has net liabilities on the balance sheet and is reliant upon the ongoing support of the director as well as third party finance providers. The director has secured additional finance to meet the ongoing operational requirements requirements of the company for the forseeable future, and therefore believes the preparation of the financial statements on a going concern basis is appropriate.

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

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 31 October 2024

523

381

904

Additions

-

1,963

1,963

At 30 October 2025

523

2,344

2,867

Depreciation

At 31 October 2024

67

381

448

Charge for year

68

648

716

At 30 October 2025

135

1,029

1,164

Net book value

At 30 October 2025

388

1,315

1,703

At 30 October 2024

456

-

456

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

764

-

Other debtors

2,649

2,487

3,413

2,487

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

995

2,868

Trade creditors

5,730

2,205

Taxation and social security

-

2,348

Other creditors

103,596

92,224

110,321

99,645

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

995

Other creditors

46,827

-

46,827

995

£54,556 (2024: £1,406) of loan balances outstanding at the balance sheet date are secured by fixed and floating charges over the company and its assets.

£995 (2024: £2,457) of loan balances outstanding relate to a Bounce Back Loan which is unsecured and guaranteed by the U.K. government.

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

8,496

11,371

Between one and five years

9,792

1,583

18,288

12,954

9.	RELATED PARTY DISCLOSURES

Included in other creditors as at the balance sheet date are loans from directors of £94,967 (2024:£90,845 ). Such loans are interest free and without fixed repayment terms.