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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2020 |
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4M LONDON LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2020 |
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FOR |
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4M LONDON LIMITED |
4M LONDON LIMITED (REGISTERED NUMBER: 10656617) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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4M LONDON LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 December 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
4M LONDON LIMITED (REGISTERED NUMBER: 10656617) |
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BALANCE SHEET |
31 December 2020 |
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31.12.20 | 31.12.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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4M LONDON LIMITED (REGISTERED NUMBER: 10656617) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2020 |
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1. | STATUTORY INFORMATION |
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4M London Limited is a
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The trading address of the company is 301 Design Centre East, Chelsea Harbour Design Centre, Lots Road, London SW10 0X. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts have been prepared on the going concern basis notwithstanding the company made a loss for the period of £310,082 and has net current liabilities of £1,083,586. |
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The Company's parent company has indicated that it will continue to support the company for a period in excess of 12 months from the date of signing the accounts. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Revenue from sale of goods is recognised at the point in time when the risks and rewards of ownership are transferred to the customer, generally at agreed place of delivery. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Government grants |
Grants from the government relating to expenditure are recognised under the accrual model. Government grants are recognised in other income at their fair value in the period in which the entity recognises the related costs for which the grant is intended to compensate. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Stocks are valued using the FIFO method of valuation. |
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Financial instruments |
Basic financial instruments as covered by Section 11 of FRS 102 (Section 1A) are measured at amortised cost. The company does not have any other financial instrument as covered by Section 12 of FRS 102 (Section 1A). |
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4M LONDON LIMITED (REGISTERED NUMBER: 10656617) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2020 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2020 |
and 31 December 2020 |
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DEPRECIATION |
At 1 January 2020 |
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Charge for year |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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4M LONDON LIMITED (REGISTERED NUMBER: 10656617) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2020 |
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5. | DEBTORS |
31.12.20 | 31.12.19 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Amounts falling due after more than one year: |
Other debtors & prepayments |
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Aggregate amounts |
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The company has unutilised tax losses, which would result in a potential deferred tax asset of £198,350 (2019: £135,185). This asset has not been recognised due to uncertainty as to its recoverability in the foreseeable future. |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors & accruals |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.20 | 31.12.19 |
£ | £ |
Within one year |
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Between one and five years |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.20 | 31.12.19 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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4M LONDON LIMITED (REGISTERED NUMBER: 10656617) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2020 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 - continued |
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We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:- |
" Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed." |
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10. | ULTIMATE PARENT COMPANY |
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The immediate parent company is Arteriors Holdings LLC, a company incorporated in the United States. The ultimate parent company is Norwest Equity Partners LP, a company incorporated in the United States. Arteriors Holdings LLC is the smallest group in which consolidated accounts are prepared, which are not available to the public. |