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REGISTERED NUMBER: 08088513 (England and Wales)















LFP INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022






LFP INVESTMENTS LIMITED (REGISTERED NUMBER: 08088513)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


LFP INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2022







DIRECTORS: A E Day
R Hancox
M J Tate





REGISTERED OFFICE: Wool Hall Farm
Cross Gate
Wykeham
Spalding
Lincolnshire
PE12 6HW





REGISTERED NUMBER: 08088513 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

LFP INVESTMENTS LIMITED (REGISTERED NUMBER: 08088513)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,250,000 1,250,000

CURRENT ASSETS
Debtors 5 3,251 2,893
Cash at bank 42,014 760
45,265 3,653
CREDITORS
Amounts falling due within one year 6 39,378 71,424
NET CURRENT ASSETS/(LIABILITIES) 5,887 (67,771 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,255,887 1,182,229

PROVISIONS FOR LIABILITIES 190,188 144,543
NET ASSETS 1,065,699 1,037,686

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Revaluation reserve 8 570,562 616,207
Retained earnings 494,137 420,479
SHAREHOLDERS' FUNDS 1,065,699 1,037,686

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 August 2022 and were signed on its behalf by:





R Hancox - Director


LFP INVESTMENTS LIMITED (REGISTERED NUMBER: 08088513)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022

1. STATUTORY INFORMATION

LFP Investments 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. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent received from the company's property. Revenue is recongnised in the period for which the rents received relate to.

Investment property
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Revaluation reserve
The Revaluation Reserve is the cumulative total of upwards revaluations relating to the investment property held in the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

LFP INVESTMENTS LIMITED (REGISTERED NUMBER: 08088513)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2021
and 31 January 2022 1,250,000
NET BOOK VALUE
At 31 January 2022 1,250,000
At 31 January 2021 1,250,000

Investment properties are stated at the directors' valuation on the basis of open market value at 31 January 2020

Fair value at 31 January 2022 is represented by:
£   
Valuation in 2012 489,250
Valuation in 2017 230,750
Valuation in 2020 530,000
1,250,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 3,251 2,893

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed to related parties - 33,200
Taxation and social security 23,578 22,005
Other creditors 15,800 16,219
39,378 71,424

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,000 Ordinary 1 1,000 1,000

8. RESERVES
Revaluation
reserve
£   
At 1 February 2021 616,207
Reserve transfer (45,645 )

At 31 January 2022 570,562

LFP INVESTMENTS LIMITED (REGISTERED NUMBER: 08088513)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2022

9. RELATED PARTY DISCLOSURES

During 2018, the company received a loan of £296,021 from FreshLinc Limited. FreshLinc Limited is a private limited company wholly owned by the directors of the company. The loan is repayable at a rate of £66,400 per annum. The loan interest has been charged from 2 January 2018 at a rate of 1.8% per annum above the Bank of England base rate. During the year interest of £182 (2021 - £1,797) was charged on the loan . The amount owed to FreshLinc Limited at 31 January 2022 was £33,200 (2021 - Nil).

During the year, insurance and management costs were recharged by Lincolnshire Field Products Limited totalling £9,288 (2021 - £9,487). Lincolnshire Field Products Limited is a private limited company wholly owned by the directors of the company.