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Company Registration No. 10607647 (England and Wales)
Lodgeway Properties Ltd Unaudited accounts for the year ended 31 December 2022
Lodgeway Properties Ltd Company Information for the year ended 31 December 2022
Directors
D A Holliday K Holliday
Company Number
10607647 (England and Wales)
Accountants
Evans Entwistle 432 Gloucester Rd Bristol BS7 8TX
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Lodgeway Properties Ltd for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lodgeway Properties Ltd for the year ended 31 December 2022 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice 432 Gloucester Rd Bristol BS7 8TX 29 September 2023
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Lodgeway Properties Ltd Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
50,123 
56,584 
Investment property
1,556,550 
1,550,835 
1,606,673 
1,607,419 
Current assets
Cash at bank and in hand
134,900 
17,800 
Creditors: amounts falling due within one year
(23,857)
(65,623)
Net current assets/(liabilities)
111,043 
(47,823)
Total assets less current liabilities
1,717,716 
1,559,596 
Creditors: amounts falling due after more than one year
(1,616,215)
(1,517,041)
Provisions for liabilities
Deferred tax
(8,411)
(9,307)
Net assets
93,090 
33,248 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
7,144 
- 
Profit and loss account
85,944 
33,246 
Shareholders' funds
93,090 
33,248 
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by
K Holliday Director Company Registration No. 10607647
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Lodgeway Properties Ltd Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Lodgeway Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 10607647.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Not Depreciated
Plant & machinery
10 years straight line
Motor vehicles
4 years straight line
Fixtures & fittings
5 years straight line
Computer equipment
3 years straight line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Lodgeway Properties Ltd Notes to the Accounts for the year ended 31 December 2022
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2022
46,844 
9,517 
18,329 
74,690 
Additions
- 
5,499 
- 
5,499 
Disposals
- 
(2,017)
- 
(2,017)
At 31 December 2022
46,844 
12,999 
18,329 
78,172 
Depreciation
At 1 January 2022
3,137 
5,719 
9,250 
18,106 
Charge for the year
4,878 
2,791 
3,618 
11,287 
On disposals
- 
(1,344)
- 
(1,344)
At 31 December 2022
8,015 
7,166 
12,868 
28,049 
Net book value
At 31 December 2022
38,829 
5,833 
5,461 
50,123 
At 31 December 2021
43,707 
3,798 
9,079 
56,584 
5
Investment property
2022 
£ 
Fair value at 1 January 2022
1,550,835 
Additions
5,715 
At 31 December 2022
1,556,550 
The values disclosed in the accounts are based on the directors estimated market values at the balance sheet date.
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
9,727 
9,934 
Trade creditors
14 
39 
Taxes and social security
12,856 
- 
Other creditors
- 
54,650 
Accruals
1,260 
1,000 
23,857 
65,623 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
1,292,167 
1,189,150 
Other creditors
54,650 
- 
Loans from directors
269,398 
327,891 
1,616,215 
1,517,041 
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Lodgeway Properties Ltd Notes to the Accounts for the year ended 31 December 2022
8
Deferred taxation
2022 
2021 
£ 
£ 
Accelerated capital allowances
8,411 
9,307 
2022 
2021 
£ 
£ 
Provision at start of year
9,307 
58 
(Credited)/charged to the profit and loss account
(896)
9,249 
Provision at end of year
8,411 
9,307 
9
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Average number of employees
During the year the average number of employees was 2 (2021: 2).
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