Registration number: 13783781

London Local Properties Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

London Local Properties Limited

Company Information

Director

Mr P N Neilson

Registered office

102 Fulham Palace Road London W6 9PL

Accountants

Michaelides Warner & Co 102 Fulham Palace Road London W6 9PL

London Local Properties Limited

(Registration number: 13783781)
Balance Sheet as at 31 May 2023

	Note	2023 £
Fixed assets
Investment property	4	1,697,186
Current assets
Debtors	5	1
Creditors: Amounts falling due within one year	6	(1,703,953)
Net current liabilities		(1,703,952)
Net liabilities		(6,766)
Capital and reserves
Called up share capital	7	1
Retained earnings		(6,767)
Shareholders' deficit		(6,766)

For the financial period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 October 2023
 

......................................... Mr P N Neilson Director

London Local Properties Limited

Notes to the Unaudited Financial Statements for the Period from 6 December 2021 to 31 May 2023

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
102 Fulham Palace Road
London
W6 9PL
England

These financial statements were authorised for issue by the director on 4 October 2023.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The director considers that there are no key judgements that management have made in the process of applying the company's accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

London Local Properties Limited

Notes to the Unaudited Financial Statements for the Period from 6 December 2021 to 31 May 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

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 cash consolidation expected to be paid or received.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4	Investment properties

	2023 £
Additions	1,697,186
At 31 May	1,697,186

There has been no valuation of investment property by an independent valuer.

London Local Properties Limited

Notes to the Unaudited Financial Statements for the Period from 6 December 2021 to 31 May 2023

5

Debtors

Current	2023 £
Other debtors	1

6

Creditors

Creditors: amounts falling due within one year

	2023 £
Due within one year
Trade creditors	342
Accruals and deferred income	3,570
Other creditors	1,700,041
	1,703,953