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Company Registration No. 03117154 (England and Wales)
Liconi Limited Unaudited accounts for the year ended 31 October 2022
Liconi Limited Unaudited accounts Contents
Page
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Liconi Limited Company Information for the year ended 31 October 2022
Directors
Mr John Wray Mr Derrick Williams
Secretary
Mr Patrick Williams
Company Number
03117154 (England and Wales)
Registered Office
68 Bruce Grove Tottenham London N17 6UZ United Kingdom
Accountants
DF Powell & Co, Chartered Certified Accountants 35 Beaufort Court, Admirals Way South Quay Waterside Canary Wharf London E14 9XL
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Liconi Limited Statement of financial position as at 31 October 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,648,580 
7,648,580 
Current assets
Debtors
465,873 
451,770 
Cash at bank and in hand
308,867 
37,729 
774,740 
489,499 
Creditors: amounts falling due within one year
(125,872)
(165,537)
Net current assets
648,868 
323,962 
Total assets less current liabilities
8,297,448 
7,972,542 
Creditors: amounts falling due after more than one year
(4,205,308)
(3,786,676)
Provisions for liabilities
Deferred tax
(787,209)
(787,209)
Net assets
3,304,931 
3,398,657 
Capital and reserves
Called up share capital
150,000 
150,000 
Capital contribution reserve
3,149,076 
3,176,176 
Profit and loss account
5,855 
72,481 
Shareholders' funds
3,304,931 
3,398,657 
For the year ending 31 October 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 2 October 2023 and were signed on its behalf by
Mr Derrick Williams Director Company Registration No. 03117154
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Liconi Limited Notes to the Accounts for the year ended 31 October 2022
1
Statutory information
Liconi Limited is a private company, limited by shares, registered in England and Wales, registration number 03117154. The registered office is 68 Bruce Grove, Tottenham, London, N17 6UZ, United Kingdom.
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 represents total rent receivable from property lettings and ground rent received during the year.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line over 50 years
Fixtures & fittings
25% Reducing balance method
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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Liconi Limited Notes to the Accounts for the year ended 31 October 2022
Investment Property
The company carries its investment properties at fair value at each reporting date, with changes in fair value being recognised in profit or loss. The valuation of the company's property portfolio is inherently subjective due to, among other factors, the individual nature of each property, its location and expected future rental revenues from that particular property. As a result, the valuations the company places on its property portfolio are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of volatility or low transaction flow in the property market.
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2021
7,648,579 
8,539 
7,657,118 
At 31 October 2022
7,648,579 
8,539 
7,657,118 
Depreciation
At 1 November 2021
- 
8,538 
8,538 
At 31 October 2022
- 
8,538 
8,538 
Net book value
At 31 October 2022
7,648,579 
1 
7,648,580 
At 31 October 2021
7,648,579 
1 
7,648,580 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
111,024 
123,840 
Other debtors
339,849 
327,930 
450,873 
451,770 
Amounts falling due after more than one year
Accrued income and prepayments
15,000 
- 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade creditors
18,345 
13,355 
Taxes and social security
79,464 
79,464 
Other creditors
10,318 
70,318 
Loans from directors
15,045 
- 
Accruals
2,700 
2,400 
125,872 
165,537 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
4,205,308 
3,786,676 
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Liconi Limited Notes to the Accounts for the year ended 31 October 2022
8
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
150,000 Ordinary shares of £1 each
150,000 
150,000 
9
Average number of employees
During the year the average number of employees was 0 (2021: 0).
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