IRIS Accounts Production v23.1.0.753 03205252 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 true false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure032052522022-03-31032052522023-03-31032052522022-04-012023-03-31032052522021-03-31032052522021-04-012022-03-31032052522022-03-3103205252ns16:EnglandWales2022-04-012023-03-3103205252ns15:PoundSterling2022-04-012023-03-3103205252ns11:Director12022-04-012023-03-3103205252ns11:Director22022-04-012023-03-3103205252ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3103205252ns11:SmallEntities2022-04-012023-03-3103205252ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3103205252ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3103205252ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3103205252ns11:FullAccounts2022-04-012023-03-3103205252ns11:OrdinaryShareClass12022-04-012023-03-3103205252ns11:Director32022-04-012023-03-3103205252ns11:RegisteredOffice2022-04-012023-03-3103205252ns6:CurrentFinancialInstruments2023-03-3103205252ns6:CurrentFinancialInstruments2022-03-3103205252ns6:Non-currentFinancialInstruments2023-03-3103205252ns6:Non-currentFinancialInstruments2022-03-3103205252ns6:ShareCapital2023-03-3103205252ns6:ShareCapital2022-03-3103205252ns6:RevaluationReserve2023-03-3103205252ns6:RevaluationReserve2022-03-3103205252ns6:RetainedEarningsAccumulatedLosses2023-03-3103205252ns6:RetainedEarningsAccumulatedLosses2022-03-3103205252ns6:FurnitureFittings2022-04-012023-03-3103205252ns6:FurnitureFittings2022-03-3103205252ns6:FurnitureFittings2023-03-3103205252ns6:FurnitureFittings2022-03-3103205252ns6:CostValuation2022-03-3103205252ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3103205252ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3103205252ns6:AfterOneYearns6:Non-currentFinancialInstruments2023-03-3103205252ns6:AfterOneYearns6:Non-currentFinancialInstruments2022-03-3103205252ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-03-3103205252ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-03-3103205252ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3103205252ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3103205252ns6:Secured2023-03-3103205252ns6:Secured2022-03-3103205252ns6:DeferredTaxation2022-03-3103205252ns6:DeferredTaxation2023-03-3103205252ns11:OrdinaryShareClass12023-03-3103205252ns6:RevaluationReserve2022-03-3103205252ns11:Director112022-03-3103205252ns11:Director112021-03-3103205252ns11:Director112022-04-012023-03-3103205252ns11:Director112021-04-012022-03-3103205252ns11:Director112023-03-3103205252ns11:Director112022-03-31032052522ns11:Director22022-03-31032052522ns11:Director22021-03-31032052522ns11:Director22022-04-012023-03-31032052522ns11:Director22021-04-012022-03-31032052522ns11:Director22023-03-31032052522ns11:Director22022-03-31
REGISTERED NUMBER: 03205252 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 March 2023

for

Look Property Investments Limited

Look Property Investments Limited (Registered number: 03205252)

Contents of the Financial Statements
For The Year Ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Look Property Investments Limited

Company Information
For The Year Ended 31 March 2023







DIRECTORS: Mr S Barrett
Mr M J Stables
Mrs C J Stables





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 03205252 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Look Property Investments Limited (Registered number: 03205252)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36 48
Investments 5 12,100 12,100
Investment property 6 3,811,312 3,811,312
3,823,448 3,823,460

CURRENT ASSETS
Debtors 7 94,430 93,514
Investments 8 44 44
Cash at bank 25,593 54,556
120,067 148,114
CREDITORS
Amounts falling due within one year 9 182,027 218,525
NET CURRENT LIABILITIES (61,960 ) (70,411 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,761,488

3,753,049

CREDITORS
Amounts falling due after more than one
year

10

(978,782

)

(1,001,479

)

PROVISIONS FOR LIABILITIES 13 (503,090 ) (503,090 )
NET ASSETS 2,279,616 2,248,480

CAPITAL AND RESERVES
Called up share capital 14 1,000 1,000
Revaluation reserve 15 2,190,864 2,190,864
Retained earnings 87,752 56,616
SHAREHOLDERS' FUNDS 2,279,616 2,248,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Look Property Investments Limited (Registered number: 03205252)

Statement of Financial Position - continued
31 March 2023


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 5 October 2023 and were signed on its behalf by:




Mr S Barrett - Director



Mr M J Stables - Director


Look Property Investments Limited (Registered number: 03205252)

Notes to the Financial Statements
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

Look Property 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

The directors consider that any depreciation charge on the freehold property would be immaterial due to high residual values and regular maintenance being carried out on the buildings.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Look Property Investments Limited (Registered number: 03205252)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Look Property Investments Limited (Registered number: 03205252)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 32,638
DEPRECIATION
At 1 April 2022 32,590
Charge for year 12
At 31 March 2023 32,602
NET BOOK VALUE
At 31 March 2023 36
At 31 March 2022 48

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 12,100
NET BOOK VALUE
At 31 March 2023 12,100
At 31 March 2022 12,100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 3,811,312
NET BOOK VALUE
At 31 March 2023 3,811,312
At 31 March 2022 3,811,312

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2005 418,799
Valuation in 2007 488,500
Valuation in 2014 748,321
Valuation in 2016 560,100
Valuation in 2017 22,120
Valuation in 2022 410,000
Cost 1,163,472
3,811,312

Look Property Investments Limited (Registered number: 03205252)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


6. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,163,472 1,163,472

The investment property was valued on an fair value basis on 31 March 2022 by the directors .

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 82,765 81,849

Amounts falling due after more than one year:
Other debtors 11,665 11,665

Aggregate amounts 94,430 93,514

8. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 44 44

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 11) 48,338 62,378
Trade creditors 464 467
Amounts owed to group undertakings 122,609 144,336
Taxation and social security 7,398 8,129
Other creditors 3,218 3,215
182,027 218,525

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 11) 978,782 1,001,479

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable after
more than five years 821,668 821,723
821,668 821,723

Look Property Investments Limited (Registered number: 03205252)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


11. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 48,338 62,378

Amounts falling due between one and two years:
Bank loans - 1-2 years 46,500 53,874

Amounts falling due between two and five years:
Bank loans - 2-5 years 110,614 125,882

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable after
more than five years 821,668 821,723
821,668 821,723

12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,027,120 1,063,857

The above mortgages are secured against the properties concerned.

13. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 503,090 503,090

Deferred
tax
£   
Balance at 1 April 2022 503,090
Balance at 31 March 2023 503,090

14. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

Look Property Investments Limited (Registered number: 03205252)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023


15. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 2,190,864

16. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr S Barrett
Balance outstanding at start of year 33,675 33,675
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,675 33,675

Mr M J Stables
Balance outstanding at start of year 30,939 30,723
Amounts advanced - 216
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,939 30,939