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Company Registration No. 13610963 (England and Wales)
LC Commercials Ltd Unaudited accounts for the year ended 31 August 2023
LC Commercials Ltd Unaudited accounts Contents
Page
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LC Commercials Ltd Company Information for the year ended 31 August 2023
Directors
Mrs Clare Potter Mr Lee Potter
Company Number
13610963 (England and Wales)
Registered Office
Unit B Minerva Business Park Brunel Road Newton Abbot TQ12 4PJ
Accountants
Mrs Catherine Flannery, FMAAT, FCCA, BSc (Hons) South Devon Accounting Ltd 6 Orchard Close Ogwell Newton Abbot TQ12 6AL
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LC Commercials Ltd Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
200,500 
190,500 
Current assets
Cash at bank and in hand
4,709 
8,001 
Creditors: amounts falling due within one year
(196,846)
(201,664)
Net current liabilities
(192,137)
(193,663)
Total assets less current liabilities
8,363 
(3,163)
Provisions for liabilities
Deferred tax
(1,900)
- 
Net assets/(liabilities)
6,463 
(3,163)
Capital and reserves
Called up share capital
20 
20 
Profit and loss account
6,443 
(3,183)
Shareholders' funds
6,463 
(3,163)
For the year ending 31 August 2023 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 6 October 2023 and were signed on its behalf by
Mrs Clare Potter Director Company Registration No. 13610963
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LC Commercials Ltd Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
LC Commercials Ltd is a private company, limited by shares, registered in England and Wales, registration number 13610963. The registered office is Unit B Minerva Business Park, Brunel Road, Newton Abbot, TQ12 4PJ.
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.
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.
4
Investment property
2023 
£ 
Fair value at 1 September 2022
190,500 
Net gain from fair value adjustments
10,000 
At 31 August 2023
200,500 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
- 
1,600 
Loans from directors
196,366 
199,584 
Accruals
480 
480 
196,846 
201,664 
6
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
1,900 
- 
2023 
2022 
£ 
£ 
Charged to the profit and loss account
1,900 
- 
Provision at end of year
1,900 
- 
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LC Commercials Ltd Notes to the Accounts for the year ended 31 August 2023
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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