Registered number
09737799
Lancashire Properties NW Limited
Report and Accounts
31 March 2023
Lancashire Properties NW Limited
Registered number: 09737799
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 12,529 9,278
Current assets
Debtors 4 13,748 6,140
Cash at bank and in hand 57,752 26,776
71,500 32,916
Creditors: amounts falling due within one year 5 (54,920) (14,550)
Net current assets 16,580 18,366
Net assets 29,109 27,644
Capital and reserves
Called up share capital 1 1
Profit and loss account 29,108 27,643
Shareholders' funds 29,109 27,644
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Muhammad Ali Abbass
Director
Approved by the board on 13 October 2023
Lancashire Properties NW Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts . Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 18% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 10
3 Tangible fixed assets
Fixture & Fittings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 9,064 2,712 4,928 16,704
Additions 6,000 - - 6,000
At 31 March 2023 15,064 2,712 4,928 22,704
Depreciation
At 1 April 2022 4,868 1,671 887 7,426
Charge for the year 1,835 187 727 2,749
At 31 March 2023 6,703 1,858 1,614 10,175
Net book value
At 31 March 2023 8,361 854 3,314 12,529
At 31 March 2022 4,196 1,041 4,041 9,278
4 Debtors 2023 2022
£ £
Trade debtors 13,748 6,140
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 5,035 6,464
Other taxes and social security costs 5,941 7,997
Director's account 12,428 89
Client money due to client 27,064 -
Other creditors 4,452 -
54,920 14,550
6 Controlling party
Mr Muhammad Ali Abbas has a controling interest in the company by the virtue of his 100% subsequently holding of the ordinary shares of the company.
7 Other information
Lancashire Properties NW Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lancashire Properties
967 Stockport Road
Manchester
Lancashire
M19 3NP
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