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REGISTERED NUMBER: 12431439 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

L&D PROPERTY LIMITED

L&D PROPERTY LIMITED (REGISTERED NUMBER: 12431439)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


L&D PROPERTY LIMITED (REGISTERED NUMBER: 12431439)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 333 -
Investment property 5 605,675 605,675
606,008 605,675

CURRENT ASSETS
Debtors 6 - 832
Cash at bank 2,847 2,431
2,847 3,263
CREDITORS
Amounts falling due within one year 7 (245,663 ) (250,637 )
NET CURRENT LIABILITIES (242,816 ) (247,374 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

363,192

358,301

CREDITORS
Amounts falling due after more than one
year

8

(319,598

)

(319,598

)

PROVISIONS FOR LIABILITIES (8,081 ) (8,081 )
NET ASSETS 35,513 30,622

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 34,450 34,450
Retained earnings 963 (3,928 )
35,513 30,622

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

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

L&D PROPERTY LIMITED (REGISTERED NUMBER: 12431439)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 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 19 October 2023 and were signed on its behalf by:





L O McGrath - Director


L&D PROPERTY LIMITED (REGISTERED NUMBER: 12431439)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

L&D Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12431439

Registered office: C/O D P C
Stone House
55 Stone Road Business Park
Stoke-on-Trent
Staffordshire
ST4 6SR

The principal activity of the company is that of an investment property company.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investment properties
The open market value of the investment properties has been determined by the directors, based on their experience of the market.

Revenue recognition
Turnover represents rental income which is recognised in the relevant rental period.

L&D PROPERTY LIMITED (REGISTERED NUMBER: 12431439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computer equipment- 33% straight line

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.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

L&D PROPERTY LIMITED (REGISTERED NUMBER: 12431439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.

3. EMPLOYEES AND DIRECTORS

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

L&D PROPERTY LIMITED (REGISTERED NUMBER: 12431439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 499
At 31 January 2023 499
DEPRECIATION
Charge for year 166
At 31 January 2023 166
NET BOOK VALUE
At 31 January 2023 333

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 605,675
NET BOOK VALUE
At 31 January 2023 605,675
At 31 January 2022 605,675

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2022 42,530
Cost 563,145
605,675

The directors consider the investment properties to be stated at fair value as at 31 January 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Deferred tax asset - 832

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Tax 261 -
Directors' loan accounts 243,901 249,317
Accruals and deferred income 1,501 1,320
245,663 250,637

L&D PROPERTY LIMITED (REGISTERED NUMBER: 12431439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Other loans more than 5 years
non installments 319,598 319,598
319,598 319,598

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more than 5 years
non installments 319,598 319,598
319,598 319,598

The bank loans are secured by fixed charges over the investment properties.

9. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of the approval of the financial statements by the Board.