IRIS Accounts Production v23.3.0.418 00302087 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure003020872022-03-31003020872023-03-31003020872022-04-012023-03-31003020872021-03-31003020872021-04-012022-03-31003020872022-03-3100302087ns16:EnglandWales2022-04-012023-03-3100302087ns15:PoundSterling2022-04-012023-03-3100302087ns11:Director12022-04-012023-03-3100302087ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3100302087ns11:SmallEntities2022-04-012023-03-3100302087ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3100302087ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3100302087ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3100302087ns11:FullAccounts2022-04-012023-03-3100302087ns11:Director22022-04-012023-03-3100302087ns11:Director32022-04-012023-03-3100302087ns11:CompanySecretary12022-04-012023-03-3100302087ns11:RegisteredOffice2022-04-012023-03-3100302087ns6:CurrentFinancialInstruments2023-03-3100302087ns6:CurrentFinancialInstruments2022-03-3100302087ns6:ShareCapital2023-03-3100302087ns6:ShareCapital2022-03-3100302087ns6:FurtherSpecificReserve1ComponentTotalEquity2023-03-3100302087ns6:FurtherSpecificReserve1ComponentTotalEquity2022-03-3100302087ns6:RetainedEarningsAccumulatedLosses2023-03-3100302087ns6:RetainedEarningsAccumulatedLosses2022-03-3100302087ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3100302087ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31
REGISTERED NUMBER: 00302087 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

LONDON LENDING LIBRARY (DURHAM) LIMITED

LONDON LENDING LIBRARY (DURHAM) LIMITED (REGISTERED NUMBER: 00302087)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LONDON LENDING LIBRARY (DURHAM) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M G P C Williams
R K Dore
J P Rudd



SECRETARY: R K Dore



REGISTERED OFFICE: Rudland House
Railway Street
Bishop Auckland
Co. Durham
DL14 7LR



REGISTERED NUMBER: 00302087 (England and Wales)



SOLICITORS: Hewitts
207 Newgate Street
Bishop Auckland
County Durham
DL14 7EL

LONDON LENDING LIBRARY (DURHAM) LIMITED (REGISTERED NUMBER: 00302087)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment property 4 385,000 296,000

CURRENT ASSETS
Debtors 5 22,214 64,906
Cash at bank 153,192 150,611
175,406 215,517
CREDITORS
Amounts falling due within one year 6 59,893 59,183
NET CURRENT ASSETS 115,513 156,334
TOTAL ASSETS LESS CURRENT
LIABILITIES

500,513

452,334

PROVISIONS FOR LIABILITIES 3,304 -
NET ASSETS 497,209 452,334

CAPITAL AND RESERVES
Called up share capital 20,400 20,400
Fair value reserve 239,274 153,578
Retained earnings 237,535 278,356
SHAREHOLDERS' FUNDS 497,209 452,334

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.

LONDON LENDING LIBRARY (DURHAM) LIMITED (REGISTERED NUMBER: 00302087)

BALANCE SHEET - 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 2 October 2023 and were signed on its behalf by:





M G P C Williams - Director


LONDON LENDING LIBRARY (DURHAM) LIMITED (REGISTERED NUMBER: 00302087)

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


1. STATUTORY INFORMATION

London Lending Library (Durham) 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.

Turnover
Turnover represents rental income from the letting of freehold investment property.

Rental income is recognised in the period to which it relates. Debtors or creditors are provided at the year end to account for the relevant proportion of rent received in arrears or in advance.

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss for the year and included in the fair value reserve on the balance sheet. Investment properties are not depreciated.

Deferred tax is provided on revaluation gains at the rate expected to apply when the property is sold. No deferred tax provision is required in respect of investment properties as at 31 March 2023.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2022 296,000
Revaluations 89,000
At 31 March 2023 385,000
NET BOOK VALUE
At 31 March 2023 385,000
At 31 March 2022 296,000

Fair value at 31 March 2023 is represented by:
£
Valuation in 2023 385,000

LONDON LENDING LIBRARY (DURHAM) LIMITED (REGISTERED NUMBER: 00302087)

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


4. INVESTMENT PROPERTY - continued

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

2023 2022
£ £
Cost 142,422 142,422

Freehold investment property were valued on an open market basis on 3 February 2023 by Carver Commercial Chartered Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 514 3,772
Amounts owed by related companies - Spoors
Limited

21,700

61,134
22,214 64,906

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Social security and other taxes 1,939 1,885
Amounts owed to related companies - GW
Rudd Limited

44,700

46,925
Accruals and deferred income 13,254 10,373
59,893 59,183

7. RELATED PARTY DISCLOSURES

A number of shareholders of this company, including the directors, also have interests in the shares of the companies referred to below.


Balances due to/from related parties at 31 March 2023

Due from related parties

Spoors Limited - £21,700 (2022 - £61,134)

Due to related parties

G W Rudd Limited - £44,700 (2022 - £46,925)

No interest is payable on the above balances and there are no set repayment terms.