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REGISTERED NUMBER: 05235217 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

LPP Developments Limited

LPP Developments Limited (Registered number: 05235217)






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


LPP Developments Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: N de Lotbiniere





SECRETARY: Mrs C McGovern





REGISTERED OFFICE: 4th Floor
167 Fleet Street
London
EC4A 2EA





REGISTERED NUMBER: 05235217 (England and Wales)





ACCOUNTANTS: Elliotts Shah
Chartered Accountants
4th Floor
167 Fleet Street
London
EC4A 2EA

LPP Developments Limited (Registered number: 05235217)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,556,000 1,176,000

CURRENT ASSETS
Stocks 5 31,968 411,545
Debtors 6 13,992 16,469
Cash at bank 25,434 16,063
71,394 444,077
CREDITORS
Amounts falling due within one year 7 744,482 745,969
NET CURRENT LIABILITIES (673,088 ) (301,892 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

882,912

874,108

CREDITORS
Amounts falling due after more than one
year

8

(212,660

)

(226,334

)

PROVISIONS FOR LIABILITIES 10 (4,100 ) (4,100 )
NET ASSETS 666,152 643,674

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 11 665,152 642,674
SHAREHOLDERS' FUNDS 666,152 643,674

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 director acknowledges his 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.

LPP Developments Limited (Registered number: 05235217)

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 director and authorised for issue on 1 November 2023 and were signed by:





N de Lotbiniere - Director


LPP Developments Limited (Registered number: 05235217)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

LPP Developments 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.

Going concern
After considering the company's prospects and subject to continuing support from the director, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover represents rents receivable and fees receivable for services rendered, both relating to the year, and the value of a property appropriated from stock to investment properties at the balance sheet date, all net of VAT.

Investment property
Investment property is included at fair value as determined by the director. Revaluation surpluses or deficits are recognised in the income statement. Deferred tax is provided on those gains at the rate expected to apply when the property is sold.

Stocks
Stock is valued at the lower of cost and net realisable value.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 1 (2022 - 1 ) .

LPP Developments Limited (Registered number: 05235217)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,176,000
Appropriation from stock 380,000
At 31 March 2023 1,556,000
NET BOOK VALUE
At 31 March 2023 1,556,000
At 31 March 2022 1,176,000

The investment properties were revalued by the director on a fair value basis as at the year end. The historical cost of the properties is £1,366,682 (2022: £986,682).

5. STOCKS
2023 2022
£    £   
Development properties and
development costs 31,968 411,545

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,808 7,601
Prepayments and accrued income 8,184 8,868
13,992 16,469

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 15,000 16,000
Corporation tax 5,273 3,727
VAT 1,250 -
Other creditors 4,809 6,602
Directors' current accounts 712,010 714,010
Accruals and deferred income 6,140 5,630
744,482 745,969

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 16,000 17,000
Bank loans - 2-5 years 54,000 54,000
Bank loan repayments due
after more than 5 years 142,660 155,334
212,660 226,334

LPP Developments Limited (Registered number: 05235217)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loan repayments due
after more than 5 years 142,660 155,334
142,660 155,334

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 227,660 242,334

The bank loans are secured against the company's investment properties. Interest is charged at between 3% and 3.75% over the lender's benchmark interest rate.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,100 4,100

Deferred
tax
£   
Balance at 1 April 2022 4,100
Balance at 31 March 2023 4,100

11. RESERVES
Retained
earnings
£   

At 1 April 2022 642,674
Profit for the year 22,478
At 31 March 2023 665,152

12. RELATED PARTY DISCLOSURES

The director's current account balance of £712,010 (2022: £714,010) is due entirely to the sole director, N de Lotbiniere.

13. ULTIMATE CONTROLLING PARTY

The company is under the control of the director, N de Lotbiniere, by virtue of his beneficial interest in the issued share capital.