Registered number
00800977
L Mortimer (Bury) Limited
Filleted Abridged Accounts
31 March 2023
Aspect Accounting Ltd
47 Knowsley Street
Bury
Lancashire
BL9 0ST
L Mortimer (Bury) Limited
Registered number: 00800977
Abridged Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 550,000 550,000
Current assets
Debtors 68,090 3,000
Cash at bank and in hand 11,439 77,258
79,529 80,258
Creditors: amounts falling due within one year (9,215) (28,472)
Net current assets 70,314 51,786
Total assets less current liabilities 620,314 601,786
Provisions for liabilities (95,354) (95,354)
Net assets 524,960 506,432
Capital and reserves
Called up share capital 100 100
Profit and loss account 524,860 506,332
Shareholders' funds 524,960 506,432
The directors are 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 directors acknowledge their 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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mrs J Howarth
Director
Approved by the board on 27 July 2023
L Mortimer (Bury) Limited
Notes to the Abridged Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The abridged 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 represents amounts receivable from rental of investment property excluding VAT.
Investment property
The company owns a freehold building that is held to earn long term rental income and for capital appreciation. Investment properties are initially recognised at cost. Investment properties whose fair value can be measured reliably are measured at fair value. Changes in fair value are recognised in the profit and loss account.
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 - -
3 Investment property
Land and
buildings
£
Fair Value
At 1 April 2022 550,000
At 31 March 2023 550,000
Historical cost
At 1 April 2022 60,200
At 31 March 2023 60,200

The directors conducted a valuation of the investment property on an open market basis at the end of the financial year and are of the opinion that this value stood at £550,000. This revaluation has been incorporated within the financial statements. The directors do not hold any qualifications in property valuation but have adequate knowledge of the prevalent prices in the local area.
4 Loans to directors
Description and conditions B/fwd Loan Repaid C/fwd
£ £ £ £
Mrs J Howarth
Unsecured advance repayable upon demand.Interest rate 2% per annum. - 45,000 (17,000) 28,000
Mr D Mortimer
Unsecured advance repayable upon demand.Interest rate 2% per annum. - 45,000 (17,000) 28,000
- 90,000 (34,000) 56,000
5 Other information
L Mortimer (Bury) Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Garden Street
Ramsbottom
Bury
England
BL0 9BQ
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