Little and Large Properties ( Leeds ) Limited 06818141 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Property rental Digita Accounts Production Advanced 6.30.9574.0 true 06818141 2022-03-01 2023-02-28 06818141 2023-02-28 06818141 bus:Director1 1 2023-02-28 06818141 bus:Director2 1 2023-02-28 06818141 bus:OrdinaryShareClass1 2023-02-28 06818141 core:OtherReservesSubtotal 2023-02-28 06818141 core:RetainedEarningsAccumulatedLosses 2023-02-28 06818141 core:ShareCapital 2023-02-28 06818141 core:CurrentFinancialInstruments 2023-02-28 06818141 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 06818141 core:Non-currentFinancialInstruments 2023-02-28 06818141 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 06818141 core:OtherPropertyPlantEquipment 2023-02-28 06818141 bus:SmallEntities 2022-03-01 2023-02-28 06818141 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 06818141 bus:FullAccounts 2022-03-01 2023-02-28 06818141 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 06818141 bus:RegisteredOffice 2022-03-01 2023-02-28 06818141 bus:Director1 2022-03-01 2023-02-28 06818141 bus:Director1 1 2022-03-01 2023-02-28 06818141 bus:Director2 2022-03-01 2023-02-28 06818141 bus:Director2 1 2022-03-01 2023-02-28 06818141 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 06818141 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 06818141 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 06818141 core:PlantMachinery 2022-03-01 2023-02-28 06818141 countries:England 2022-03-01 2023-02-28 06818141 2022-02-28 06818141 bus:Director1 1 2022-02-28 06818141 bus:Director2 1 2022-02-28 06818141 core:OtherPropertyPlantEquipment 2022-02-28 06818141 2021-03-01 2022-02-28 06818141 2022-02-28 06818141 bus:OrdinaryShareClass1 2022-02-28 06818141 core:OtherReservesSubtotal 2022-02-28 06818141 core:RetainedEarningsAccumulatedLosses 2022-02-28 06818141 core:ShareCapital 2022-02-28 06818141 core:CurrentFinancialInstruments 2022-02-28 06818141 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 06818141 core:Non-currentFinancialInstruments 2022-02-28 06818141 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 06818141 core:OtherPropertyPlantEquipment 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06818141

Little and Large Properties ( Leeds ) Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Little and Large Properties ( Leeds ) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Little and Large Properties ( Leeds ) Limited

Company Information

Directors

Mr David Shakeshaft

Mr Mark Rhodes

Registered office

11 Armley Grange Walk
Leeds
West Yorkshire
LS12 3QW

Accountants

Fullertons Limited
Chartered Certified Accountants
Manchester House
50 Oxford Road
Guiseley
Leeds
LS20 8AB

 

Little and Large Properties ( Leeds ) Limited

(Registration number: 06818141)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

27

34

Investment property

5

720,828

720,828

 

720,855

720,862

Current assets

 

Debtors

6

11,300

300

Cash at bank and in hand

 

3,384

3,033

 

14,684

3,333

Creditors: Amounts falling due within one year

7

(264,688)

(278,401)

Net current liabilities

 

(250,004)

(275,068)

Total assets less current liabilities

 

470,851

445,794

Creditors: Amounts falling due after more than one year

7

(167,037)

(169,284)

Provisions for liabilities

(34,897)

(34,897)

Net assets

 

268,917

241,613

Capital and reserves

 

Called up share capital

8

100

100

Other reserves

148,774

148,774

Retained earnings

120,043

92,739

Shareholders' funds

 

268,917

241,613

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Little and Large Properties ( Leeds ) Limited

(Registration number: 06818141)
Balance Sheet as at 28 February 2023

Approved and authorised by the Board on 13 November 2023 and signed on its behalf by:
 

.........................................
Mr David Shakeshaft
Director

 

Little and Large Properties ( Leeds ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
11 Armley Grange Walk
Leeds
West Yorkshire
LS12 3QW
England

These financial statements were authorised for issue by the Board on 13 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of rents received or receivable in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Little and Large Properties ( Leeds ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% reducing balance basis

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at it's fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Little and Large Properties ( Leeds ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

606

606

At 28 February 2023

606

606

Depreciation

At 1 March 2022

572

572

Charge for the year

7

7

At 28 February 2023

579

579

Carrying amount

At 28 February 2023

27

27

At 28 February 2022

34

34

5

Investment properties

2023
£

At 1 March

720,828

At 28 February

720,828

Investment property is valued at fair value in accordance with FRS 102 provided such property can be measured reliably and if so it shall be measured at fair value each reporting date with changes to fair value recognised in profit or loss.

 

Little and Large Properties ( Leeds ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

There has been no valuation of investment property by an independent valuer.

6

Debtors

2023
£

2022
£

Other debtors

11,300

300

11,300

300

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

255,784

270,920

Taxation and social security

 

7,523

6,101

Accruals and deferred income

 

1,381

1,380

 

264,688

278,401

Creditors include bank loans and overdrafts which are secured of £8,743 (2022 - £17,195).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

167,037

169,284

Creditors include bank loans and overdrafts which are secured of £162,087 (2022 - £162,378).

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Little and Large Properties ( Leeds ) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

167,037

169,284

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,943

19,638

Other borrowings

244,841

251,282

255,784

270,920

10

Related party transactions

Transactions with directors

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr David Shakeshaft

Director's loan account

61,662

(11,065)

38,712

89,309

         
       

Mr Mark Rhodes

Director's loan account

189,620

(36,400)

2,312

155,532