Company Registration No. 10033222 (England and Wales)
LLOYD PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
LLOYD PROPERTIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
LLOYD PROPERTIES LIMITED
COMPANY INFORMATION
Director
Mrs J M Chandler
Company number
10033222
Registered office
42 Greenhill
Bromsgrove
Worcestershire
B60 1BL
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
112 High Street
Bromsgrove
Worcestershire
B61 8EZ
LLOYD PROPERTIES LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LLOYD PROPERTIES LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lloyd Properties Limited for the year ended 28 February 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lloyd Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lloyd Properties Limited and state those matters that we have agreed to state to the Board of Directors of Lloyd Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lloyd Properties Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Lloyd Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lloyd Properties Limited. You consider that Lloyd Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lloyd Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
30 October 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
LLOYD PROPERTIES LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,111
3,658
Investment properties
4
500,000
500,000
503,111
503,658
Current assets
Debtors
5
357
2,411
Cash at bank and in hand
10,292
24,928
10,649
27,339
Creditors: amounts falling due within one year
6
(106,826)
(139,056)
Net current liabilities
(96,177)
(111,717)
Total assets less current liabilities
406,934
391,941
Creditors: amounts falling due after more than one year
7
(190,313)
(190,313)
Provisions for liabilities
9
(24,571)
(24,675)
Net assets
192,050
176,953
Capital and reserves
Called up share capital
10
1
1
Other reserves
102,230
102,230
Profit and loss reserves
89,819
74,722
Total equity
192,050
176,953

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

LLOYD PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023
28 February 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 30 October 2023.
Mrs J M Chandler
Director
Company Registration No. 10033222
LLOYD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
1
Accounting policies
Company information

Lloyd Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 42 Greenhill, Greenhill, Bromsgrove, Worcestershire, B60 1BL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% on reducing balance
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LLOYD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).

3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 March 2022 and 28 February 2023
9,643
Depreciation and impairment
At 1 March 2022
5,985
Depreciation charged in the year
547
At 28 February 2023
6,532
Carrying amount
At 28 February 2023
3,111
At 28 February 2022
3,658
LLOYD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 6 -
4
Investment property
2023
£
Fair value
At 1 March 2022 and 28 February 2023
500,000

The director has assessed the market value of the properties and considers that there has been no significant change in the market value at the year end.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
357
-
0
Other debtors
-
0
2,411
357
2,411
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
3,645
5,411
Other creditors
103,181
133,645
106,826
139,056
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
190,313
190,313
8
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
190,313
190,313
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
LLOYD PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 7 -
9
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
24,571
24,675
10
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary of £1 each
1
1
1
1
11
Ultimate controlling party

The ultimate controlling party is Mrs J M Chandler.

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