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REGISTERED NUMBER: 06543654 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

LEFT FOOT BRAKING LIMITED

LEFT FOOT BRAKING LIMITED (REGISTERED NUMBER: 06543654)

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


LEFT FOOT BRAKING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: G Parodi
Mrs L Parodi





SECRETARY: Mrs L Parodi





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
BN21 4RU





REGISTERED NUMBER: 06543654 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

LEFT FOOT BRAKING LIMITED (REGISTERED NUMBER: 06543654)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,516 843
Investment property 5 1,285,429 1,536,052
1,287,945 1,536,895

CURRENT ASSETS
Debtors 6 648,077 198,781
Investments 7 12,870 -
Cash at bank and in hand 935 3,627
661,882 202,408
CREDITORS
Amounts falling due within one year 8 583,438 367,272
NET CURRENT ASSETS/(LIABILITIES) 78,444 (164,864 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,366,389

1,372,031

CREDITORS
Amounts falling due after more than one
year

9

(853,377

)

(855,076

)

PROVISIONS FOR LIABILITIES 11 (22,697 ) (25,722 )
NET ASSETS 490,315 491,233

CAPITAL AND RESERVES
Called up share capital 402 402
Retained earnings 489,913 490,831
SHAREHOLDERS' FUNDS 490,315 491,233

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.

LEFT FOOT BRAKING LIMITED (REGISTERED NUMBER: 06543654)

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 21 November 2023 and were signed on its behalf by:





G Parodi - Director


LEFT FOOT BRAKING LIMITED (REGISTERED NUMBER: 06543654)

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


1. STATUTORY INFORMATION

Left Foot Braking 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 receivable and business loan interest receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture,fittings & equipment - 25% on cost
Computer equipment - Over 3 years

Investment property
Investment property is carried at fair value. Revaluation surpluses or deficits are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

LEFT FOOT BRAKING LIMITED (REGISTERED NUMBER: 06543654)

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


4. TANGIBLE FIXED ASSETS
Furniture,fittings Computer
& equipment equipment Totals
£    £    £   
COST
At 1 April 2022 360 12,673 13,033
Additions - 3,199 3,199
At 31 March 2023 360 15,872 16,232
DEPRECIATION
At 1 April 2022 360 11,830 12,190
Charge for year - 1,526 1,526
At 31 March 2023 360 13,356 13,716
NET BOOK VALUE
At 31 March 2023 - 2,516 2,516
At 31 March 2022 - 843 843

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,536,052
Additions 100
Disposals (257,712 )
Revaluations 6,989
At 31 March 2023 1,285,429
NET BOOK VALUE
At 31 March 2023 1,285,429
At 31 March 2022 1,536,052

The fair value of the property at the balance sheet date has been estimated by the director.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2016 25,000
Valuation in 2017 190,214
Valuation in 2018 10,000
Valuation in 2022 (55,618 )
Valuation in 2023 6,989
Cost 1,108,844
1,285,429

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 629,182 197,475
Other debtors - 56
Accrued income 17,444 1,250
Prepayments 1,451 -
648,077 198,781

LEFT FOOT BRAKING LIMITED (REGISTERED NUMBER: 06543654)

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


7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 12,870 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,065 2,990
Trade creditors 310,534 12,814
Other creditors 12,000 12,000
Directors' current accounts 246,808 337,788
Deferred income 8,840 -
Accrued expenses 2,191 1,680
583,438 367,272

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 3,143 3,065
Bank loans - 2-5 years 6,271 8,048
Bank loans more 5 yrs non-inst 843,963 843,963
853,377 855,076

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 843,963 843,963

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 856,442 858,066

Bank loans of £843,962 (2022: £843,962) are secured by floating charges over the company assets.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Investment fair value movement 22,697 25,722

Deferred
tax
£   
Balance at 1 April 2022 25,722
On unrealised investment lgain 1,328
On realised investment gains (4,353 )
Balance at 31 March 2023 22,697

LEFT FOOT BRAKING LIMITED (REGISTERED NUMBER: 06543654)

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


12. NON DISTRIBUTABLE RESERVES

At 31 March 2023 there were non distributable reserves in respect of investment property revaluations net of deferred tax in the sum of £153,877 (2022: £166,782).