Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mrs S O'Connell Mr R C O'Connell 28/02/2013 Miss S O'Connell 24/03/2015 18 October 2023 The principal activity of the Company is that of rental property. 08424809 2023-03-31 08424809 bus:Director2 2023-03-31 08424809 bus:Director3 2023-03-31 08424809 2022-03-31 08424809 core:CurrentFinancialInstruments 2023-03-31 08424809 core:CurrentFinancialInstruments 2022-03-31 08424809 core:ShareCapital 2023-03-31 08424809 core:ShareCapital 2022-03-31 08424809 core:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 08424809 core:FurtherSpecificReserve1ComponentTotalEquity 2022-03-31 08424809 core:RetainedEarningsAccumulatedLosses 2023-03-31 08424809 core:RetainedEarningsAccumulatedLosses 2022-03-31 08424809 core:LeaseholdImprovements 2022-03-31 08424809 core:Vehicles 2022-03-31 08424809 core:FurnitureFittings 2022-03-31 08424809 core:OtherPropertyPlantEquipment 2022-03-31 08424809 core:LeaseholdImprovements 2023-03-31 08424809 core:Vehicles 2023-03-31 08424809 core:FurnitureFittings 2023-03-31 08424809 core:OtherPropertyPlantEquipment 2023-03-31 08424809 bus:OrdinaryShareClass1 2023-03-31 08424809 bus:OrdinaryShareClass2 2023-03-31 08424809 2022-04-01 2023-03-31 08424809 bus:FullAccounts 2022-04-01 2023-03-31 08424809 bus:SmallEntities 2022-04-01 2023-03-31 08424809 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08424809 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08424809 bus:Director1 2022-04-01 2023-03-31 08424809 bus:Director2 2022-04-01 2023-03-31 08424809 bus:Director3 2022-04-01 2023-03-31 08424809 core:Vehicles core:TopRangeValue 2022-04-01 2023-03-31 08424809 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 08424809 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 08424809 2021-04-01 2022-03-31 08424809 core:LeaseholdImprovements 2022-04-01 2023-03-31 08424809 core:Vehicles 2022-04-01 2023-03-31 08424809 core:FurnitureFittings 2022-04-01 2023-03-31 08424809 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 08424809 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08424809 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 08424809 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 08424809 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08424809 (England and Wales)

LIBRA INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

LIBRA INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

LIBRA INVESTMENTS LIMITED

BALANCE SHEET

As at 31 March 2023
LIBRA INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 146,832 41,438
Investment property 4 3,106,648 3,106,648
3,253,480 3,148,086
Current assets
Debtors 5 634,283 533,436
Cash at bank and in hand 178,915 362,434
813,198 895,870
Creditors: amounts falling due within one year 6 ( 100,194) ( 94,275)
Net current assets 713,004 801,595
Total assets less current liabilities 3,966,484 3,949,681
Provision for liabilities ( 48,727) ( 51,712)
Net assets 3,917,757 3,897,969
Capital and reserves
Called-up share capital 7 350 350
Fair value reserve 238,703 238,704
Profit and loss account 3,678,704 3,658,915
Total shareholders' funds 3,917,757 3,897,969

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Libra Investments Limited (registered number: 08424809) were approved and authorised for issue by the Board of Directors on 18 October 2023. They were signed on its behalf by:

Mr R C O'Connell
Director
Miss S O'Connell
Director
LIBRA INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
LIBRA INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Libra Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Littlewood House, Jubilee Road, Totnes, TQ9 5BP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Other property, plant and equipment 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 0

3. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 April 2022 0 63,355 3,598 8,461 75,414
Additions 122,365 0 2,047 146 124,558
At 31 March 2023 122,365 63,355 5,645 8,607 199,972
Accumulated depreciation
At 01 April 2022 0 26,091 2,715 5,170 33,976
Charge for the financial year 5,029 12,671 612 852 19,164
At 31 March 2023 5,029 38,762 3,327 6,022 53,140
Net book value
At 31 March 2023 117,336 24,593 2,318 2,585 146,832
At 31 March 2022 0 37,264 883 3,291 41,438

4. Investment property

Investment property
£
Valuation
As at 01 April 2022 3,106,648
As at 31 March 2023 3,106,648

Valuation

The investment properties were valued at £3,106,648 by the directors at 31 March 2023.

5. Debtors

2023 2022
£ £
Trade debtors 31,873 38,192
Amounts owed by Group undertakings 563,050 448,050
Prepayments and accrued income 39,360 47,194
634,283 533,436

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 3,522 1,957
Accruals and deferred income 65,091 45,439
Corporation tax 15,274 33,683
Other taxation and social security 16,307 13,196
100,194 94,275

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
333 Ordinary A shares of £ 1.00 each 333 333
17 Ordinary B shares of £ 1.00 each 17 17
350 350