Registered number
10918356
LMSL Freehold Limited
Filleted Accounts
31 December 2022
LMSL Freehold Limited
Registered number: 10918356
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Investment property 3 233,985 233,985
Creditors: amounts falling due within one year 4 (239,232) (239,232)
Net current liabilities (239,232) (239,232)
Net liabilities (5,247) (5,247)
Capital and reserves
Called up share capital 2 2
Profit and loss account (5,249) (5,249)
Shareholder's funds (5,247) (5,247)
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 member has 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.
Mr L Mohamed
Director
Approved by the board on 27 November 2023
LMSL Freehold Limited
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment Property
Investment properties are carried at fair value determined annually by the directors and derived from the current market rents and investmrent property yields for comparable real esttae, adjusted if necessary for any differenve in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comrehensive cincome.
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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 0 0
3 Investment property
Land and buildings
£
Cost
At 1 January 2022 233,985
At 31 December 2022 233,985
Depreciation
At 31 December 2022 -
Net book value
At 31 December 2022 233,985
At 31 December 2021 233,985
4 Creditors: amounts falling due within one year 2022 2021
£ £
Other creditors 239,232 239,232
239,232 239,232
5 Related party transactions
The company has taken the exemption available in FRS102 1A.35 and not disclosed balances and transactions entered into between two or more members of the group, provided that any subsidairy which is a party to the transaction is wholly owned by such a member.
6 Controlling party
The ultimate parent undertaking is LMSL Holdings Limited.
There is no ultimate controlling party.
7 Other information
LMSL Freehold Limited is a private company limited by shares and incorporated in England. Its registered office is:
113 Hoe Street
Walthamstow
London
E17 4RX
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