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REGISTERED NUMBER: 02117338 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

L.B. PROPERTY LIMITED

L.B. PROPERTY LIMITED (REGISTERED NUMBER: 02117338)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


L.B. PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: M G Bayliss





REGISTERED OFFICE: Old Bricklayers
Main Road
Grainthorpe
Louth
Lincolnshire
LN11 7JS





REGISTERED NUMBER: 02117338 (England and Wales)





ACCOUNTANTS: Smethurst & Co LLP
12 Abbey Road
GRIMSBY
DN32 0HL

L.B. PROPERTY LIMITED (REGISTERED NUMBER: 02117338)

ABRIDGED BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 270,000 270,000
270,000 270,000

CURRENT ASSETS
Debtors 1,411 1,805
Cash at bank 114,681 110,385
116,092 112,190
CREDITORS
Amounts falling due within one year 5,685 7,213
NET CURRENT ASSETS 110,407 104,977
TOTAL ASSETS LESS CURRENT
LIABILITIES

380,407

374,977

CAPITAL AND RESERVES
Allotted, called up and
fully paid share capital 25,000 25,000
Profit and loss account -
undistributable 147,209 147,209
Profit and loss account 208,198 202,768
380,407 374,977

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2023 and were signed by:




M G Bayliss - Director


L.B. PROPERTY LIMITED (REGISTERED NUMBER: 02117338)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

L.B. Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and equipment - 10% Straight Line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

L.B. PROPERTY LIMITED (REGISTERED NUMBER: 02117338)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022
and 30 June 2023 661
DEPRECIATION
At 1 July 2022
and 30 June 2023 661
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 270,000
NET BOOK VALUE
At 30 June 2023 270,000
At 30 June 2022 270,000

The fair value of the investment property was valued on an open market basis by the director M Bayliss on 30 June 2023.

The historical cost of the investment property is £97,791 (2022: £97,791).

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2015 97,791
Valuation in 2016 147,209
Valuation in 2022 25,000
270,000