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COMPANY REGISTRATION NUMBER: 13692814
Lymer's Property Rentals Ltd
Filleted Unaudited Abridged Financial Statements
31 October 2023
Lymer's Property Rentals Ltd
Abridged Financial Statements
Year Ended 31 October 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Lymer's Property Rentals Ltd
Abridged Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
5
2,130
3,201
Investments
6
529,124
270,596
---------
---------
531,254
273,797
Current Assets
Debtors
289
8,658
Cash at bank and in hand
2,623
13,325
-------
--------
2,912
21,983
Creditors: amounts falling due within one year
298,058
237,148
---------
---------
Net Current Liabilities
295,146
215,165
---------
---------
Total Assets Less Current Liabilities
236,108
58,632
Creditors: amounts falling due after more than one year
242,370
64,828
---------
--------
Net Liabilities
( 6,262)
( 6,196)
---------
--------
Capital and Reserves
Called up share capital
8
1
1
Profit and loss account
( 6,263)
( 6,197)
-------
-------
Shareholders Deficit
( 6,262)
( 6,196)
-------
-------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Lymer's Property Rentals Ltd
Abridged Statement of Financial Position (continued)
31 October 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 8 February 2024 , and are signed on behalf of the board by:
Mr A M Lymer
Director
Company registration number: 13692814
Lymer's Property Rentals Ltd
Notes to the Abridged Financial Statements
Year Ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Birchwood Way, Alfreton, Derbyshire, DE55 4QQ.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
£
Cost
At 1 November 2022
3,201
Disposals
( 538)
-------
At 31 October 2023
2,663
-------
Depreciation
At 1 November 2022
Charge for the year
533
-------
At 31 October 2023
533
-------
Carrying amount
At 31 October 2023
2,130
-------
At 31 October 2022
3,201
-------
6. Investments
£
Cost
At 1 November 2022
270,596
Additions
258,528
---------
At 31 October 2023
529,124
---------
Impairment
At 1 November 2022 and 31 October 2023
---------
Carrying amount
At 31 October 2023
529,124
---------
At 31 October 2022
270,596
---------
7. Secured liabilities
The aggregate amount of secured liabilities secured on the assets of the company at the year end were £255,230 (2022: £67,040). The assets are secured by charges held by Paragon Bank PLC dated 28 June 2022 and The Mortgage Works (UK) PLC dated 13 September 2023 and 28 September 2023.
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
9. Director's advances, credits and guarantees
At the year end the directors loan account was overdrawn by £286, this will be repaid within 9 months of the year end.
10. Related party transactions
The company has taken advantage of exemption conferred by FRS 102 S33.1A, removing the requirement to disclose transactions between group companies. Lymers' Group Ltd is the beneficial owner of 100% of the ordinary share capital of Lymers Property Rentals Ltd. During the year the company provided loans from related parties. The balance as at 31 October 2023 was £284,297 in total. The loans are unsecured, interest free and repayable on demand.
11. Controlling party
On 1 November 2022 Lymer's Group Ltd became the ultimate parent company, a company incorporated in England and Wales. The registered office address is Birchwood Way, Somercotes, Alfreton, DE55 4QQ.