Company Registration No. 12726524 (England and Wales)
Lotus Investment Property Limited
Unaudited accounts
for the year ended 30 June 2023
Lotus Investment Property Limited
Statement of financial position
as at 30 June 2023
Investment property
917,000
-
Cash at bank and in hand
23,004
-
Creditors: amounts falling due within one year
(742,809)
120
Net current (liabilities)/assets
(719,805)
120
Total assets less current liabilities
197,195
120
Provisions for liabilities
Called up share capital
120
120
Fair value reserve
145,329
-
Profit and loss account
17,657
-
Shareholders' funds
163,106
120
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by
John Smith
Director
Company Registration No. 12726524
Lotus Investment Property Limited
Notes to the Accounts
for the year ended 30 June 2023
Lotus Investment Property Limited is a private company, limited by shares, registered in England and Wales, registration number 12726524. The registered office is 46 Tower Hill, Bidford on Avon, Alcester, Warwickshire, B50 4DY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Net gain from fair value adjustments
179,418
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
4,142
-
Loans from directors
737,904
(120)
Lotus Investment Property Limited
Notes to the Accounts
for the year ended 30 June 2023
6
Deferred taxation
2023
2022
Revaluation of investment property
34,089
-
Charged to the profit and loss account
34,089
-
Provision at end of year
34,089
-
Allotted, called up and fully paid:
120 Ordinary shares of £1 each
120
120
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).