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Company Registration No. 10501776 (England and Wales)
Leicester Road Estates Limited UNAUDITED FINANCIAL STATEMENTS for the year ended 31 May 2023
Leicester Road Estates Limited UNAUDITED FINANCIAL STATEMENTS Contents
Page
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Leicester Road Estates Limited Company Information for the year ended 31 May 2023
Director
H S Al-Mishwit
Company Number
10501776 (England and Wales)
Registered Office
55 Grosvenor Street Mayfair London W1K 3HY
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Leicester Road Estates Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
791 
390 
Cash at bank and in hand
1,390 
11,465 
2,181 
11,855 
Creditors: amounts falling due within one year
(30,517)
(24,839)
Net current liabilities
(28,336)
(12,984)
Net liabilities
(28,336)
(12,984)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(28,337)
(12,985)
Shareholders' funds
(28,336)
(12,984)
For the year ending 31 May 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 director acknowledges his 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 and authorised for issue on 27 February 2024 and were signed on its behalf by
H S Al-Mishwit Director Company Registration No. 10501776
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Leicester Road Estates Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Leicester Road Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 10501776. The registered office is 55 Grosvenor Street, Mayfair, London, W1K 3HY.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 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 financial instruments at fair value. The principal accounting policies adopted are set out below.
3
Accounting policies
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments? and Section 12 ?Other Financial Instruments Issues" of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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Leicester Road Estates Limited Notes to the Accounts for the year ended 31 May 2023
Going concern
The financial statements have been prepared on a going concern basis even though at the Balance Sheet date the company's current liabilities exceeded its total assets by £12,983. The director considers the going concern basis to be appropriate because in his opinion, the company will continue to obtain sufficient funding to enable it to pay its debts as they fall due. If the company was unable to continue obtaining sufficient funding to enable it to pay its debt as the fell due, it would be unable to continue trading and an adjustment would have been made to reduce the value of assets to their realisable amount, to provide for any further liabilities which might arise, and to re-classify fixed assets and long term liabilities as current assets and liabilities.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
91 
90 
Trade debtors
700 
300 
791 
390 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
30,517 
24,839 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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