LIMOLAKE LIMITED 03610038 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Development of building projects Digita Accounts Production Advanced 6.30.9574.0 true 03610038 2022-04-01 2023-03-31 03610038 2023-03-31 03610038 bus:OrdinaryShareClass1 2023-03-31 03610038 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-03-31 03610038 core:CurrentFinancialInstruments 2023-03-31 03610038 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03610038 core:Non-currentFinancialInstruments 2023-03-31 03610038 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03610038 core:LandBuildings 2023-03-31 03610038 bus:SmallEntities 2022-04-01 2023-03-31 03610038 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03610038 bus:FullAccounts 2022-04-01 2023-03-31 03610038 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 03610038 bus:RegisteredOffice 2022-04-01 2023-03-31 03610038 bus:CompanySecretary1 2022-04-01 2023-03-31 03610038 bus:Director5 2022-04-01 2023-03-31 03610038 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 03610038 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03610038 countries:England 2022-04-01 2023-03-31 03610038 2022-03-31 03610038 core:LandBuildings 2022-03-31 03610038 2021-04-01 2022-03-31 03610038 2022-03-31 03610038 bus:OrdinaryShareClass1 2022-03-31 03610038 core:CurrentFinancialInstruments 2022-03-31 03610038 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 03610038 core:Non-currentFinancialInstruments 2022-03-31 03610038 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 03610038 core:LandBuildings 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03610038

LIMOLAKE LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

LIMOLAKE LIMITED

Contents

Company Information

1

Statement of Comprehensive Income

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

LIMOLAKE LIMITED

Company Information

Director

Mr MARCUS SIMON COOPER

Company secretary

Mr BENJAMIN IAIN WEST

Registered office

16 FINCHLEY ROAD
ST JOHNS WOOD
LONDON
NW8 6EB

 

LIMOLAKE LIMITED

Statement of Comprehensive Income for the Year Ended 31 March 2023

2023
£

2022
£

Profit for the year

76,805

144,435

Total comprehensive income for the year

76,805

144,435

 

LIMOLAKE LIMITED

(Registration number: 03610038)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,825,945

5,825,945

Other financial assets

5

2,253,000

2,253,000

 

8,078,945

8,078,945

Current assets

 

Debtors

6

2,216,205

2,201,061

Cash at bank and in hand

 

242,301

331,631

 

2,458,506

2,532,692

Creditors: Amounts falling due within one year

7

(2,964,956)

(3,110,264)

Net current liabilities

 

(506,450)

(577,572)

Total assets less current liabilities

 

7,572,495

7,501,373

Creditors: Amounts falling due after more than one year

7

(2,176,197)

(2,181,881)

Provisions for liabilities

(332,249)

(332,249)

Net assets

 

5,064,049

4,987,243

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

5,064,047

4,987,241

Shareholders' funds

 

5,064,049

4,987,243

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

LIMOLAKE LIMITED

(Registration number: 03610038)
Balance Sheet as at 31 March 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 March 2024
 

.........................................
Mr MARCUS SIMON COOPER
Director

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

LIMOLAKE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
16 FINCHLEY ROAD
ST JOHNS WOOD
LONDON
NW8 6EB
England

These financial statements were authorised for issue by the director on 8 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

LIMOLAKE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

In accordance with FRS 102 as applied for Smaller Entities by section 1A of the standard, investment properties are held under the revaluation model, whereby revaluations are undertaken regularly to ensure that the carrying amount does not materially differ from the fair value at the end of the period.


Any aggregate surplus or temporary deficit from the original cost is cumulated within equity in the revaluation reserve and also reflected in other comprehensive income. Any impairment in the value of an investment property from original cost is taken to the profit and loss account for the year.

On realisation any gain or loss is calculated by reference to the carrying value at the last balance sheet date and is included in the profit and loss account. Any balance in the revaluation reserve is transferred to the profit and loss account reserve.


No depreciation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years unexpired. FRS 102 requires all properties to be depreciated however the residual value of such investment properties is considered not to be materially different from that of the carrying value and therefore depreciation is not required.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

LIMOLAKE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

LIMOLAKE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Investment property
£

Total
£

Cost or valuation

At 1 April 2022

5,825,945

5,825,945

At 31 March 2023

5,825,945

5,825,945

Depreciation

Carrying amount

At 31 March 2023

5,825,945

5,825,945

At 31 March 2022

5,825,945

5,825,945

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2022

2,253,000

2,253,000

At 31 March 2023

2,253,000

2,253,000

Impairment

Carrying amount

At 31 March 2023

2,253,000

2,253,000

 

LIMOLAKE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

33,560

18,418

Other debtors

2,182,645

2,182,643

 

2,216,205

2,201,061

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

150,520

167,936

trade creditors

 

57

(8,209)

Taxation and social security

 

1,978

457

Accruals and deferred income

 

44,381

43,387

Other creditors

 

2,768,020

2,906,693

 

2,964,956

3,110,264

Creditors include bank loans and overdrafts which are secured of £150,520 (2022 - £167,936).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

2,176,197

2,181,881

Creditors include bank loans and overdrafts which are secured of £2,176,197 (2022 - £2,181,881).

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

LIMOLAKE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,176,197

2,181,881

2023
£

2022
£

Current loans and borrowings

Bank borrowings

150,520

167,936