2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 458,316 71,684 530,000 530,000 458,316 xbrli:pure xbrli:shares iso4217:GBP 10138669 2023-01-01 2023-12-31 10138669 2023-12-31 10138669 2022-12-31 10138669 2022-01-01 2022-12-31 10138669 2022-12-31 10138669 2021-12-31 10138669 bus:Director2 2023-01-01 2023-12-31 10138669 bus:Director1 2023-01-01 2023-12-31 10138669 core:WithinOneYear 2023-12-31 10138669 core:WithinOneYear 2022-12-31 10138669 core:AfterOneYear 2023-12-31 10138669 core:AfterOneYear 2022-12-31 10138669 core:ShareCapital 2023-12-31 10138669 core:ShareCapital 2022-12-31 10138669 core:RevaluationReserve 2023-12-31 10138669 core:RetainedEarningsAccumulatedLosses 2023-12-31 10138669 core:RetainedEarningsAccumulatedLosses 2022-12-31 10138669 core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 10138669 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 10138669 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 10138669 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 10138669 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10138669 bus:Director1 2022-12-31 10138669 bus:Director1 2023-12-31 10138669 bus:Director2 2022-12-31 10138669 bus:Director2 2023-12-31 10138669 bus:Director1 2021-12-31 10138669 bus:Director1 2022-12-31 10138669 bus:Director2 2021-12-31 10138669 bus:Director2 2022-12-31 10138669 bus:Director1 2022-01-01 2022-12-31 10138669 bus:Director2 2022-01-01 2022-12-31 10138669 bus:SmallEntities 2023-01-01 2023-12-31 10138669 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10138669 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10138669 bus:EntityHasNeverTraded 2023-01-01 2023-12-31 10138669 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10138669 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 10138669
Lightfoot Property Rentals Ltd
Filleted Unaudited Financial Statements
31 December 2023
Lightfoot Property Rentals Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
530,000
458,316
Current assets
Cash at bank and in hand
20,237
6,423
Creditors: amounts falling due within one year
6
346,941
333,561
---------
---------
Net current liabilities
326,704
327,138
---------
---------
Total assets less current liabilities
203,296
131,178
Creditors: amounts falling due after more than one year
7
132,000
132,000
Provisions
16,934
---------
---------
Net assets/(liabilities)
54,362
( 822)
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
54,750
Profit and loss account
( 1,388)
( 1,822)
--------
-------
Shareholders funds/(deficit)
54,362
( 822)
--------
-------
These 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 statement of comprehensive income has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Lightfoot Property Rentals Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
Mr S R Sidwell
Director
Company registration number: 10138669
Lightfoot Property Rentals Ltd
Notes to the Financial Statements
Year ended 31 December 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 Copes Park Farm, Lightfoot Road, Uttoxeter, Staffs, ST14 7HA.
2. Statement of compliance
These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is the amount of rent due to the company for the accounting period.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Freehold property
£
Cost or valuation
At 1 January 2023
458,316
Revaluations
71,684
---------
At 31 December 2023
530,000
---------
Depreciation
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
530,000
---------
At 31 December 2022
458,316
---------
The valuation of investment properties was carried out by the directors at 31st December 2023. The valuation was made on the assumption that the properties were offered for sale with the benefit of vacant possession.
6. Creditors: amounts falling due within one year
2023
2022
£
£
Central Civil Supplies Ltd Loan
12,000
12,000
Other creditors
334,941
321,561
---------
---------
346,941
333,561
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Central Civil Supplies Ltd Loan
132,000
132,000
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £72,000 (2022: £84,000) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
No interest is charged on the loan, repayments are currently suspended.
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions
16,934
--------
----
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Revaluation of tangible assets
16,934
--------
----
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mrs S J Sidwell
( 125,667)
( 2,872)
( 128,539)
Mr S R Sidwell
( 167,433)
( 4,789)
( 172,222)
---------
-------
---------
( 293,100)
( 7,661)
( 300,761)
---------
-------
---------
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mrs S J Sidwell
( 123,584)
( 2,083)
( 125,667)
Mr S R Sidwell
( 163,516)
( 3,917)
( 167,433)
---------
-------
---------
( 287,100)
( 6,000)
( 293,100)
---------
-------
---------
10. Related party transactions
The company has borrowed £200,000 initially interest free from a company under the control of the directors of this company. The company pays interest on loans made to it by the directors at the rate of 5% p a