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REGISTERED NUMBER: 07176026 (England and Wales)















L.C.A. PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






L.C.A. PROPERTIES LTD (REGISTERED NUMBER: 07176026)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L.C.A. PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: A T Bengry
Mrs D C Bengry





REGISTERED OFFICE: West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ





REGISTERED NUMBER: 07176026 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

L.C.A. PROPERTIES LTD (REGISTERED NUMBER: 07176026)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 446 496
Investment property 6 3,584,249 3,266,919
3,584,695 3,267,415

CURRENT ASSETS
Debtors 7 2,992 2,778
Cash at bank 107,586 385,437
110,578 388,215
CREDITORS
Amounts falling due within one year 8 2,366,168 2,386,134
NET CURRENT LIABILITIES (2,255,590 ) (1,997,919 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,329,105

1,269,496

PROVISIONS FOR LIABILITIES 125,093 114,940
NET ASSETS 1,204,012 1,154,556

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Non distributable reserves 10 479,451 489,606
Retained earnings 10 723,561 663,950
SHAREHOLDERS' FUNDS 1,204,012 1,154,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

L.C.A. PROPERTIES LTD (REGISTERED NUMBER: 07176026)

BALANCE SHEET - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:





A T Bengry - Director


L.C.A. PROPERTIES LTD (REGISTERED NUMBER: 07176026)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

L.C.A. Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Formation costs have been amortised 100% in the period the expenditure occurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost and 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

L.C.A. PROPERTIES LTD (REGISTERED NUMBER: 07176026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. INTANGIBLE FIXED ASSETS
Formation
costs
£   
COST
At 1 August 2022
and 31 July 2023 212
AMORTISATION
At 1 August 2022
and 31 July 2023 212
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2022
and 31 July 2023 5,446
DEPRECIATION
At 1 August 2022 4,950
Charge for year 50
At 31 July 2023 5,000
NET BOOK VALUE
At 31 July 2023 446
At 31 July 2022 496

6. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 August 2022 3,266,919
Additions 317,330
At 31 July 2023 3,584,249
NET BOOK VALUE
At 31 July 2023 3,584,249
At 31 July 2022 3,266,919

L.C.A. PROPERTIES LTD (REGISTERED NUMBER: 07176026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

6. INVESTMENT PROPERTY - continued

Cost or valuation at 31 July 2023 is represented by:
£   
Valuation in 2018 604,452
Cost 2,979,797
3,584,249

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,979,797 2,662,467
Aggregate depreciation (658,243 ) (598,647 )

The investment properties were valued on an open market basis on 12 January 2018 by Jonathan Wright FNAEA .

The directors are of the opinion that the fair market valuation of the properties has not changed significantly during the year so a revaluation has not been done for the current accounting period.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 2,992 2,778

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 40 -
Amounts owed Leominster Car Auctions Ltd 2,349,506 2,350,026
Tax 15,550 35,117
Directors' current accounts 212 212
Accruals and deferred income 860 779
2,366,168 2,386,134

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

L.C.A. PROPERTIES LTD (REGISTERED NUMBER: 07176026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

10. RESERVES
Non
Retained distributable
earnings reserves Totals
£    £    £   

At 1 August 2022 663,950 489,606 1,153,556
Profit for the year 59,611 59,611
Deferred tax - (10,155 ) (10,155 )
At 31 July 2023 723,561 479,451 1,203,012

11. RELATED PARTY DISCLOSURES

L.C.A. Properties Ltd is a wholly owned subsidiary of Leominster Car Auctions Ltd. The companies have not traded at any time during this period but there is an outstanding loan of £2,349,506.00 at the year end date.

The controlling party is Leominster Car Auctions Ltd.

The ultimate controlling party is A T And Mrs D C Bengry.