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Company No: 02275379 (England and Wales)

LLOYD DAVIS INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

LLOYD DAVIS INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

LLOYD DAVIS INVESTMENTS LIMITED

BALANCE SHEET

As at 31 July 2023
LLOYD DAVIS INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 275,000 275,000
275,000 275,000
Current assets
Debtors 4 0 580
Cash at bank and in hand 152,704 152,789
152,704 153,369
Creditors: amounts falling due within one year 5 ( 10,871) ( 6,022)
Net current assets 141,833 147,347
Total assets less current liabilities 416,833 422,347
Provision for liabilities ( 31,882) ( 31,882)
Net assets 384,951 390,465
Capital and reserves
Called-up share capital 65,000 65,000
Profit and loss account 319,951 325,465
Total shareholders' funds 384,951 390,465

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

Directors' responsibilities:

The financial statements of Lloyd Davis Investments Limited (registered number: 02275379) were approved and authorised for issue by the Board of Directors on 22 March 2024. They were signed on its behalf by:

S J Maidment
Director
LLOYD DAVIS INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
LLOYD DAVIS INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lloyd Davis Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 100 Lake Drive, Hamworthy, Poole, BH15 4LU, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Revenue from services is recognised as they are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.

Investment property not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Total
£ £
Cost
At 01 August 2022 275,000 275,000
At 31 July 2023 275,000 275,000
Accumulated depreciation
At 01 August 2022 0 0
At 31 July 2023 0 0
Net book value
At 31 July 2023 275,000 275,000
At 31 July 2022 275,000 275,000

4. Debtors

2023 2022
£ £
Trade debtors 0 580

5. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 3,398 3,623
Other creditors 7,473 2,399
10,871 6,022