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Registered number: 13500640
Lisset Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13500640
31 July 2023 31 July 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 177,983 177,983
177,983 177,983
CURRENT ASSETS
Debtors 5 - 661
Cash at bank and in hand 7,172 1,184
7,172 1,845
Creditors: Amounts Falling Due Within One Year 6 (54,534 ) (53,930 )
NET CURRENT ASSETS (LIABILITIES) (47,362 ) (52,085 )
TOTAL ASSETS LESS CURRENT LIABILITIES 130,621 125,898
Creditors: Amounts Falling Due After More Than One Year 7 (127,485 ) (127,485 )
NET ASSETS/(LIABILITIES) 3,136 (1,587 )
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 3,036 (1,687 )
SHAREHOLDERS' FUNDS 3,136 (1,587)
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
J M Horne
Director
23rd April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lisset Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13500640 . The registered office is Unit 8 Wheatcroft Business Park , Landmere Lane, Edwalton, Nottingham, NG12 4DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible.
Current tax for the year is recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Investment Property
31 July 2023
£
Fair Value
As at 1 August 2022 and 31 July 2023 177,983
5. Debtors
31 July 2023 31 July 2022
£ £
Due within one year
Other debtors - 661
- 661
6. Creditors: Amounts Falling Due Within One Year
31 July 2023 31 July 2022
£ £
Corporation tax 712 -
Other creditors 53,822 53,930
54,534 53,930
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Page 4
7. Creditors: Amounts Falling Due After More Than One Year
31 July 2023 31 July 2022
£ £
Bank loans 127,485 127,485
127,485 127,485
8. Related Party Transactions
As at 31 July 2023, the company owed the directors £53,222 (2022: £53,330).
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