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Company Registration No. 13398384 (England and Wales)
LL2 PROPERTY SERVICES LTD Unaudited accounts for the year ended 31 May 2023
LL2 PROPERTY SERVICES LTD Unaudited accounts Contents
Page
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LL2 PROPERTY SERVICES LTD Company Information for the year ended 31 May 2023
Directors
JAGUN, Olamide ADEOYE, Lawrence Ayodeji
Company Number
13398384 (England and Wales)
Registered Office
52 Falcon Way East Leake, Loughborough, Leicestershire, LE12 6YF United Kingdom
Accountants
Ease Accounting Associates UK Limited Chartered Accountants 22, BRENT WAY DARTFORD Kent DA2 6DA
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of LL2 PROPERTY SERVICES LTD for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LL2 PROPERTY SERVICES LTD for the year ended 31 May 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of LL2 PROPERTY SERVICES LTD, as a body, in accordance with the terms of our engagement letter dated 7 January 2023. Our work has been undertaken solely to prepare for your approval the accounts of LL2 PROPERTY SERVICES LTD and state those matters that we have agreed to state to the Board of Directors of LL2 PROPERTY SERVICES LTD, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LL2 PROPERTY SERVICES LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LL2 PROPERTY SERVICES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of LL2 PROPERTY SERVICES LTD. You consider that LL2 PROPERTY SERVICES LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of LL2 PROPERTY SERVICES LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Ease Accounting Associates UK Limited Chartered Accountants Chartered Accountants 22, BRENT WAY DARTFORD Kent DA2 6DA 20 February 2024
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LL2 PROPERTY SERVICES LTD Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
566,921 
384,019 
Current assets
Debtors
1,038 
- 
Cash at bank and in hand
874 
1,865 
1,912 
1,865 
Creditors: amounts falling due within one year
(23,082)
(10,845)
Net current liabilities
(21,170)
(8,980)
Total assets less current liabilities
545,751 
375,039 
Creditors: amounts falling due after more than one year
(547,509)
(378,275)
Net liabilities
(1,758)
(3,236)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(1,760)
(3,238)
Shareholders' funds
(1,758)
(3,236)
For the year ending 31 May 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by
ADEOYE, Lawrence Ayodeji Director Company Registration No. 13398384
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LL2 PROPERTY SERVICES LTD Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
LL2 PROPERTY SERVICES LTD is a private company, limited by shares, registered in England and Wales, registration number 13398384. The registered office is 52 Falcon Way, East Leake, , Loughborough, , Leicestershire,, LE12 6YF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: The company has taken advantage of the provisions of FRS 15 to freeze the value of freehold property. No depreciation has been provided on freehold property as the directors consider depreciation to be immaterial because of the very long useful economic life of the building.
Land & buildings
Freehold No Depreciation
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LL2 PROPERTY SERVICES LTD Notes to the Accounts for the year ended 31 May 2023
Going concern
The financial statements have been prepared on the going concern basis. This assumes that the company will continue in operational existence for the foreseeable future. At the balance sheet date, the company’s liability for the period ended 31 May 2023 exceeds its assets. The director of the company has sought assurance from the creditors that their debts will not be called in within the next twelve months. The director has therefore deemed it appropriate that the financial statements be prepared on the going concern basis.
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 June 2022
384,019 
Additions
182,902 
At 31 May 2023
566,921 
Depreciation
At 31 May 2023
- 
Net book value
At 31 May 2023
566,921 
At 31 May 2022
384,019 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due after more than one year
Other debtors
1,038 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
22,607 
10,095 
Accruals
475 
750 
23,082 
10,845 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
360,095 
237,618 
Loans from directors
187,414 
140,657 
547,509 
378,275 
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LL2 PROPERTY SERVICES LTD Notes to the Accounts for the year ended 31 May 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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