Registration number:
Prepared for the registrar
for the
Year Ended 30 September 2023
Lunar Properties Oxford Limited
(Registration number: 13751396)
Balance Sheet as at 30 September 2023
Note |
2023 |
2022 |
|
Fixed assets |
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Tangible assets |
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|
|
Current assets |
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Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Deferred tax liabilities |
(4,529) |
(227) |
|
Net assets |
|
|
|
Capital and reserves |
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Called up share capital |
100 |
100 |
|
Profit and loss account |
79,057 |
26,066 |
|
Shareholders' funds |
79,157 |
26,166 |
For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
Lunar Properties Oxford Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Revenue recognition
Turnover comprises the fair value received for gross sales from the service of storage and rental of land.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Lunar Properties Oxford Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land |
£nil |
Plant and machinery |
15% of written down value |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Recognition and measurement
Impairment
Lunar Properties Oxford Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Freehold land |
Plant and machinery |
|
Cost |
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At 1 October 2022 |
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|
Additions |
- |
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At 30 September 2023 |
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|
Depreciation |
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At 1 October 2022 |
- |
|
Charge for the period |
- |
|
At 30 September 2023 |
- |
|
Carrying amount |
||
At 30 September 2023 |
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|
At 30 September 2022 |
|
|
Debtors |
30 September 2023 |
30 September 2022 |
|
Trade debtors |
|
|
|
|
Lunar Properties Oxford Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Creditors |
Note |
30 September 2023 |
30 September 2022 |
|
Due within one year |
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Directors' loan account |
|
|
|
Amount owed by related party |
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|
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Other creditors |
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Accrued expenses |
|
|
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Corporation tax liability |
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Deferred income |
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|
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Deferred tax |
Deferred tax assets and liabilities
2023 |
Liability |
Difference between accumulated depreciation and capital allowances |
|
|
2022 |
Liability |
Difference between accumulated depreciation and capital allowances |
|
|
Related party transactions |
At 30 September 2023, the directors were owed £4,782 (2022: £3,956) in the form of a directors' loan account. The loan is unsecured, repayable on demand and no interest is payable.
At 30 September 2023, the company owed £467,900 (2022: £467,900) to SCB (Oxford) Limited, a company related by virtue of the director S Belcher. The loan is unsecured, repayable on demand and no interest is payable.