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Company No: 14236707 (England and Wales)

L&H PROPERTIES (BRIXHAM) LIMITED

Unaudited Financial Statements
For the financial period from 15 July 2022 to 31 July 2023
Pages for filing with the registrar

L&H PROPERTIES (BRIXHAM) LIMITED

Unaudited Financial Statements

For the financial period from 15 July 2022 to 31 July 2023

Contents

L&H PROPERTIES (BRIXHAM) LIMITED

COMPANY INFORMATION

For the financial period from 15 July 2022 to 31 July 2023
L&H PROPERTIES (BRIXHAM) LIMITED

COMPANY INFORMATION (continued)

For the financial period from 15 July 2022 to 31 July 2023
DIRECTORS Mr D J Harding
Mr D O Langdon
SECRETARY Mr P A Wallace
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
COMPANY NUMBER 14236707 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
L&H PROPERTIES (BRIXHAM) LIMITED

BALANCE SHEET

As at 31 July 2023
L&H PROPERTIES (BRIXHAM) LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
31.07.2023
£
Current assets
Stocks 567,668
Debtors 3 7,351
Cash at bank and in hand 28,460
603,479
Creditors: amounts falling due within one year 4 ( 608,812)
Net current liabilities (5,333)
Total assets less current liabilities (5,333)
Net liabilities ( 5,333)
Capital and reserves
Called-up share capital 5 100
Profit and loss account ( 5,433 )
Total shareholders' deficit ( 5,333)

For the financial period 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 L&H Properties (Brixham) Limited (registered number: 14236707) were approved and authorised for issue by the Board of Directors on 10 April 2024. They were signed on its behalf by:

Mr D O Langdon
Director
Mr D J Harding
Director
L&H PROPERTIES (BRIXHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 15 July 2022 to 31 July 2023
L&H PROPERTIES (BRIXHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 15 July 2022 to 31 July 2023
1. Accounting policies

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

General information and basis of accounting

L&H Properties (Brixham) 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 Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £5,333. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements are prepared for a long period from incorporation on 15 July 2022 to the accounting date of 31 July 2023.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials and direct labour costs.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
15.07.2022 to
31.07.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 0

3. Debtors

31.07.2023
£
Other debtors 7,351

4. Creditors: amounts falling due within one year

31.07.2023
£
Trade creditors 6,232
Amounts owed to related parties 75,000
Other creditors 527,580
608,812

There are no amounts included above in respect of which any security has been given by the small entity.

5. Called-up share capital

31.07.2023
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

The share capital was issued and allotted upon incorporation on 15 July 2022.