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REGISTERED NUMBER: 12065775 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

L1 Property Improvements Ltd

L1 Property Improvements Ltd (Registered number: 12065775)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L1 Property Improvements Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr Stephen Bond
Mr Daniel Kewn





REGISTERED OFFICE: Unit 22
Heysham Road
Bootle
Merseyside
L30 6UR





REGISTERED NUMBER: 12065775 (England and Wales)





ACCOUNTANTS: LJS Accounting Services (UK) Ltd
Unit 5, 1st Floor
Connect Business Village
24 Derby Road
Liverpool
Merseyside
L5 9PR

L1 Property Improvements Ltd (Registered number: 12065775)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,726 20,390

CURRENT ASSETS
Work in Progress 218,000 78,669
Debtors 5 55,401 165,922
Cash at bank and in hand 131 846
273,532 245,437
CREDITORS
Amounts falling due within one year 6 254,631 217,969
NET CURRENT ASSETS 18,901 27,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,627

47,858

CREDITORS
Amounts falling due after more than one
year

7

(29,509

)

(38,139

)

PROVISIONS FOR LIABILITIES - (225 )
NET ASSETS 5,118 9,494

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 5,116 9,492
SHAREHOLDERS' FUNDS 5,118 9,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

L1 Property Improvements Ltd (Registered number: 12065775)

Balance Sheet - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





Mr Stephen Bond - Director


L1 Property Improvements Ltd (Registered number: 12065775)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

L1 Property Improvements Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

L1 Property Improvements Ltd (Registered number: 12065775)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2022 2,094 29,918 32,012
Additions 500 - 500
At 30 June 2023 2,594 29,918 32,512
DEPRECIATION
At 1 July 2022 921 10,701 11,622
Charge for year 360 4,804 5,164
At 30 June 2023 1,281 15,505 16,786
NET BOOK VALUE
At 30 June 2023 1,313 14,413 15,726
At 30 June 2022 1,173 19,217 20,390

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 47,361 150,000
Taxation 1,263 1,263
VAT 4,545 14,659
Deferred tax asset 2,232 -
55,401 165,922

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 98 -
Amounts owed to group undertakings 12,927 -
Tax - 339
Social security and other taxes 109 75
Other creditors 211,300 188,607
Directors' current accounts 28,115 27,846
Accrued expenses 2,082 1,102
254,631 217,969

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans - 2-5 years 29,509 38,139

L1 Property Improvements Ltd (Registered number: 12065775)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
2 Ordinary £1 2 2