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REGISTERED NUMBER: 12115985 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

LAZY HILL PROPERTY INVESTMENTS LIMITED

LAZY HILL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 12115985)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAZY HILL PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: J D Patel
Mrs H R Patel



REGISTERED OFFICE: 2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



REGISTERED NUMBER: 12115985 (England and Wales)



ACCOUNTANTS: Ashcrofts Accountants Limited
2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



BANKERS: Virgin Money
Jubilee House
Gosforth
Newcastle upon Tyne
NE3 4PL

LAZY HILL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 12115985)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 6,564 8,205
Investment property 5 963,603 963,603
970,167 971,808

CURRENT ASSETS
Debtors 6 6,918 6,612
Cash at bank 11,657 5,149
18,575 11,761
CREDITORS
Amounts falling due within one year 7 (412,811 ) (408,319 )
NET CURRENT LIABILITIES (394,236 ) (396,558 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

575,931

575,250

CREDITORS
Amounts falling due after more than one
year

8

(670,462

)

(670,411

)
NET LIABILITIES (94,531 ) (95,161 )

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 (94,631 ) (95,261 )
SHAREHOLDERS' FUNDS (94,531 ) (95,161 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

LAZY HILL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 12115985)

BALANCE SHEET - continued
31 JULY 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 13 April 2024 and were signed on its behalf by:





J D Patel - Director


LAZY HILL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 12115985)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Lazy Hill Property Investments Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 NIL (2022 - NIL).

LAZY HILL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 12115985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
At 1 August 2022
and 31 July 2023 10,220
DEPRECIATION
At 1 August 2022 2,015
Charge for year 1,641
At 31 July 2023 3,656
NET BOOK VALUE
At 31 July 2023 6,564
At 31 July 2022 8,205

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 963,603
NET BOOK VALUE
At 31 July 2023 963,603
At 31 July 2022 963,603

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 200 200
Deferred tax asset 6,382 6,412
Prepayments and accrued income 336 -
6,918 6,612

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,466 2,164
Other creditors 353,000 350,000
Directors' loan accounts 54,809 54,809
Accruals and deferred income 3,536 1,346
412,811 408,319

LAZY HILL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 12115985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 670,462 670,411

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 345,373 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 325,089 670,411

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
In more than five years 550 550

11. DEFERRED TAX
£   
Balance at 1 August 2022 (6,412 )
Charged during the year 30
Balance at 31 July 2023 (6,382 )

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 August 2022 (95,261 )
Profit for the year 630
At 31 July 2023 (94,631 )

LAZY HILL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 12115985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 July 2023 there was a loan from Mr J D Patel of £28,501 (2022: £28,501). This unsecured loan is interest free and repayable on demand.

At 31 July 2023 there was a loan from Mrs H Patel of £26,308 (2022: £26,308). This unsecured loan is interest free and repayable on demand.

15. RELATED PARTY DISCLOSURES

At 31 July 2023 there was a loan due to JJP Healthcare Limited of £353,000 (2022: £350,000), a company in which Mr J D Patel is a director.This loan is interest free and repayable on demand.