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REGISTERED NUMBER: 10574861 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

L3gacy Ltd

L3gacy Ltd (Registered number: 10574861)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L3gacy Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: P S Rajbans





REGISTERED OFFICE: First Floor
27 Shirwell Crescent
Furzton Lake
MILTON KEYNES
MK4 1GA





REGISTERED NUMBER: 10574861 (England and Wales)





ACCOUNTANTS: Sherwoods Ltd
Chartered Certified Accountants
1st Floor
27 Shirwell Crescent
Furzton Lake
Milton Keynes
Buckinghamshire
MK4 1GA

L3gacy Ltd (Registered number: 10574861)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,874,123 4,899,659

CURRENT ASSETS
Debtors 5 90,537 13,952
Cash at bank 217,022 23,570
307,559 37,522
CREDITORS
Amounts falling due within one year 6 3,578,642 2,700,490
NET CURRENT LIABILITIES (3,271,083 ) (2,662,968 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,603,040

2,236,691

CREDITORS
Amounts falling due after more than one
year

7

-

(715,049

)

PROVISIONS FOR LIABILITIES (447,792 ) (447,792 )
NET ASSETS 1,155,248 1,073,850

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 1,909,008 1,909,008
Retained earnings (753,860 ) (835,258 )
1,155,248 1,073,850

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

L3gacy Ltd (Registered number: 10574861)

Balance Sheet - continued
31 January 2024


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 director and authorised for issue on 16 April 2024 and were signed by:





P S Rajbans - Director


L3gacy Ltd (Registered number: 10574861)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

L3gacy 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 as modified by the revaluation of certain assets.

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.

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 2 (2023 - 2 ) .

L3gacy Ltd (Registered number: 10574861)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 February 2023
and 31 January 2024 4,825,000 102,140 4,927,140
DEPRECIATION
At 1 February 2023 - 27,481 27,481
Charge for year - 25,536 25,536
At 31 January 2024 - 53,017 53,017
NET BOOK VALUE
At 31 January 2024 4,825,000 49,123 4,874,123
At 31 January 2023 4,825,000 74,659 4,899,659

Cost or valuation at 31 January 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 2,356,800 - 2,356,800
Cost 2,468,200 102,140 2,570,340
4,825,000 102,140 4,927,140

If freehold properties had not been revalued they would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 2,468,200 2,468,200

Freehold properties were valued on an open market basis basis on 31 January 2023 by the director. .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 90,537 13,952

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts - 59,994
Taxation and social security 27,890 10,292
Other creditors 3,550,752 2,630,204
3,578,642 2,700,490

L3gacy Ltd (Registered number: 10574861)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 715,049

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 475,072

8. RESERVES
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 1,909,008