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REGISTERED NUMBER: 04062102 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

LIBRA LAND LIMITED

LIBRA LAND LIMITED (REGISTERED NUMBER: 04062102)

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

Chartered Accountants' Report 8

LIBRA LAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: A Rance





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 04062102 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

LIBRA LAND LIMITED (REGISTERED NUMBER: 04062102)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,904 31,025
Investment property 5 1,046,221 1,646,044
1,072,125 1,677,069

CURRENT ASSETS
Stocks 684,544 2,000
Debtors 6 96,740 86,852
Cash at bank 11,079 3,750
792,363 92,602
CREDITORS
Amounts falling due within one year 7 1,458,515 1,372,387
NET CURRENT LIABILITIES (666,152 ) (1,279,785 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

405,973

397,284

CREDITORS
Amounts falling due after more than one
year

8

(184,134

)

(184,134

)

PROVISIONS FOR LIABILITIES (8,391 ) (6,287 )
NET ASSETS 213,448 206,863

LIBRA LAND LIMITED (REGISTERED NUMBER: 04062102)

BALANCE SHEET - continued
31 JULY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves 10 153,258 153,258
Retained earnings 10 60,189 53,604
SHAREHOLDERS' FUNDS 213,448 206,863

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 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.

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 26 April 2024 and were signed by:





A Rance - Director


LIBRA LAND LIMITED (REGISTERED NUMBER: 04062102)

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


1. STATUTORY INFORMATION

Libra Land 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 as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents rents receivable during the year, exclusive of Value Added Tax.

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

Fixed assets are initially recognised at cost.

Investment property
As required by FRS102 (Section 1A) investment property is included in the financial statements at fair value. Any surplus (or deficit) is included in the accounts as a non distributable reserve.

Stocks
Stocks 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 stocks 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.


LIBRA LAND LIMITED (REGISTERED NUMBER: 04062102)

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


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant &
equipment
£   
COST
At 1 August 2022 96,769
Additions 1,355
At 31 July 2023 98,124
DEPRECIATION
At 1 August 2022 65,744
Charge for year 6,476
At 31 July 2023 72,220
NET BOOK VALUE
At 31 July 2023 25,904
At 31 July 2022 31,025

LIBRA LAND LIMITED (REGISTERED NUMBER: 04062102)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 1,646,044
Additions 32,340
Reclassification/transfer (632,163 )
At 31 July 2023 1,046,221
NET BOOK VALUE
At 31 July 2023 1,046,221
At 31 July 2022 1,646,044

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2017 156,390
Cost 889,831
1,046,221

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 889,831 1,489,654

Investment property was valued on an open market basis on 31 July 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 96,740 86,852

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 1,458,515 1,372,387

LIBRA LAND LIMITED (REGISTERED NUMBER: 04062102)

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 184,134 184,134

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 184,134 184,134

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 184,134 184,134

10. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 August 2022 53,604 153,258 206,862
Profit for the year 6,585 6,585
At 31 July 2023 60,189 153,258 213,447

The Other Reserves are non-distributable, having arisen on the revaluation of the company's investment properties.

11. RELATED PARTY DISCLOSURES

TRANSACTIONS WITH COMPANIES UNDER COMMON CONTROL

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to companies under common control at the balance sheet date amounted to £1,425,176 (2022 - £1,340,728).

TRANSACTIONS WITH THE DIRECTOR

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to the director at the balance sheet date amounted to £30,040 (2022 - £30,040).

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LIBRA LAND LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Libra Land Limited for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Libra Land Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Libra Land Limited and state those matters that we have agreed to state to the director of Libra Land Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Libra Land Limited and its director for our work or for this report.

It is your duty to ensure that Libra Land Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Libra Land Limited. You consider that Libra Land Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Libra Land Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE


26 April 2024