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REGISTERED NUMBER: 02531151 (England and Wales)















Lorenzo Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Lorenzo Limited (Registered number: 02531151)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lorenzo Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: A Aggarwal





REGISTERED OFFICE: 5 London Road
Rainham
Gillingham
Kent
ME8 7RG





REGISTERED NUMBER: 02531151 (England and Wales)

Lorenzo Limited (Registered number: 02531151)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,600,000 1,600,000

CURRENT ASSETS
Debtors 5 5,758 6,152
Cash at bank 345,413 281,498
351,171 287,650
CREDITORS
Amounts falling due within one year 6 27,451 18,836
NET CURRENT ASSETS 323,720 268,814
TOTAL ASSETS LESS CURRENT LIABILITIES 1,923,720 1,868,814

PROVISIONS FOR LIABILITIES 160,864 160,864
NET ASSETS 1,762,856 1,707,950

CAPITAL AND RESERVES
Called up share capital 48,000 48,000
Fair value reserve 899,674 899,674
Retained earnings 815,182 760,276
SHAREHOLDERS' FUNDS 1,762,856 1,707,950

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

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

Lorenzo Limited (Registered number: 02531151)

Statement of Financial Position - continued
31 December 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 director and authorised for issue on 11 March 2024 and were signed by:





A Aggarwal - Director


Lorenzo Limited (Registered number: 02531151)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Lorenzo 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Income recognition
Turnover represents rents receivable.

Investment property
Investment property is included at fair value. Gains are recognised in the income statement and shown in a fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2022 - NIL).

Lorenzo Limited (Registered number: 02531151)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,600,000
NET BOOK VALUE
At 31 December 2023 1,600,000
At 31 December 2022 1,600,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 1,600,000

Investment properties were valued on an open market basis on 31 December 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,758 6,152

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 14,223 12,849
Other creditors 13,228 5,987
27,451 18,836