Registered number
14460564
Lillie Investments Leasing Limited
Filleted Accounts
31 March 2024
Lillie Investments Leasing Limited
Registered number: 14460564
Balance Sheet
as at 31 March 2024
Notes 2024
£
Partnership interests 3 514,649
Current assets
Cash at bank and in hand 7,487
Creditors: amounts falling due within one year 6 (10,113)
Net current liabilities (2,626)
Total assets less current liabilities 512,023
Creditors: amounts falling due after more than one year 7 (450,000)
Net assets 62,023
Capital and reserves
Called up share capital 500
Share premium 49,500
Profit and loss account 12,023
Shareholders' funds 62,023
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Ann Chapman-Daniel
Director
Approved by the board on 25 July 2024
Lillie Investments Leasing Limited
Notes to the Accounts
for the period from 3 November 2022 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Income
Income is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Income comprises the company’s share of partnership profits.
Partnership interests
The interest in Triple Point Lease Partners (TPLP) and Generations Navigator LLP (GN) comprises the equity subscribed less initial profit shares plus profit shares declared by TPLP and GN and less any amounts withdrawn by the company.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it excludes items that are never taxable or deductible. The company’s liability for the current year is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024
Number
Average number of persons employed by the company 2
The company had no employees durng the period other than directors.
3 Partnership interests 2024
£
Introduced in period 490,000
Profit in period 36,899
Withdrawn/ Costs in period (12,250)
514,649
4 Partnership interest in Triple Point Lease Partners 2024
£
Introduced in period 245,000
Profit in period 13,889
Withdrawn/ Costs in period (6,125)
252,764
5 Partnership interest in Generations Navigator LLP 2024
£
Introduced in period 245,000
Profit in period 23,010
Withdrawn/ Costs in period (6,125)
261,885
6 Creditors: amounts falling due within one year 2024
£
Trade creditors 888
Corporation tax 9,225
10,113
7 Creditors: amounts falling due after one year 2024
£
Loan notes 450,000
8 Related party transactions
At the reporting date, the company owed the Ann Chapman-Daniel & Ophir Daniel £450,000. No interest was charged on the loan during the year.
9 Controlling party
Ann Chapman-Daniel & Ophir Daniel are the ultimate controlling parties by virtue of their 50% shareholdings.
# Other information
Lillie Investments Leasing Limited is a private company limited by shares and incorporated in England. Its registered office is:
250 Fowler Avenue
Farnborough
Hampshire
England
GU14 7JP
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