REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST SEPTEMBER 2022 TO 31ST MARCH 2023 |
FOR |
LIBERATION LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST SEPTEMBER 2022 TO 31ST MARCH 2023 |
FOR |
LIBERATION LIMITED |
LIBERATION LIMITED (REGISTERED NUMBER: 10334665) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1ST SEPTEMBER 2022 TO 31ST MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LIBERATION LIMITED |
COMPANY INFORMATION |
for the Period 1ST SEPTEMBER 2022 TO 31ST MARCH 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Monks Brook House |
13 - 17 Hursley Road |
Chandlers Ford |
Eastleigh |
Hampshire |
SO53 2FW |
LIBERATION LIMITED (REGISTERED NUMBER: 10334665) |
BALANCE SHEET |
31ST MARCH 2023 |
31.3.23 | 31.8.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings |
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. |
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 |
LIBERATION LIMITED (REGISTERED NUMBER: 10334665) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1ST SEPTEMBER 2022 TO 31ST MARCH 2023 |
1. | STATUTORY INFORMATION |
Liberation Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 period 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 period 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 period was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st September 2022 |
Disposals | ( |
) |
Revaluations | 4,000 |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st August 2022 |
LIBERATION LIMITED (REGISTERED NUMBER: 10334665) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1ST SEPTEMBER 2022 TO 31ST MARCH 2023 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 31st March 2023 is represented by: |
£ |
Valuation in 2019 | 155,303 |
Valuation in 2020 | 25,000 |
Valuation in 2021 | 212,869 |
Valuation in 2022 | 161,061 |
Valuation in 2023 | (291,445 | ) |
Cost | 1,211,212 |
1,474,000 |
If the investment properties had not been revalued they would have been included at the following historical cost: |
31.3.23 | 31.8.22 |
£ | £ |
Cost | 1,211,212 | 1,670,767 |
Aggregate depreciation | (151,077 | ) | (185,725 | ) |
The investment properties were valued on an open market basis basis on 31st March 2023 by the director of the company . |
5. | DEBTORS |
31.3.23 | 31.8.22 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by associates |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by associates |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.8.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors | ( |
) |
Amounts owed to associates | 180 | 180 |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.8.22 |
£ | £ |
Bank loans |
Amounts owed to associates | 726,131 | 1,123,631 |
Other creditors |
LIBERATION LIMITED (REGISTERED NUMBER: 10334665) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1ST SEPTEMBER 2022 TO 31ST MARCH 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31.3.23 | 31.8.22 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bounce back loan > 5yrs | 19,573 | 21,682 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.23 | 31.8.22 |
£ | £ |
Bank loans |
The bank loan is secured against selected investment properties and holds a floating charge on the company's assets generally. |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st September 2022 |
No description | (226,001 | ) |
At 31st March 2023 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31st March 2023 and the year ended 31st August 2022: |
31.3.23 | 31.8.22 |
£ | £ |
Balance outstanding at start of period | ( |
) |
Amounts advanced | ( |
) |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) | ( |
) |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is M D E Bayntun. |