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Company No: 14858915 (England and Wales)

LIFTONDOWN GARAGE HOLDINGS LTD

Unaudited Financial Statements
For the financial period from 10 May 2023 to 31 March 2024
Pages for filing with the registrar

LIFTONDOWN GARAGE HOLDINGS LTD

Unaudited Financial Statements

For the financial period from 10 May 2023 to 31 March 2024

Contents

LIFTONDOWN GARAGE HOLDINGS LTD

BALANCE SHEET

As at 31 March 2024
LIFTONDOWN GARAGE HOLDINGS LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Investments 3 600,100
600,100
Net current assets 0
Total assets less current liabilities 600,100
Net assets 600,100
Capital and reserves
Called-up share capital 4 149,125
Capital redemption reserve 450,975
Total shareholders' funds 600,100

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Liftondown Garage Holdings Ltd (registered number: 14858915) were approved and authorised for issue by the Director on 01 August 2024. They were signed on its behalf by:

Mr M Pike
Director
LIFTONDOWN GARAGE HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 10 May 2023 to 31 March 2024
LIFTONDOWN GARAGE HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 10 May 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Liftondown Garage Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ferndale, Liftondown, Lifton, PL16 0DA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

Period from
10.05.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 0

3. Fixed asset investments

Investments in subsidiaries

31.03.2024
£
Cost
At 10 May 2023 0
Additions 600,100
At 31 March 2024 600,100
Carrying value at 31 March 2024 600,100

4. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100
149,025 Redeemable preference shares shares of £ 1.00 each 149,025
149,125