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REGISTERED NUMBER: 06114241 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Leah Property Limited

Leah Property Limited (Registered number: 06114241)






Contents of the Financial Statements
for the year ended 31 August 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Leah Property Limited

Company Information
for the year ended 31 August 2023







DIRECTOR: B P McCafferty





REGISTERED OFFICE: The Haven
2c West Park
Cleadon Village
Tyne and Wear
SR6 7RR





REGISTERED NUMBER: 06114241 (England and Wales)





ACCOUNTANTS: TTR Barnes Limited
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

Leah Property Limited (Registered number: 06114241)

Statement of Financial Position
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,523 7,387
Investment property 5 3,073,994 3,073,994
3,079,517 3,081,381

CURRENT ASSETS
Debtors 6 801 1,360
Cash at bank and in hand 136,114 148,840
136,915 150,200
CREDITORS
Amounts falling due within one year 7 133,396 127,038
NET CURRENT ASSETS 3,519 23,162
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,083,036

3,104,543

CREDITORS
Amounts falling due after more than one
year

8

(18,333

)

(28,333

)

PROVISIONS FOR LIABILITIES (312,824 ) (313,549 )
NET ASSETS 2,751,879 2,762,661

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,751,779 2,762,561
SHAREHOLDERS' FUNDS 2,751,879 2,762,661

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

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

Leah Property Limited (Registered number: 06114241)

Statement of Financial Position - continued
31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 August 2024 and were signed by:





B P McCafferty - Director


Leah Property Limited (Registered number: 06114241)

Notes to the Financial Statements
for the year ended 31 August 2023

1. STATUTORY INFORMATION

Leah Property 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.

The accounts have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future, which the director considers appropriate.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions concluded at market rate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% Straight line

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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Leah Property Limited (Registered number: 06114241)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Other income
Other income represents net invoiced rental income, excluding value added tax.

Government grants
Government grants received in relation to tangible fixed assets, are treated as deferred credits and credited to the profit and loss account over the estimated useful life of the relevant fixed assets. Grants received in respect of revenue expenses are shown as income in the same period as the relevant expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 153,365
DEPRECIATION
At 1 September 2022 145,978
Charge for year 1,864
At 31 August 2023 147,842
NET BOOK VALUE
At 31 August 2023 5,523
At 31 August 2022 7,387

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 3,073,994
NET BOOK VALUE
At 31 August 2023 3,073,994
At 31 August 2022 3,073,994

The director believes the value of investment property represents its fair value as at 31 August 2023.

Leah Property Limited (Registered number: 06114241)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2017 1,644,344
Cost 1,429,650
3,073,994

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

2023 2022
£    £   
Cost 1,429,650 1,429,650

Investment property was valued on an open market basis basis on 31 August 2017 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 801 1,360

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 1,842 394
Taxation and social security 19,038 18,452
Other creditors 102,516 98,192
133,396 127,038

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,333 28,333