Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01tbctruefalse22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09044697 2023-04-01 2024-03-31 09044697 2022-04-01 2023-03-31 09044697 2024-03-31 09044697 2023-03-31 09044697 c:Director1 2023-04-01 2024-03-31 09044697 d:CurrentFinancialInstruments 2024-03-31 09044697 d:CurrentFinancialInstruments 2023-03-31 09044697 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09044697 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09044697 d:ShareCapital 2024-03-31 09044697 d:ShareCapital 2023-03-31 09044697 d:RetainedEarningsAccumulatedLosses 2024-03-31 09044697 d:RetainedEarningsAccumulatedLosses 2023-03-31 09044697 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09044697 c:OrdinaryShareClass1 2024-03-31 09044697 c:OrdinaryShareClass1 2023-03-31 09044697 c:FRS102 2023-04-01 2024-03-31 09044697 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09044697 c:FullAccounts 2023-04-01 2024-03-31 09044697 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09044697 6 2023-04-01 2024-03-31 09044697 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09044697














LVLT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
LVLT LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 5


 
LVLT LIMITED
REGISTERED NUMBER:09044697

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,177,246
1,570,113

Current assets
  

Stocks
  
300,807
300,807

Debtors: amounts falling due within one year
 5 
2,024
711

Cash at bank and in hand
  
97,448
500

  
400,279
302,018

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(1,606,056)
(1,777,303)

Net current liabilities
  
 
 
(1,205,777)
 
 
(1,475,285)

  

Net (liabilities)/assets
  
(28,531)
94,828


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(28,631)
94,728

  
(28,531)
94,828


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
LVLT LIMITED
REGISTERED NUMBER:09044697
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 August 2024.




L Khalastchi
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
LVLT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

LVLT Ltd is a private limited liability company incorporated in England and Wales. Its registered office is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, United Kingdom, WD6 1JD; its business address is at Whiteladies Park, Prince Albert Drive, Ascot, SL5 8AQ
The principal activity of the Company is that of property development.
The Company's functional and presentational currency is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

In the opinion of the directors the parent company will continue to provide such finance as may be required to enable the Company to meet its financial liabilities as they fall due and for at least twelve months from the date of their approval of these financial statements. On this basis the directors consider it appropriate to adopt the going concern basis in preparing the financial statements.

 
2.3

Turnover

Turnover comprises revenue recognised by the Company in respect development property sales, exclusive of Value Added Tax.
Development property sales are recognised at the date of exchange of contracts. If completion is conditional upon an external event the sale is recognised at the time the transaction becomes unconditional.

 
2.4

Valuation of investments

The company's investment in a Limited Liability Partnership ("LLP") is stated at the cost of the  company's capital investment adjusted for its share of the LLP's subsequent profits and losses less any capital repayments. The company's share of profits and losses realised by the LLP is recognised in the Statement of Comprehensive Income within investment income. Provision is made for any impairment in the value of the company's share of the LLP.

 
2.5

Stocks

Stocks and work in progress represent development property valued at the lower of cost and net realisable value. Cost for this purpose comprises the original purchase of land and buildings, development expenditure and overheads.
In considering the net realisable value of land and properties it is assumed that developments will be completed and sold in the ordinary course of the Company's business and that they would not be placed on the market for immediate sale.

Page 3

 
LVLT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.7

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Other fixed asset investments

£



Valuation


At 1 April 2023
1,570,113


Distribution for year
(287,600)


Share of fair value movements
(161,846)


Share of profits and losses
56,579



At 31 March 2024
1,177,246





5.


Debtors

2024
2023
£
£


Other debtors
2,024
711


Page 4

 
LVLT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
10,000
60

Amounts owed to group undertakings
1,593,056
1,774,243

Accruals and deferred income
3,000
3,000

1,606,056
1,777,303



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



8.


Related party transactions

During the year, the Company paid consultancy fees of £10,000 (2023 - £Nil) to a director. At the year end, the Company owed £10,000 (2023 - £Nil) to that director included in trade creditors.


9.


Controlling party

The Company is a wholly-owned subsidiary of Power Investments Holdings Ltd, a company registered in England and Wales, which the directors regard as the ultimate parent undertaking.

 
Page 5