Company registration number 10467656 (England and Wales)
LOGS HILL HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LOGS HILL HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
LOGS HILL HOLDINGS LIMITED (REGISTERED NUMBER: 10467656)
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
918
1,224
Investment property
4
1,681,688
1,097,716
1,682,606
1,098,940
Current assets
Debtors
5
1,024
500
Cash at bank and in hand
6,409
55,193
7,433
55,693
Creditors: amounts falling due within one year
6
(711,987)
(590,913)
Net current liabilities
(704,554)
(535,220)
Total assets less current liabilities
978,052
563,720
Creditors: amounts falling due after more than one year
7
(1,000,222)
(612,224)
Net liabilities
(22,170)
(48,504)
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
8
78,160
21,675
Distributable profit and loss reserves
(100,430)
(70,279)
Total equity
(22,170)
(48,504)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
LOGS HILL HOLDINGS LIMITED (REGISTERED NUMBER: 10467656)
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 13 August 2024 and are signed on its behalf by:
Mrs A Kochhar
Director
LOGS HILL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information
Logs Hill Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor (Right) Downe House, 303 High Street, Orpington, Kent, England, BR6 0NN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents rental income receivable in the year.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Investment property
Investment property, which is property held to earn rentals and for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.6
Taxation
The tax expense represents deferred tax.
LOGS HILL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 December 2022 and 30 November 2023
1,864
Depreciation and impairment
At 1 December 2022
640
Depreciation charged in the year
306
At 30 November 2023
946
Carrying amount
At 30 November 2023
918
At 30 November 2022
1,224
4
Investment property
2023
£
Fair value
At 1 December 2022
1,097,716
Additions
532,572
Revaluations
51,400
At 30 November 2023
1,681,688
Investment property comprises £1,681,688. The fair value of the investment property has been arrived
at on the basis of a valuation carried out by the directors of the company. The valuation was made
on an open market value basis by reference to market evidence of transaction prices for similar
properties.
LOGS HILL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,024
500
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
711,987
590,913
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,000,222
612,224
The bank loan is secured by way of a fixed and negative pledge charge, which covers all the property or undertakings of the company.
8
Non-distributable profits reserve
2023
2022
£
£
At the beginning of the year
21,675
44,999
Non distributable profits in the year
56,485
(23,324)
At the end of the year
78,160
21,675