Company registration number 11543213 (England and Wales)
M LIBANO PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
M LIBANO PROPERTY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
M LIBANO PROPERTY LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
4
281,599
281,600
Current assets
Debtors
5
20,233
20,233
Cash at bank and in hand
34,872
34,872
55,105
55,105
Creditors: amounts falling due within one year
6
(111,001)
(111,002)
Net current liabilities
(55,896)
(55,897)
Total assets less current liabilities
225,703
225,703
Creditors: amounts falling due after more than one year
7
(143,689)
(143,689)
Provisions for liabilities
(5,339)
(5,339)
Net assets
76,675
76,675
Capital and reserves
Called up share capital
10
10
Revaluation reserve
8
28,100
28,100
Profit and loss reserves
48,565
48,565
Total equity
76,675
76,675

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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.

M LIBANO PROPERTY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2023
31 August 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 29 August 2024
Mr MG Pieri
Director
Company registration number 11543213 (England and Wales)
M LIBANO PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
1
Accounting policies
Company information

M Libano Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Church Plain, Great Yarmouth, Norfolk, England, NR30 1PL.

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 have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
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
- 33% straight line
1.3
Investment properties

Investment property, which is property held to earn rentals and/or 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.

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.5
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 1

2023
2022
Number
Number
Total
-
0
1
M LIBANO PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 and 31 August 2023
1,300
Depreciation and impairment
At 1 September 2022 and 31 August 2023
1,300
Carrying amount
At 31 August 2023
-
0
At 31 August 2022
-
0
4
Investment property
2023
£
Fair value
At 1 September 2022 and 31 August 2023
281,599

.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
20,233
20,233
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,983
1,983
Other creditors
109,018
109,019
111,001
111,002
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
143,689
143,689
M LIBANO PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 5 -
8
Revaluation reserve
2023
2022
£
£
At the beginning and end of the year
28,100
28,100
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