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Registration number: 11973095

Lendlord Limited

Unaudited Filleted Abridged Financial Statements

for the Period from 1 November 2022 to 31 December 2023

 

Lendlord Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Lendlord Limited

Company Information

Director

Mr Betzalel Arieh Zucker

Registered office

Churchill House
137-139 Brent Street
London
NW4 4DJ

Accountants

Jani Taylor Associates Limited
7 Marsh Close
Mill Hill
London
NW7 4NY

 

Lendlord Limited

(Registration number: 11973095)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

650

918

Current assets

 

Debtors

6,998,129

3,651,555

Cash at bank and in hand

 

42,181

345,101

 

7,040,310

3,996,656

Creditors: Amounts falling due within one year

(6,061,044)

(2,886,856)

Net current assets

 

979,266

1,109,800

Total assets less current liabilities

 

979,916

1,110,718

Creditors: Amounts falling due after more than one year

(957,550)

(1,088,661)

Accruals and deferred income

 

(780)

(4,320)

Net assets

 

21,586

17,737

Capital and reserves

 

Called up share capital

5

1

1

Retained earnings

21,585

17,736

Shareholders' funds

 

21,586

17,737

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Lendlord Limited

(Registration number: 11973095)
Abridged Balance Sheet as at 31 December 2023

Approved and authorised by the director on 28 August 2024
 

.........................................
Mr Betzalel Arieh Zucker
Director

 

Lendlord Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Churchill House
137-139 Brent Street
London
NW4 4DJ
United Kingdom

These financial statements were authorised for issue by the director on 28 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Lendlord Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2022 to 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for loans outstanding and interest accrued in the ordinary course of business and in accordance with contractual obligations of the debtors.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Lendlord Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2022 to 31 December 2023

Trade creditors

Trade creditors are obligations to pay for outstanding loans or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

 

Lendlord Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2022 to 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

1,224

1,224

At 31 December 2023

1,224

1,224

Depreciation

At 1 November 2022

306

306

Charge for the period

268

268

At 31 December 2023

574

574

Carrying amount

At 31 December 2023

650

650

At 31 October 2022

918

918

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share capital of £1 each

1

1

1

1

       

6

Related party transactions

Summary of transactions with parent

 

Lendlord Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2022 to 31 December 2023

The company is a wholly owned subsidiary of Ex-Four Solutions Ltd, a company incorporated in Israel. During the financial period, the company entered into the following related party transactions with its parent company:

1. Loan from Parent Company:
The company received a loan from Ex-Four Solutions Ltd. The loan is repayable and is subject to interest, which has
been accrued for the period. The balance of the loan at the period end was £957,549.

2. Management Charges:
The company incurred management charges amounting to £409,341 during the financial period, payable to Ex-Four
Solutions Ltd. These charges were for provision of proprietary software - SaaS, by the parent company, in
accordance with the agreement dated 02 February 2023 (effective from 01 January 2022). The pricing of these
services was determined in accordance with the arm's length principle, in line with transfer pricing requirements.

3. Services Rendered:
The parent company provided services relating to provision of service platform and all support services, which are
integral to the company’s operations. The rationale behind these transactions is to support the company’s core
activities, ensuring efficient and effective operation within the group structure.

These transactions were conducted on normal commercial terms.
 

Expenditure with and payables to related parties

2023

Parent
£

Transfers under licence agreements

409,341

Transfers under finance arrangements (including loans and equity contributions)

44,859

454,200

Loans from related parties

2023

Parent
£

Key management
£

Total
£

At start of period

960,215

99,746

1,059,961

Advanced

-

59,173

59,173

Repaid

(2,666)

-

(2,666)

At end of period

957,549

158,919

1,116,468

2022

Parent
£

Key management
£

Total
£

Advanced

960,215

99,746

1,059,961

At end of period

960,215

99,746

1,059,961

Terms of loans from related parties

 

Lendlord Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 November 2022 to 31 December 2023

Loan advanced by Ex-Four Solutions Ltd, the parent company. Interest on the loan has been accrued for the period.
 
Loan from Mr Aviram Shahar, a person with significant control. Interest has been accrued on the loan.

 

7

Parent and ultimate parent undertaking

The company's immediate parent is Ex-Four Solutions Limited, incorporated in Israel.