Company Registration No. 6073923 (England and Wales)
Liberty Projects Limited
Unaudited accounts
for the year ended 31 January 2024
Liberty Projects Limited
Unaudited accounts
Contents
Liberty Projects Limited
Company Information
for the year ended 31 January 2024
Company Number
6073923 (England and Wales)
Registered Office
73 Warrington Road
Warrington
WA5 2DG
United Kingdom
Accountants
Accountancy Value Ltd
47 Manston Road, Penketh
Warrington
Cheshire
WA5 2HS
Liberty Projects Limited
Statement of financial position
as at 31 January 2024
Tangible assets
1,649
2,212
Investment property
667,410
667,410
Cash at bank and in hand
198
1,220
Creditors: amounts falling due within one year
(73,084)
(104,096)
Net current liabilities
(72,886)
(102,876)
Total assets less current liabilities
596,173
566,746
Creditors: amounts falling due after more than one year
(499,836)
(505,961)
Provisions for liabilities
Called up share capital
100
100
Revaluation reserve
4,460
4,460
Profit and loss account
91,660
56,108
Shareholders' funds
96,220
60,668
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 June 2024 and were signed on its behalf by
J S Ratcliffe
Director
Company Registration No. 6073923
Liberty Projects Limited
Notes to the Accounts
for the year ended 31 January 2024
Liberty Projects Limited is a private company, limited by shares, registered in England and Wales, registration number 6073923. The registered office is 73 Warrington Road, Warrington, WA5 2DG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Investment property is recorded at fair value at each reporting date with fair value gains and losses being recorded in the profit and loss account. Deferred tax consequences in respect of fair value adjustments on investment property are also recorded in profit and loss account. Gains, net of deferred tax, are non-distributable
to the shareholders and are presented in a separate component of equity in the balance sheet.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% on cost
Computer equipment
33% on cost
Liberty Projects Limited
Notes to the Accounts
for the year ended 31 January 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2023
3,749
4,633
8,382
At 31 January 2024
3,749
4,633
8,382
At 1 February 2023
1,537
4,633
6,170
Charge for the year
563
-
563
At 31 January 2024
2,100
4,633
6,733
At 31 January 2024
1,649
-
1,649
At 31 January 2023
2,212
-
2,212
Fair value at 1 February 2023
667,410
At 31 January 2024
667,410
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
12,277
45,460
Taxes and social security
5,626
-
Other creditors
19,064
19,619
Loans from directors
35,617
38,517
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
499,836
505,961
8
Transactions with related parties
There is an amount in other creditors of £8,670 (2023: £8,670) which is owed to a related party.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).