Loughshore Manor Properties Limited NI686414 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is letting property Digita Accounts Production Advanced 6.30.9574.0 true true NI686414 2023-04-01 2024-03-31 NI686414 2024-03-31 NI686414 bus:OrdinaryShareClass1 2024-03-31 NI686414 core:CurrentFinancialInstruments 2024-03-31 NI686414 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI686414 core:Non-currentFinancialInstruments 2024-03-31 NI686414 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI686414 bus:SmallEntities 2023-04-01 2024-03-31 NI686414 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI686414 bus:FilletedAccounts 2023-04-01 2024-03-31 NI686414 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI686414 bus:RegisteredOffice 2023-04-01 2024-03-31 NI686414 bus:Director1 2023-04-01 2024-03-31 NI686414 bus:Director2 2023-04-01 2024-03-31 NI686414 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 NI686414 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI686414 countries:NorthernIreland 2023-04-01 2024-03-31 NI686414 2023-03-31 NI686414 2022-03-08 2023-03-31 NI686414 2023-03-31 NI686414 bus:OrdinaryShareClass1 2023-03-31 NI686414 core:CurrentFinancialInstruments 2023-03-31 NI686414 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI686414 core:Non-currentFinancialInstruments 2023-03-31 NI686414 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI686414

Loughshore Manor Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Loughshore Manor Properties Limited

(Registration number: NI686414)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

731,500

731,500

Current assets

 

Debtors

5

33,075

-

Cash at bank and in hand

 

7,585

15,237

 

40,660

15,237

Creditors: Amounts falling due within one year

6

(7,480)

(7,113)

Net current assets

 

33,180

8,124

Total assets less current liabilities

 

764,680

739,624

Creditors: Amounts falling due after more than one year

6

(749,547)

(732,669)

Net assets

 

15,133

6,955

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

15,033

6,855

Shareholders' funds

 

15,133

6,955

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Loughshore Manor Properties Limited

(Registration number: NI686414)
Balance Sheet as at 31 March 2024

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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 September 2024 and signed on its behalf by:
 

.........................................
Mr Avinash Daulat Lalvani
Director

.........................................
Mr Amit Daulat Lalvani
Director

 

Loughshore Manor Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is: Unit 8 Antrim Business Park, 25 Randalstown Road, Antrim, Co Antrim, BT41 4LD.

These financial statements were authorised for issue by the Board on 6 September 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 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 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.

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.

 

Loughshore Manor Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Loughshore Manor Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Investment properties

2024
£

At 1 April

731,500

At 31 March

731,500

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

2023
£

Other debtors

33,075

-

 

33,075

-

 

Loughshore Manor Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,579

902

Taxation and social security

2,856

2,546

Accruals and deferred income

960

3,580

Other creditors

85

85

7,480

7,113

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

749,547

732,669