Registration number:
Letwell Commercial Ltd
for the Year Ended 30 June 2024
Letwell Commercial Ltd
(Registration number: 10553068)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
2 |
2 |
|
Profit and loss account |
38,586 |
39,774 |
|
Shareholders' funds |
38,588 |
39,776 |
For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the
.........................................
Director
Letwell Commercial Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Accounting policies |
Letwell Commercial Ltd is a private company, limited by shares, domiciled in England and Wales, company number 10553068. The registered office is at
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Revenue recognition
Turnover represents the invoiced value of rents received during the year.
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.
Letwell Commercial Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
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 |
Office equipment |
3 years straight line |
Investment property
No depreciation is provided in respect of the investment property. This treatment as regards the company's investment property may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, this property is not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Letwell Commercial Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Tangible assets |
Long leasehold land and buildings |
Office equipment |
Total |
|
Cost |
|||
At 1 July 2023 |
|
|
|
Additions |
- |
|
|
Disposals |
- |
( |
( |
At 30 June 2024 |
|
|
|
Depreciation |
|||
At 1 July 2023 |
- |
|
|
Charge for the year |
- |
|
|
Eliminated on disposal |
- |
( |
( |
At 30 June 2024 |
- |
|
|
Carrying amount |
|||
At 30 June 2024 |
|
|
|
At 30 June 2023 |
|
|
|
Debtors |
2024 |
2023 |
|
Prepayments |
|
- |
Other debtors |
|
- |
|
- |
Letwell Commercial Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Creditors |
2024 |
2023 |
||
Due within one year |
|||
Bank loans |
- |
132 |
|
Trade creditors |
|
- |
|
Directors' current accounts |
|
|
|
Social security and other taxes |
|
|
|
Due to related parties |
|
|
|
Accrued expenses |
|
|
|
Corporation tax |
- |
1,883 |
|
Other creditors |
|
- |
|
|
|