Letwell Commercial Ltd 10553068 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is letting of property Digita Accounts Production Advanced 6.30.9574.0 true true 10553068 2023-07-01 2024-06-30 10553068 2024-06-30 10553068 core:CurrentFinancialInstruments 2024-06-30 10553068 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10553068 core:LandBuildings core:LongLeaseholdAssets 2024-06-30 10553068 core:OfficeEquipment 2024-06-30 10553068 bus:SmallEntities 2023-07-01 2024-06-30 10553068 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10553068 bus:FullAccounts 2023-07-01 2024-06-30 10553068 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10553068 bus:RegisteredOffice 2023-07-01 2024-06-30 10553068 bus:Director2 2023-07-01 2024-06-30 10553068 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10553068 core:LandBuildings core:LongLeaseholdAssets 2023-07-01 2024-06-30 10553068 core:OfficeEquipment 2023-07-01 2024-06-30 10553068 countries:England 2023-07-01 2024-06-30 10553068 2023-06-30 10553068 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 10553068 core:OfficeEquipment 2023-06-30 10553068 2022-07-01 2023-06-30 10553068 2023-06-30 10553068 core:CurrentFinancialInstruments 2023-06-30 10553068 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10553068 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 10553068 core:OfficeEquipment 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 10553068

Letwell Commercial Ltd

Unaudited Financial Statements

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

3

165,720

164,989

Current assets

 

Debtors

4

646

-

Cash at bank and in hand

 

1,761

2,799

 

2,407

2,799

Creditors: Amounts falling due within one year

5

(129,539)

(128,012)

Net current liabilities

 

(127,132)

(125,213)

Net assets

 

38,588

39,776

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 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.

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 Board on 13 September 2024 and signed on its behalf by:
 

.........................................

Mr G Rogers
Director

 

Letwell Commercial Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

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 Armstrong House, First Avenue, Auckley, Doncaster, DN9 3RH.

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

The company property is held for long-term investment. Investment property is accounted for in accordance with FRS 102 as follows:-

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.

2

Staff numbers

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

 

Letwell Commercial Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Tangible assets

Long leasehold land and buildings
£

Office equipment
£

Total
£

Cost

At 1 July 2023

163,012

6,002

169,014

Additions

-

2,042

2,042

Disposals

-

(1,531)

(1,531)

At 30 June 2024

163,012

6,513

169,525

Depreciation

At 1 July 2023

-

4,025

4,025

Charge for the year

-

1,196

1,196

Eliminated on disposal

-

(1,416)

(1,416)

At 30 June 2024

-

3,805

3,805

Carrying amount

At 30 June 2024

163,012

2,708

165,720

At 30 June 2023

163,012

1,977

164,989

4

Debtors

2024
£

2023
£

Prepayments

196

-

Other debtors

450

-

646

-

 

Letwell Commercial Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Creditors

2024
 £

2023
 £

Due within one year

 

Bank loans

 

-

132

Trade creditors

 

738

-

Directors' current accounts

13,498

45,498

Social security and other taxes

 

131

634

Due to related parties

 

109,000

79,000

Accrued expenses

 

952

865

Corporation tax

-

1,883

Other creditors

 

5,220

-

 

129,539

128,012