Lizan Investments Limited 02603763 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a property developer and the provider of management services. Digita Accounts Production Advanced 6.30.9574.0 true 02603763 2023-01-01 2023-12-31 02603763 2023-12-31 02603763 core:RetainedEarningsAccumulatedLosses 2023-12-31 02603763 core:ShareCapital 2023-12-31 02603763 core:CurrentFinancialInstruments 2023-12-31 02603763 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02603763 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 02603763 core:PlantMachinery 2023-12-31 02603763 bus:SmallEntities 2023-01-01 2023-12-31 02603763 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02603763 bus:FullAccounts 2023-01-01 2023-12-31 02603763 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02603763 bus:Director2 2023-01-01 2023-12-31 02603763 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02603763 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02603763 core:MotorVehicles 2023-01-01 2023-12-31 02603763 core:PlantMachinery 2023-01-01 2023-12-31 02603763 countries:AllCountries 2023-01-01 2023-12-31 02603763 2022-12-31 02603763 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 02603763 core:PlantMachinery 2022-12-31 02603763 2022-01-01 2022-12-31 02603763 2022-12-31 02603763 core:RetainedEarningsAccumulatedLosses 2022-12-31 02603763 core:ShareCapital 2022-12-31 02603763 core:CurrentFinancialInstruments 2022-12-31 02603763 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02603763 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 02603763 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 02603763

Lizan Investments Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Lizan Investments Limited

(Registration number: 02603763)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,828,534

1,438,456

Current assets

 

Debtors

6

30,318

30,653

Cash at bank and in hand

 

395,455

834,908

 

425,773

865,561

Creditors: Amounts falling due within one year

7

(1,004,931)

(1,018,914)

Net current liabilities

 

(579,158)

(153,353)

Net assets

 

1,249,376

1,285,103

Capital and reserves

 

Called up share capital

96

96

Profit and loss account

1,249,280

1,285,007

Shareholders' funds

 

1,249,376

1,285,103

For the financial year 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 year in question in accordance with section 476; and

The director acknowledges 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 Director's Report and 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 on 11 September 2024
 

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

J K Dashper
Director

 

Lizan Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

Accounting policies

Statutory information

Lizan Investments Limited is a private company, limited by shares, domiciled in England and Wales, company number 02603763. The registered office is at The Grange, Todwick Grange, Worksop Road, Sheffield, S26 1JQ.

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.

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.

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 statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Plant and machinery

25% straight line

Motor vehicles

25% straight line

 

Lizan Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

1

Accounting policies (continued)

Investment property

Investment properties are initially recognised at purchase price plus any directly attributable costs. Measurement after initial recognition should be at fair value if that value can be measured reliably without undue cost or effort. Changes in fair value are recognised in the accumulated profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

 

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 3).

 

Lizan Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

3

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

163

12,719

Profit on disposal of tangible fixed assets

-

(11,902)

Profit on disposal of investment properties

-

(68,050)

4

Tangible assets

Investment properties
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

1,438,456

48,894

1,487,350

Revaluations

(30,000)

-

(30,000)

Additions

419,531

710

420,241

At 31 December 2023

1,827,987

49,604

1,877,591

Depreciation

At 1 January 2023

-

48,894

48,894

Charge for the year

-

163

163

At 31 December 2023

-

49,057

49,057

Carrying amount

At 31 December 2023

1,827,987

547

1,828,534

At 31 December 2022

1,438,456

-

1,438,456

5

Investment properties

The investment properties class of fixed assets were revalued by the directors on 31 December 2023. The basis of this valuation was existing use basis. This class of assets has a current value of £1,827,987 (2022: £1,438,456) and a carrying amount at historical cost of £2,185,259 (2022: £1,765,728). The depreciation on this historical cost is £Nil (2022: £Nil).

 

Lizan Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Debtors

2023
£

2022
£

Prepayments

5,445

5,810

Other debtors

24,873

24,843

30,318

30,653

7

Creditors

2023
£

2022
£

Due within one year

Trade creditors

46,403

7,550

Taxation and social security

1,216

1,123

Accruals and deferred income

12,312

15,234

Director's current account

650,000

668,727

Other creditors

295,000

326,280

1,004,931

1,018,914

8

Related party transactions

Transactions with directors

The director's current account of £650,000 (2022: £668,727) is interest free. The other creditors of £295,000 (2022: £326,280) are loans from Mr and Mrs Dashper and are also interest free.