REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 6 April 2023 to 20 June 2024 |
for |
LOGATELLA INVESTMENTS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 6 April 2023 to 20 June 2024 |
for |
LOGATELLA INVESTMENTS LIMITED |
LOGATELLA INVESTMENTS LIMITED (REGISTERED NUMBER: 00759951) |
Contents of the Financial Statements |
for the period 6 April 2023 to 20 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LOGATELLA INVESTMENTS LIMITED |
Company Information |
for the period 6 April 2023 to 20 June 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
LOGATELLA INVESTMENTS LIMITED (REGISTERED NUMBER: 00759951) |
Balance Sheet |
20 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 7 |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings | 9 |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
LOGATELLA INVESTMENTS LIMITED (REGISTERED NUMBER: 00759951) |
Notes to the Financial Statements |
for the period 6 April 2023 to 20 June 2024 |
1. | Statutory information |
Logatella Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income from property. |
Investment property |
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. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
LOGATELLA INVESTMENTS LIMITED (REGISTERED NUMBER: 00759951) |
Notes to the Financial Statements - continued |
for the period 6 April 2023 to 20 June 2024 |
2. | Accounting policies - continued |
Going concern |
The Board has decided to cease operations and undertake a formal liquidation process in order to dissolve the company in due course. Consequently, the accounts have been prepared on a basis other than that of a going concern. |
Accounting period |
The company presents its accounts for the period 6 April 2023 to 20 June 2024, and thus the accounts span a period more than twelve months. The prior year accounts span a period of twelve months. |
3. | Employees and directors |
The average number of employees during the period was |
4. | Investment property |
Total |
£ |
Fair value |
At 6 April 2023 |
Revaluations | 5,000 |
At 20 June 2024 |
Net book value |
At 20 June 2024 |
At 5 April 2023 |
Fair value at 20 June 2024 is represented by: |
£ |
Valuation in 2014 | 1,395,000 |
Valuation in 2015 | 65,000 |
Valuation in 2016 | 65,000 |
Valuation in 2017 | 90,000 |
Valuation in 2018 | 152,000 |
Valuation in 2019 | (232,000 | ) |
Valuation in 2022 | (1,185,000 | ) |
Valuation in 2023 | (25,000 | ) |
Valuation in 2024 | 5,000 |
330,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 73,980 | 73,980 |
Investment property was valued on an open market basis on 5 April 2024 by the directors . |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other debtors |
LOGATELLA INVESTMENTS LIMITED (REGISTERED NUMBER: 00759951) |
Notes to the Financial Statements - continued |
for the period 6 April 2023 to 20 June 2024 |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax | 64,005 | 62,755 |
Deferred |
tax |
£ |
Balance at 6 April 2023 |
Provided during period |
Balance at 20 June 2024 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | Reserves |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 6 April 2023 | 1,603,529 |
Profit for the period |
Dividends | ( |
) | ( |
) |
At 20 June 2024 | 1,566,063 |