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REGISTERED NUMBER: 11489195 (England and Wales)













LTF Properties Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






LTF Properties Limited (Registered number: 11489195)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


LTF Properties Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: JM Samwells
CA Samwells





REGISTERED OFFICE: Little Tarrington Farm
Little Tarrington
Hereford
HR1 4JA





REGISTERED NUMBER: 11489195 (England and Wales)





ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
LTF Properties Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LTF Properties Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of LTF Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LTF Properties Limited and state those matters that we have agreed to state to the Board of Directors of LTF Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LTF Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that LTF Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LTF Properties Limited. You consider that LTF Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of LTF Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


20 September 2024

LTF Properties Limited (Registered number: 11489195)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,525,000 4,045,000

CURRENT ASSETS
Debtors 5 21,155 1,769
Cash at bank 51,002 61,517
72,157 63,286
CREDITORS
Amounts falling due within one year 6 1,541,243 1,575,951
NET CURRENT LIABILITIES (1,469,086 ) (1,512,665 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,055,914

2,532,335

CREDITORS
Amounts falling due after more than one
year

7

(16,477

)

(25,738

)

PROVISIONS FOR LIABILITIES 8 (720,638 ) (600,638 )
NET ASSETS 2,318,799 1,905,959

CAPITAL AND RESERVES
Allotted, issued and fully
paid share capital 200 200
Fair value reserve 2,161,915 1,801,915
Retained earnings 156,684 103,844
2,318,799 1,905,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

LTF Properties Limited (Registered number: 11489195)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





JM Samwells - Director


LTF Properties Limited (Registered number: 11489195)

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


1. STATUTORY INFORMATION

LTF Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. The company has net current liabilities due to loans due to directors and a business under common control. The directors have confirmed that they will not seek repayment of these if it would prejudice any other creditors. The directors therefore consider it appropriate to prepare financial statements on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Taxation
Taxation for the year 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 year 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.

3. EMPLOYEES

The average number of employees during the year was NIL (2022 - NIL).

LTF Properties Limited (Registered number: 11489195)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 4,045,000
Revaluations 480,000
At 31 December 2023 4,525,000
NET BOOK VALUE
At 31 December 2023 4,525,000
At 31 December 2022 4,045,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2020 674,425
Valuation in 2021 401,811
Valuation in 2022 1,326,317
Valuation in 2023 480,000
Cost 1,642,447
4,525,000

The Investment Property was revalued by the Directors and reflects its market value as at 31 December 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 21,155 1,769

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,138 10,734
Corporation tax 16,071 13,704
Other creditors 637,567 670,673
Directors' current accounts 872,667 876,815
Accruals and deferred income 4,800 4,025
1,541,243 1,575,951

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,250 10,111
Bank loans - 2-5 years 6,227 15,627
16,477 25,738

LTF Properties Limited (Registered number: 11489195)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Investment property valuation 720,638 600,638

Deferred
tax
£   
Balance at 1 January 2023 600,638
Investment property valuation 120,000
Balance at 31 December 2023 720,638

9. RELATED PARTY DISCLOSURES

Included in creditors are directors' current accounts of £872,667 (2022: £876,815). These are interest free and repayable on demand.

Included in other creditors are loans of £429,750 (2022: £39,750) from a company under common control and £207,817 (2022: £630,923) from a partnership in which the directors are partners. Both of these are interest free and repayable on demand.