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Registered Number: 12696633
England and Wales

 

 

 

LRJNCH LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 25 December 2022

End date: 24 December 2023
Directors Clifford Paul Hobbs
Necy De Nazare Da Costa Hobbs
Registered Number 12696633
Registered Office 12 Chapman Drive
Old Stratford
Milton Keynes
MK19 6NT
Accountants aa Chartered Accountants
Fenlake House,
Fenlake Business Centre,
Fengate,
Peterborough,
PE1 5BQ
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 24 December 2023
Principal activities
The companys principal activity during the period was that of letting and operating of owned or leased real estate.
Directors
The directors who served the company throughout the year were as follows:
Clifford Paul Hobbs
Necy De Nazare Da Costa Hobbs
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Clifford Paul Hobbs
Director

Date approved: 18 September 2024
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Lrjnch Limited for the year ended 24 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lrjnch Limited for the year ended 24 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Lrjnch Limited, as a body, in accordance with the terms of our engagement letter dated 18 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Lrjnch Limited and state those matters that we have agreed to state to the Board of Directors of Lrjnch Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lrjnch Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lrjnch Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lrjnch Limited. You consider that Lrjnch 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 accounts of Lrjnch 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 accounts
24 December 2023



....................................................
aa Chartered Accountants
Fenlake House,
Fenlake Business Centre,
Fengate,
Peterborough,
PE1 5BQ
18 September 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 874,969    859,999 
874,969    859,999 
Current assets      
Debtors 4 564    471 
Cash at bank and in hand 3,201    4,278 
3,765    4,749 
Creditors: amount falling due within one year 5 (196,674)   (225,771)
Net current assets (192,909)   (221,022)
 
Total assets less current liabilities 682,060    638,977 
Creditors: amount falling due after more than one year 6 (568,332)   (533,108)
Provisions for liabilities 7 (23,371)   (21,471)
Net assets 90,357    84,398 
 

Capital and reserves
     
Called up share capital 8 40    40 
Reserves 9 123,004    113,004 
Profit and loss account (32,687)   (28,646)
Shareholders' funds 90,357    84,398 
 


For the year ended 24 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 September 2024 and were signed on its behalf by:


-------------------------------
Clifford Paul Hobbs
Director
4
  Equity share capital   Revaluation reserve   Retained Earnings   Total
£ £ £ £
At 25 December 2021 (16,753) (16,753)
Profit for the year 101,111  101,111 
Revaluation of Fixed Assets 113,004  113,004 
Transfers to/from other reserves (113,004) (113,004)
Total comprehensive income for the year 113,004  (11,893) 101,111 
Shares issued 40  40 
Total investments by and distributions to owners 40  40 
At 24 December 2022 40  113,004  (28,646) 84,398 
At 25 December 2022 40  (28,646) (28,606)
Profit for the year 5,959  5,959 
Revaluation of Fixed Assets 123,004  123,004 
Transfers to/from other reserves (10,000) (10,000)
Total comprehensive income for the year 123,004  (4,041) 118,963 
Total investments by and distributions to owners
At 24 December 2023 40  123,004  (32,687) 90,357 
5
General Information
Lrjnch Limited is a private company, limited by shares, registered in England and Wales, registration number 12696633, registration address 12 Chapman Drive, Old Stratford , Milton Keynes, MK19 6NT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees including directors

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 25 December 2022 859,999    859,999 
Additions 4,970    4,970 
Disposals  
Revaluations 10,000    10,000 
At 24 December 2023 874,969    874,969 
Depreciation
At 25 December 2022  
Charge for year  
On disposals  
At 24 December 2023  
Net book values
Closing balance as at 24 December 2023 874,969    874,969 
Opening balance as at 25 December 2022 859,999    859,999 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 564    471 
564    471 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 1    (1)
Accrued Expenses 2,471   
Other Creditors 7,663    10,800 
Directors' Current Accounts 186,539    214,972 
196,674    225,771 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 568,332    533,108 
568,332    533,108 
All loans are secured against the property to which they relate.

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 23,371    21,471 
23,371    21,471 

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
10 Class A shares of £1.00 each 10    10 
10 Class B shares of £1.00 each 10    10 
10 Class C shares of £1.00 each 10    10 
10 Class D shares of £1.00 each 10    10 
40    40 

9.

Reserves

2023
£
  2022
£
Revaluation of Fixed Assets 123,004    113,004 
123,004    113,004 

10.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Faqshop Ltd3,137 7,663 10,800 

Faqshop Ltd is a company controlled by the same directors' and has loaned the company £7,663 (2022: £10,800) with an annual interest rate of 7.5% paid annually.
11.

Director’s loan

Directors loan

As at the balance sheet date the company owed the directors £186,539 (2022: £214,972). This loan is interest free and repayable on demand.
12.

Property Revlauation

The directors have made a director revaluation on the value of the properties using such tools as Rightmove and Zoolpa.
6