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REGISTERED NUMBER: 02359877














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

L.E.L. (PROPERTIES) LIMITED

L.E.L. (PROPERTIES) LIMITED (REGISTERED NUMBER: 02359877)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L.E.L. (PROPERTIES) LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J.L. Winslade
K. Tilley
N. Clark





SECRETARY: Mrs K. Tilley





REGISTERED OFFICE: Vale Business Park
Llandow
Vale of Glamorgan
CF71 7PF





REGISTERED NUMBER: 02359877





ACCOUNTANTS: Hayvenhursts Accountancy
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT

L.E.L. (PROPERTIES) LIMITED (REGISTERED NUMBER: 02359877)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,767,364 1,767,348

CURRENT ASSETS
Debtors 5 118,592 138,180
Cash at bank 834,589 792,244
953,181 930,424
CREDITORS
Amounts falling due within one year 6 (61,152 ) (80,332 )
NET CURRENT ASSETS 892,029 850,092
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,659,393

2,617,440

CREDITORS
Amounts falling due after more than
one year

7

(47,430

)

(48,960

)
NET ASSETS 2,611,963 2,568,480

CAPITAL AND RESERVES
Called up share capital 8 1,050 1,050
Retained earnings 9 2,610,913 2,567,430
SHAREHOLDERS' FUNDS 2,611,963 2,568,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

L.E.L. (PROPERTIES) LIMITED (REGISTERED NUMBER: 02359877)

Balance Sheet - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





J.L. Winslade - Director


L.E.L. (PROPERTIES) LIMITED (REGISTERED NUMBER: 02359877)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

L.E.L. (Properties) Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Turnover
Turnover represents income from the renting of land and buildings, stated net of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

No depreciation is provided in respect of land and buildings which is not in accordance with FRS No 15 'Tangible Fixed Assets'. The directors are of the opinion that the open market valuation of the company's land and buildings is in excess of their original cost. In the absence of a professional valuation the directors are are unable to quantify the excess. In the opinion of the directors there has been no impairment in relation to the company's land and buildings during the year.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

L.E.L. (PROPERTIES) LIMITED (REGISTERED NUMBER: 02359877)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grants
Capital grants are credited to deferred income and released to income in accordance with the depreciation policy of the asset involved.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2023 2,149,189 41,810 2,190,999
Additions - 1,330 1,330
At 31 March 2024 2,149,189 43,140 2,192,329
DEPRECIATION
At 1 April 2023 386,433 37,218 423,651
Charge for year - 1,314 1,314
At 31 March 2024 386,433 38,532 424,965
NET BOOK VALUE
At 31 March 2024 1,762,756 4,608 1,767,364
At 31 March 2023 1,762,756 4,592 1,767,348

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 118,592 138,180

L.E.L. (PROPERTIES) LIMITED (REGISTERED NUMBER: 02359877)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors and accruals 22,676 12,239
Tax 13,064 38,383
Social security and other taxes 23,882 28,180
Deferred income 1,530 1,530
61,152 80,332

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Deferred income
more than 5 years 41,310 42,840
Deferred income
2 - 5 years 6,120 6,120
47,430 48,960

Amounts falling due in more than five years:

Repayable by instalments
Deferred income
more than 5 years 41,310 42,840
41,310 42,840

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,050 Ordinary £1 1,050 1,050

9. RESERVES
Retained
earnings
£   

At 1 April 2023 2,567,430
Profit for the year 43,483
At 31 March 2024 2,610,913

L.E.L. (PROPERTIES) LIMITED (REGISTERED NUMBER: 02359877)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. ULTIMATE CONTROLLING PARTY

Directors own 95% of the issued share capital.