IRIS Accounts Productionv24.2.0.38303794237Board of Directors1.1.2331.12.2331.12.23falsetruefalsefalsetruefalse iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037942372022-12-31037942372023-12-31037942372023-01-012023-12-31037942372021-12-31037942372022-01-012022-12-31037942372022-12-3103794237ns15:EnglandWales2023-01-012023-12-3103794237ns14:PoundSterling2023-01-012023-12-3103794237ns10:Director12023-01-012023-12-3103794237ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103794237ns10:SmallEntities2023-01-012023-12-3103794237ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3103794237ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103794237ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103794237ns10:FullAccounts2023-01-012023-12-3103794237ns5:JointVenture12023-01-012023-12-3103794237ns10:Director22023-01-012023-12-3103794237ns10:Director32023-01-012023-12-3103794237ns10:Director42023-01-012023-12-3103794237ns10:Director52023-01-012023-12-3103794237ns10:Director62023-01-012023-12-3103794237ns10:CompanySecretary12023-01-012023-12-3103794237ns10:RegisteredOffice2023-01-012023-12-3103794237ns5:CurrentFinancialInstruments2023-12-3103794237ns5:CurrentFinancialInstruments2022-12-3103794237ns5:Non-currentFinancialInstruments2023-12-3103794237ns5:Non-currentFinancialInstruments2022-12-3103794237ns5:ShareCapital2023-12-3103794237ns5:ShareCapital2022-12-3103794237ns5:RevaluationReserve2023-12-3103794237ns5:RevaluationReserve2022-12-3103794237ns5:RetainedEarningsAccumulatedLosses2023-12-3103794237ns5:RetainedEarningsAccumulatedLosses2022-12-3103794237ns5:LandBuildings2022-12-3103794237ns5:LandBuildings2023-01-012023-12-3103794237ns5:LandBuildings2023-12-3103794237ns5:LandBuildings2022-12-3103794237ns5:CostValuation2022-12-3103794237ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3103794237ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3103794237ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3103794237ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-3103794237ns5:Secured2023-12-3103794237ns5:Secured2022-12-3103794237ns5:RevaluationReserve2022-12-31

REGISTERED NUMBER: 03794237 (England and Wales)






UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


FOR



LURBECK PROPERTIES LIMITED


LURBECK PROPERTIES LIMITED (REGISTERED NUMBER: 03794237)


CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023











Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

4




LURBECK PROPERTIES LIMITED


COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2023









DIRECTORS:

A.D Kinnear


Mrs E.M.H Kinnear


B J H Kinnear


S J D Kinnear


J A C Kinnear


J I M Kinnear





SECRETARY:

Mrs E.M.H Kinnear





REGISTERED OFFICE:

Orchard Park Farm


Lurgashall


Petworth


West Sussex


GU28 9EU





REGISTERED NUMBER:

03794237 (England and Wales)





ACCOUNTANTS:

Martin and Company


25 St Thomas Street


Winchester


Hampshire


SO23 9HJ





BANKERS:

Starling Bank


3rd Floor


2 Finsbury Avenue


London


EC2M 2PP


LURBECK PROPERTIES LIMITED (REGISTERED NUMBER: 03794237)


BALANCE SHEET

31 DECEMBER 2023



31.12.23

31.12.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

11,507,467


11,507,011



Investments

5

-


-



11,507,467


11,507,011




CURRENT ASSETS

Debtors

6

42,484


44,938



Cash at bank

65,886


19,180



108,370


64,118



CREDITORS

Amounts falling due within one year

7

1,153,610


1,138,492



NET CURRENT LIABILITIES

(1,045,240

)

(1,074,374

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

10,462,227


10,432,637




CREDITORS

Amounts falling due after more than one

year

8

4,794,850


4,838,085



NET ASSETS

5,667,377


5,594,552




CAPITAL AND RESERVES

Called up share capital

2


2



Revaluation reserve

10

4,509,279


4,509,279



Retained earnings

1,158,096


1,085,271



SHAREHOLDERS' FUNDS

5,667,377


5,594,552




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.

LURBECK PROPERTIES LIMITED (REGISTERED NUMBER: 03794237)


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 Income Statement has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:






A.D Kinnear - Director



LURBECK PROPERTIES LIMITED (REGISTERED NUMBER: 03794237)


NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023



1.

STATUTORY INFORMATION



Lurbeck 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.


The presentation currency of the financial statements is the Pound Sterling (£).


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.    



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.


Investment properties


Investment properties are measured at fair value at each reporting date with changes in fair value recognised through the profit and loss account.The gain or loss is credited to the revaluation reserve.



Turnover


Turnover is the total amount of rental income receivable.



3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 1 (2022 - 3 ) .


LURBECK PROPERTIES LIMITED (REGISTERED NUMBER: 03794237)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023



4.

TANGIBLE FIXED ASSETS


Freehold


property

£   



COST OR VALUATION


At 1 January 2023

11,507,011




Additions

456




At 31 December 2023

11,507,467




NET BOOK VALUE


At 31 December 2023

11,507,467




At 31 December 2022

11,507,011




If investment properties had not been revalued they would have been included at the following historical cost £7,082,931 (2022: £7,082,931).

Investment properties were valued on an open market basis on 31 December 2023 by the directors.

5.

FIXED ASSET INVESTMENTS


Interest


in joint


venture

£   



COST


At 1 January 2023


and 31 December 2023

1




PROVISIONS


At 1 January 2023


and 31 December 2023

1




NET BOOK VALUE


At 31 December 2023

-




At 31 December 2022

-




6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Trade debtors

34,982


32,649




Other debtors

7,502


7,502




Tax

-


4,787



42,484


44,938




LURBECK PROPERTIES LIMITED (REGISTERED NUMBER: 03794237)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023



7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Bank loans and overdrafts

36,260


36,260




Trade creditors

13,579


77,641




Amounts owed to associates

141,000


77,000




Other creditors

962,771


947,591



1,153,610


1,138,492




8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



31.12.23


31.12.22

£   

£   



Bank loans

4,724,850


4,758,085




Other creditors

70,000


80,000



4,794,850


4,838,085





Amounts falling due in more than five years:



Repayable otherwise than by instalments


Bank loans more 5 yrs non-inst

4,516,227


4,516,227





Repayable by instalments


Bank loans

56,725


89,960




9.

SECURED DEBTS



The following secured debts are included within creditors:



31.12.23


31.12.22

£   

£   



Bank loans

4,761,110


4,794,345




Other loans

270,000


280,000



5,031,110


5,074,345




10.

RESERVES


Revaluation


reserve

£   



At 1 January 2023


and 31 December 2023

4,509,279




11.

RELATED PARTY DISCLOSURES



At the year end £553,663 (2022: £636,444) was owed to A D Kinnear, a director of the company.


LURBECK PROPERTIES LIMITED (REGISTERED NUMBER: 03794237)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2023



12.

ULTIMATE CONTROLLING PARTY



The controlling party is A.D Kinnear.