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Registration number: 14576856

Lets Manage Group Ltd

Annual Report and Unaudited Financial Statements

for the Period from 7 January 2023 to 31 January 2024

 

Lets Manage Group Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Lets Manage Group Ltd

(Registration number: 14576856)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

4,578

Tangible assets

5

208,466

Investments

6

2

 

213,046

Current assets

 

Debtors

7

6,421

Creditors: Amounts falling due within one year

8

(222,197)

Net current liabilities

 

(215,776)

Net liabilities

 

(2,730)

Capital and reserves

 

Called up share capital

9

2

Retained earnings

(2,732)

Shareholders' deficit

 

(2,730)

 

Lets Manage Group Ltd

(Registration number: 14576856)
Balance Sheet as at 31 January 2024

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 October 2024 and signed on its behalf by:
 

Mr Jason Blinman
Director

   
     
 

Lets Manage Group Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Freshford House
Redcliffe Way
Bristol
BS1 6NL
England

These financial statements were authorised for issue by the Board on 7 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Group accounts not prepared

The company is a part of a small group. The company has taken advantage of the exemption provided by Section 399 of the Companies Act 2006 and has not prepared group accounts.

Disclosure of long or short period

The company was incorporated on 7 January 2023. These accounts represent the period from incorporation to the company's accounting reference date to 31 January 2024.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Finance income and costs policy

Finance income and expenses are recognised using the effective interest method.

 

Lets Manage Group Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2023 to 31 January 2024

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Assets in the course of construction are carried at cost. These assets are not depreciated until they are available for use.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% Reducing balance

Land

Not depreciated as residual value is in excess of cost

Assets under construction

To commence when brought into use

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

To commence when brought into use

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Lets Manage Group Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2023 to 31 January 2024

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period was 2.

 

Lets Manage Group Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2023 to 31 January 2024

4

Intangible assets

Website
 £

Total
£

Cost or valuation

Additions acquired separately

4,578

4,578

At 31 January 2024

4,578

4,578

Carrying amount

At 31 January 2024

4,578

4,578

5

Tangible assets

Land
£

Assets under construction
 £

Plant and machinery
£

Total
£

Cost or valuation

Additions

158,473

48,733

1,375

208,581

At 31 January 2024

158,473

48,733

1,375

208,581

Depreciation

Charge for the period

-

-

115

115

At 31 January 2024

-

-

115

115

Carrying amount

At 31 January 2024

158,473

48,733

1,260

208,466

6

Investments

2024
£

Investments in subsidiaries

2

Subsidiaries

£

Cost or valuation

Additions

2

Carrying amount

At 31 January 2024

2

 

Lets Manage Group Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2023 to 31 January 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

Subsidiary undertakings

Lets Manage Developments Ltd

Freshford House, Redcliffe Way, Bristol, England, BS1 6NL

England & Wales

Ordinary

100%

Cash Property Co Limited

Freshford House, Redcliffe Way, Bristol, England, BS1 6NL

England & Wales

Ordinary

100%

7

Debtors

2024
£

Other debtors

6,421

6,421

8

Creditors

Due within one year

Note

2024
£

 

Amounts due to related parties

10

219,697

Accruals

 

2,500

 

222,197

 

Lets Manage Group Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2023 to 31 January 2024

9

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

2

2

   

During the period, 2 ordinary £1 shares were issued at par.

10

Related party transactions

Loans from related parties

2024

Other related parties
£

Total
£

Advanced

219,697

219,697

At end of period

219,697

219,697

Terms of loans from related parties

Loans from other related parties are interest free and repayable on demand.
Other related parties are related by virtue of their common ownership.