Lullymore Properties Limited 14703806 false 2023-03-03 2024-03-31 2024-03-31 The principal activity of the company is private market property rental. Digita Accounts Production Advanced 6.30.9574.0 true true 14703806 2023-03-03 2024-03-31 14703806 2024-03-31 14703806 core:CurrentFinancialInstruments 2024-03-31 14703806 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14703806 core:Non-currentFinancialInstruments 2024-03-31 14703806 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14703806 core:LandBuildings 2024-03-31 14703806 1 2024-03-31 14703806 bus:SmallEntities 2023-03-03 2024-03-31 14703806 bus:AuditExemptWithAccountantsReport 2023-03-03 2024-03-31 14703806 bus:FilletedAccounts 2023-03-03 2024-03-31 14703806 bus:SmallCompaniesRegimeForAccounts 2023-03-03 2024-03-31 14703806 bus:RegisteredOffice 2023-03-03 2024-03-31 14703806 bus:Director1 2023-03-03 2024-03-31 14703806 bus:PrivateLimitedCompanyLtd 2023-03-03 2024-03-31 14703806 core:LandBuildings 2023-03-03 2024-03-31 14703806 countries:EnglandWales 2023-03-03 2024-03-31 14703806 1 2023-03-03 2024-03-31 14703806 1 2023-03-02 iso4217:GBP xbrli:pure

Registration number: 14703806

Lullymore Properties Limited

Unaudited Filleted Financial Statements

for the Period from 3 March 2023 to 31 March 2024

 

Lullymore Properties Limited

Contents
for the Period from 3 March 2023 to 31 March 2024

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Lullymore Properties Limited

Company Information
for the Period from 3 March 2023 to 31 March 2024

Director

W Doyle

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

14703806 ( England and Wales )

Accountants

Windsor Accountancy Limited
Chartered Certified Accountants
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Lullymore Properties Limited

(Registration number: 14703806)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,223,646

Current assets

 

Debtors

5

11,870

Cash at bank and in hand

 

1,458

 

13,328

Creditors: Amounts falling due within one year

6

(645,869)

Net current liabilities

 

(632,541)

Total assets less current liabilities

 

591,105

Creditors: Amounts falling due after more than one year

6

(620,867)

Net liabilities

 

(29,762)

Capital and reserves

 

Called up share capital

112

Retained earnings

(29,874)

Shareholders' deficit

 

(29,762)

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

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2024
 

 

Lullymore Properties Limited

(Registration number: 14703806)
Balance Sheet as at 31 March 2024

.........................................
W Doyle
Director

 

Lullymore Properties Limited

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 31 March 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:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the director on 25 September 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.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Lullymore Properties Limited

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Security

West One Secured Loans Limited has a fixed charge over the assets of the company, created on 13 June 2023.

 

Lullymore Properties Limited

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 31 March 2024

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 the director) during the period, was 1.

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

1,223,646

1,223,646

At 31 March 2024

1,223,646

1,223,646

Depreciation

Carrying amount

At 31 March 2024

1,223,646

1,223,646

Included within the net book value of land and buildings above is £1,223,646 in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

Other debtors

11,870

 

11,870

 

Lullymore Properties Limited

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

7

31,647

Trade creditors

 

13

Amounts owed to related parties

8

612,769

Accruals and deferred income

 

1,440

 

645,869

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

7

620,867

7

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

620,867

Current loans and borrowings

2024
£

Bank borrowings

31,647

 

Lullymore Properties Limited

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 31 March 2024

8

Related party transactions

Transactions with the director

2024

At 3 March 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Advances and credits

-

509,092

(504,250)

4,842

 

Other transactions with the director

The balance due from the director at the year end date was free of interest and deemed repayable on demand. 

Summary of transactions with other related parties

At the year end the company owed £612,769 to Doyle Machinery Limited, a company partly owned by the director Mr W Doyle.