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REGISTERED NUMBER: 00302087 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

LONDON LENDING LIBRARY (DURHAM) LIMITED

LONDON LENDING LIBRARY (DURHAM) LIMITED (REGISTERED NUMBER: 00302087)

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


LONDON LENDING LIBRARY (DURHAM) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M G P C Williams
R K Dore
J P Rudd



SECRETARY: R K Dore



REGISTERED OFFICE: Rudland House
Railway Street
Bishop Auckland
Co. Durham
DL14 7LR



REGISTERED NUMBER: 00302087 (England and Wales)



SOLICITORS: Hewitts
207 Newgate Street
Bishop Auckland
County Durham
DL14 7EL

LONDON LENDING LIBRARY (DURHAM) LIMITED (REGISTERED NUMBER: 00302087)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment property 4 391,000 385,000

CURRENT ASSETS
Debtors 5 953 22,214
Cash at bank 137,773 153,192
138,726 175,406
CREDITORS
Amounts falling due within one year 6 52,342 59,893
NET CURRENT ASSETS 86,384 115,513
TOTAL ASSETS LESS CURRENT
LIABILITIES

477,384

500,513

PROVISIONS FOR LIABILITIES 5,847 3,304
NET ASSETS 471,537 497,209

CAPITAL AND RESERVES
Called up share capital 20,400 20,400
Fair value reserve 242,731 239,274
Retained earnings 208,406 237,535
SHAREHOLDERS' FUNDS 471,537 497,209

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.

LONDON LENDING LIBRARY (DURHAM) LIMITED (REGISTERED NUMBER: 00302087)

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 1 September 2024 and were signed on its behalf by:





M G P C Williams - Director


LONDON LENDING LIBRARY (DURHAM) LIMITED (REGISTERED NUMBER: 00302087)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

London Lending Library (Durham) 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.

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.

Turnover
Turnover represents rental income from the letting of freehold investment property along with recharges of insurance and other items to tenants.

Rental income is recognised in the period to which it relates. Debtors or creditors are provided at the year end to account for the relevant proportion of rent received in arrears or in advance.

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss for the year and included in the fair value reserve on the balance sheet. Investment properties are not depreciated.

Deferred tax is provided on revaluation gains at the rate expected to apply when the property is sold.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023 385,000
Revaluations 6,000
At 31 March 2024 391,000
NET BOOK VALUE
At 31 March 2024 391,000
At 31 March 2023 385,000

Fair value at 31 March 2024 is represented by:
£
Valuation in 2024 391,000

LONDON LENDING LIBRARY (DURHAM) LIMITED (REGISTERED NUMBER: 00302087)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INVESTMENT PROPERTY - continued

If freehold investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£ £
Cost 142,422 142,422

Freehold investment property was valued on an open market basis on 3 February 2023 by Carver Commercial Chartered Surveyors .

Apart from one property, which has been revalued this year, the directors consider that the valuations obtained last year are still realistic.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 171 514
Amounts owed by related companies -
Spoors Limited

-

21,700
Prepayments and accrued income 782 -
953 22,214

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 711 -
Social security and other taxes 1,970 1,939
Amounts owed to related companies - GW
Rudd Limited

37,337

44,700
Accruals and deferred income 12,324 13,254
52,342 59,893

7. RELATED PARTY DISCLOSURES

A number of shareholders of this company, including the directors, also have interests in the shares of the companies referred to below.


Balances due to/from related parties at 31 March 2024

Due from related parties

Spoors Limited - Nil (2023 - £21,700)

Due to related parties

G W Rudd Limited - £37,337 (2023 - £44,700)

No interest is payable on the above balances and there are no set repayment terms.