REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
LONDON LENDING LIBRARY (DURHAM) LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SOLICITORS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Revaluations | 6,000 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
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 |
Amounts owed by related companies - Spoors Limited |
- |
21,700 |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes | 1,970 | 1,939 |
Amounts owed to related companies - GW Rudd Limited |
Accruals and deferred income |
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. |