Lillie Rae Estates Limited 14619855 false 2023-01-26 2024-06-30 2024-06-30 The principal activity of the company is real estate. Digita Accounts Production Advanced 6.30.9574.0 true 14619855 2023-01-26 2024-06-30 14619855 2024-06-30 14619855 core:OtherReservesSubtotal 2024-06-30 14619855 core:RetainedEarningsAccumulatedLosses 2024-06-30 14619855 core:ShareCapital 2024-06-30 14619855 core:CurrentFinancialInstruments 2024-06-30 14619855 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 14619855 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 14619855 core:OtherResidualIntangibleAssets 2024-06-30 14619855 bus:SmallEntities 2023-01-26 2024-06-30 14619855 bus:AuditExemptWithAccountantsReport 2023-01-26 2024-06-30 14619855 bus:FullAccounts 2023-01-26 2024-06-30 14619855 bus:SmallCompaniesRegimeForAccounts 2023-01-26 2024-06-30 14619855 bus:RegisteredOffice 2023-01-26 2024-06-30 14619855 bus:Director1 2023-01-26 2024-06-30 14619855 bus:PrivateLimitedCompanyLtd 2023-01-26 2024-06-30 14619855 core:IntangibleAssetsOtherThanGoodwill 2023-01-26 2024-06-30 14619855 core:OtherResidualIntangibleAssets 2023-01-26 2024-06-30 14619855 countries:EnglandWales 2023-01-26 2024-06-30 iso4217:GBP xbrli:pure

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Registration number: 14619855

Lillie Rae Estates Limited

Unaudited Financial Statements

for the Period from 26 January 2023 to 30 June 2024

 

Lillie Rae Estates Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Lillie Rae Estates Limited

(Registration number: 14619855)
Balance Sheet as at 30 June 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

3,587

Investment property

5

410,000

 

413,587

Current assets

 

Debtors

6

272

Cash at bank and in hand

 

59

 

331

Creditors: Amounts falling due within one year

7

(142,922)

Net current liabilities

 

(142,591)

Total assets less current liabilities

 

270,996

Creditors: Amounts falling due after more than one year

7

(147,013)

Net assets

 

123,983

Capital and reserves

 

Called up share capital

1

Other reserves

177,963

Retained earnings

(53,981)

Shareholders' funds

 

123,983

 

Lillie Rae Estates Limited

(Registration number: 14619855)
Balance Sheet as at 30 June 2024

For the financial period ending 30 June 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 8 October 2024
 

.........................................
Mr J M Simpson
Director

 

Lillie Rae Estates Limited

Notes to the Unaudited Financial Statements for the Period from 26 January 2023 to 30 June 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:
2 Worthing Place
Stoke-On-Trent
ST3 2SB
England

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.

Revenue recognition

Turnover comprises the fair value of the consideration received in respect of rental income.

Tax

The tax expense for the period comprises of current and deferred tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Lillie Rae Estates Limited

Notes to the Unaudited Financial Statements for the Period from 26 January 2023 to 30 June 2024

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

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

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 development

25% reducing balance

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Lillie Rae Estates Limited

Notes to the Unaudited Financial Statements for the Period from 26 January 2023 to 30 June 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

4,200

4,200

At 30 June 2024

4,200

4,200

Amortisation

Amortisation charge

613

613

At 30 June 2024

613

613

Carrying amount

At 30 June 2024

3,587

3,587

5

Investment properties

2024
£

Additions

232,037

Fair value adjustments

177,963

At 30 June

410,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

Prepayments

272

 

Lillie Rae Estates Limited

Notes to the Unaudited Financial Statements for the Period from 26 January 2023 to 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

132,996

Accruals and deferred income

 

1,495

Other creditors

 

8,431

 

142,922

2024
£

Current loans and borrowings

Bank borrowings

62,996

Other borrowings

70,000

132,996

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

147,013

The bank borrowings of £175,009 are secured against the following properties:
20 Wyndham Road, Stoke-on-Trent, ST3 3LX
120 Pinewood Crescent, Stoke-on-Trent, ST3 6HZ