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REGISTERED NUMBER: 09908175 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

LMO PROPERTY LIMITED

LMO PROPERTY LIMITED (REGISTERED NUMBER: 09908175)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LMO PROPERTY LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr M Oakes
Mrs L Oakes





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 09908175 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

LMO PROPERTY LIMITED (REGISTERED NUMBER: 09908175)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,185 2,773
Investment property 5 4,085,162 4,085,162
4,088,347 4,087,935

CURRENT ASSETS
Debtors 6 33,445 31,107
Cash at bank and in hand 21,185 43,954
54,630 75,061
CREDITORS
Amounts falling due within one year 7 2,068,024 2,102,161
NET CURRENT LIABILITIES (2,013,394 ) (2,027,100 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,074,953 2,060,835

CREDITORS
Amounts falling due after more than one year 8 1,580,586 1,612,842
NET ASSETS 494,367 447,993

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 354,947 354,947
Retained earnings 139,320 92,946
SHAREHOLDERS' FUNDS 494,367 447,993

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.

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 Profit And Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:




Mr M Oakes - Director


LMO PROPERTY LIMITED (REGISTERED NUMBER: 09908175)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

LMO Property Limited is a private company, limited by shares, registered in England and Wales, registration number 09908175. The address of the registered office is 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD. The principal place of business is The Workshop, 1a Peel Avenue, Bowden, WA14 2UG.

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 is measured at the fair value of consideration received or receivable for rental income and service charges received from properties, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Computer equipment-20% on cost
Fixtures and fittings-20% on cost

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand. Bank borrowings are included within creditors

3. EMPLOYEES AND DIRECTORS

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

LMO PROPERTY LIMITED (REGISTERED NUMBER: 09908175)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 21,665 2,087 23,752
Additions - 1,232 1,232
At 31 March 2024 21,665 3,319 24,984
DEPRECIATION
At 1 April 2023 18,892 2,087 20,979
Charge for year 820 - 820
At 31 March 2024 19,712 2,087 21,799
NET BOOK VALUE
At 31 March 2024 1,953 1,232 3,185
At 31 March 2023 2,773 - 2,773

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 4,085,162
NET BOOK VALUE
At 31 March 2024 4,085,162
At 31 March 2023 4,085,162

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 354,947
Cost 3,730,215
4,085,162

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 19,192 9,417
Other debtors 14,253 21,690
33,445 31,107

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 7,128 8,365
Taxation and social security 28,909 10,520
Other creditors 2,031,987 2,083,276
2,068,024 2,102,161

LMO PROPERTY LIMITED (REGISTERED NUMBER: 09908175)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,580,586 1,612,842

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,580,586 1,612,842

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,580,586 1,612,842

The charges also included are fixed charges and negative pledges.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100