Company registration number 12520587 (England and Wales)
LUFITH PROPERTY BROTHERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LUFITH PROPERTY BROTHERS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LUFITH PROPERTY BROTHERS LTD (REGISTERED NUMBER: 12520587)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,375
Current assets
Debtors
4
2,539
1,101
Cash at bank and in hand
2,478
5,813
5,017
6,914
Creditors: amounts falling due within one year
5
(31,203)
(19,332)
Net current liabilities
(26,186)
(12,418)
Net liabilities
(22,811)
(12,418)
Capital and reserves
Called up share capital
6
100
1
Profit and loss reserves
(22,911)
(12,419)
Total equity
(22,811)
(12,418)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 October 2024 and are signed on its behalf by:
Mr H M J Borst
Director
LUFITH PROPERTY BROTHERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Lufith Property Brothers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, United Kingdom, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.
1.3
Turnover
Turnover is represents rental income received in the year.
1.4
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
LUFITH PROPERTY BROTHERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2023
Additions
4,500
At 31 March 2024
4,500
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
1,125
At 31 March 2024
1,125
Carrying amount
At 31 March 2024
3,375
At 31 March 2023
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
2,539
1,101
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
31,203
19,332
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
-
1
-
1
Ordinary A of £1 each
50
-
50
-
Ordinary B of £1 each
50
-
50
-
100
1
100
1
LUFITH PROPERTY BROTHERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
62,400
8
Related party transactions
Included in other debtors is a sum of £2,439 (2023: NIL) owed by companies under common control.
9
Prior period adjustment
In earlier accounting periods the Company's share capital of £1 had not been accounted for.
In addition, costs totalling £795 had been overstated and deposits for rent of £1,101 had not been accounted for.
The above corrections have subsequently been accounted for.