Company registration number 00674129 (England and Wales)
L & M INVESTMENT COMPANY LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
5 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
L & M INVESTMENT COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Information for management
-
L & M INVESTMENT COMPANY LIMITED
BALANCE SHEET
AS AT
5 APRIL 2024
05 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
35,080
35,080
Tangible assets
4
494,420
24,023
Investment properties
5
12,427,168
9,632,671
Investments
6
29,465
28,740
12,986,133
9,720,514
Current assets
Debtors
536,985
857,022
Cash at bank and in hand
430,951
208,316
967,936
1,065,338
Creditors: amounts falling due within one year
(531,130)
(542,628)
Net current assets
436,806
522,710
Total assets less current liabilities
13,422,939
10,243,224
Creditors: amounts falling due after more than one year
(1,071,143)
(1,240,160)
Provisions for liabilities
(513,191)
-
0
Net assets
11,838,605
9,003,064
Capital and reserves
Called up share capital
7
2,000
2,000
Fair value reserve
5,356,650
2,112,650
Profit and loss reserves
6,479,955
6,888,414
Total equity
11,838,605
9,003,064

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

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 5 April 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.

L & M INVESTMENT COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
5 APRIL 2024
05 April 2024
- 2 -

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 25 September 2024 and are signed on its behalf by:
A M Stevenson
Director
Company Registration No. 00674129
L & M INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
- 3 -
1
Accounting policies
Company information

L & M Investment Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Walk Building, 110 Regent Road, Leicester, LE1 7LT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including 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 £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and listed investments. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, and is shown net of VAT. Turnover comprises rent receivable from freehold and leasehold investment properties and is recognised on a receivable basis.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately are recognised at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Computer equipment
25% on reducing balance
Motor vehicles
25% on reducing balance
1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset, or the asset's cash generating unit is estimated and compared to the carrying amount in order to determine the extent of the impairment loss (if any). Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

L & M INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value which is normally the transaction price excluding transaction costs. Such assets are subsequently measured at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

 

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
L & M INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 5 -
3
Intangible fixed assets
Total
£
Cost
At 6 April 2023 and 5 April 2024
35,080
Amortisation and impairment
At 6 April 2023 and 5 April 2024
-
0
Carrying amount
At 5 April 2024
35,080
At 5 April 2023
35,080
4
Tangible fixed assets
Total
£
Cost
At 6 April 2023 and 5 April 2024
52,219
Depreciation and impairment
At 6 April 2023
39,652
Depreciation charged in the year
3,147
At 5 April 2024
42,799
Carrying amount
At 5 April 2024
9,420
At 5 April 2023
12,567
5
Investment property
Leasehold Investment properties
Freehold Investment properties
2024
£
£
£
Fair value
At 6 April 2023
1,011,456
8,632,671
9,644,127
Additions
3,900
20,141
24,041
Revaluations
485,000
2,759,000
3,244,000
At 5 April 2024
1,500,356
11,411,812
12,912,168

The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the company director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

L & M INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 6 -
6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
29,465
28,740
Movements in fixed asset investments
Investments
£
Cost or valuation
At 6 April 2023
28,740
Valuation changes
725
At 5 April 2024
29,465
Carrying amount
At 5 April 2024
29,465
At 5 April 2023
28,740
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,000
2,000
2,000
2,000
8
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Director
-
120,000
(120,000)
-
120,000
(120,000)
-
0
2024-04-052023-04-06false25 September 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityA M StevensonG L Stevensonfalsefalse006741292023-04-062024-04-05006741292024-04-05006741292023-04-0500674129core:CurrentFinancialInstruments2024-04-0500674129core:CurrentFinancialInstruments2023-04-0500674129core:Non-currentFinancialInstruments2024-04-0500674129core:Non-currentFinancialInstruments2023-04-0500674129core:ShareCapital2024-04-0500674129core:ShareCapital2023-04-0500674129core:RevaluationReserve2024-04-0500674129core:RevaluationReserve2023-04-0500674129core:RetainedEarningsAccumulatedLosses2024-04-0500674129core:RetainedEarningsAccumulatedLosses2023-04-0500674129bus:Director12023-04-062024-04-0500674129core:IntangibleAssetsOtherThanGoodwill2023-04-062024-04-0500674129core:FurnitureFittings2023-04-062024-04-0500674129core:MotorVehicles2023-04-062024-04-05006741292022-04-062023-04-05006741292023-04-0500674129core:LandBuildings2023-04-0500674129core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-04-062024-04-0500674129bus:PrivateLimitedCompanyLtd2023-04-062024-04-0500674129bus:SmallCompaniesRegimeForAccounts2023-04-062024-04-0500674129bus:FRS1022023-04-062024-04-0500674129bus:AuditExemptWithAccountantsReport2023-04-062024-04-0500674129bus:Director22023-04-062024-04-0500674129bus:FullAccounts2023-04-062024-04-05xbrli:purexbrli:sharesiso4217:GBP