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REGISTERED NUMBER: 05458342 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Lockhart Properties Limited

Lockhart Properties Limited (Registered number: 05458342)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Lockhart Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K Theophanous
F Theophanous
J Theophanous



REGISTERED OFFICE: Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE



REGISTERED NUMBER: 05458342 (England and Wales)



ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE



SOLICITORS: Winters & Co.
3 Baldock Street
Ware
Herts
SG12 9DH

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Lockhart Properties Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lockhart Properties Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lockhart Properties Limited, as a body, in accordance with the terms of our engagement letter dated 5 August 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Lockhart Properties Limited and state those matters that we have agreed to state to the Board of Directors of Lockhart Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lockhart Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lockhart Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lockhart Properties Limited. You consider that Lockhart Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lockhart Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE


15 October 2024

Lockhart Properties Limited (Registered number: 05458342)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 1,250,000 1,250,000
1,250,000 1,250,000

CURRENT ASSETS
Debtors 7 2,450 2,761
Cash at bank and in hand 42,423 56,535
44,873 59,296
CREDITORS
Amounts falling due within one year 8 986,385 973,032
NET CURRENT LIABILITIES (941,512 ) (913,736 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

308,488

336,264

PROVISIONS FOR LIABILITIES 75,485 75,485
NET ASSETS 233,003 260,779

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 233,001 260,777
SHAREHOLDERS' FUNDS 233,003 260,779

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.

Lockhart Properties Limited (Registered number: 05458342)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





F Theophanous - Director


Lockhart Properties Limited (Registered number: 05458342)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Lockhart Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Compliance with accounting standards
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company’s policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 5 years

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.

The valuations have been assessed by the directors.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 2,502
DEPRECIATION
At 1 April 2023
and 31 March 2024 2,502
NET BOOK VALUE
At 31 March 2024 -

Lockhart Properties Limited (Registered number: 05458342)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,250,000
NET BOOK VALUE
At 31 March 2024 1,250,000
At 31 March 2023 1,250,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 2,450 2,761

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Taxation and social security 9,189 9,137
Other creditors 977,196 963,895
986,385 973,032

9. RELATED PARTY DISCLOSURES

Included in other creditors are amounts due to Bradbury Tracks Limited of £587,349 (2023: £581,534) and Wye Holdings Limited £376,537 (2023: £372,809). Interest was charged on these loans of £9,543 (2023: £9,449). The companies have common directors and shareholders.

10. ULTIMATE CONTROLLING PARTY

The company is under the joint control of Mr F D Theophanus and Mr K Theophanus who are both directors and shareholders.