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REGISTERED NUMBER: 02798862 (England and Wales)













LONDON & COOMBE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






LONDON & COOMBE PROPERTIES LIMITED (REGISTERED NUMBER: 02798862)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LONDON & COOMBE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mr N H Wise





SECRETARY: Mr N H Wise





REGISTERED OFFICE: Second Floor
34 Lime Street
London
EC3M 7AT





REGISTERED NUMBER: 02798862 (England and Wales)





ACCOUNTANTS: Sinclairs Bartrum Lerner
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

LONDON & COOMBE PROPERTIES LIMITED (REGISTERED NUMBER: 02798862)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment properties 4 3,000,000 3,000,000

CURRENT ASSETS
Debtors 5 25,445 -
Cash at bank 1,419,815 1,185,180
1,445,260 1,185,180
CREDITORS
Amounts falling due within one year 6 1,487,535 1,403,563
NET CURRENT LIABILITIES (42,275 ) (218,383 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,957,725 2,781,617

CAPITAL AND RESERVES
Called up share capital 7 100 100
Other reserves 1,673,288 1,673,288
Retained earnings 1,284,337 1,108,229
SHAREHOLDERS' FUNDS 2,957,725 2,781,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 8 October 2024 and were signed by:





Mr N H Wise - Director


LONDON & COOMBE PROPERTIES LIMITED (REGISTERED NUMBER: 02798862)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

London & Coombe 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.

The presentation currency of the financial statements is pound sterling and amounts are rounded to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A for small entities. There were no material departures from that standard.

Turnover
Turnover represents net rental income receivable, excluding value added tax.

Revenue is recognised when it is invoiced to the tenants. The tenants are normally invoiced on a quarterly basis.Rent invoiced in advance is not recognised as turnover until the period to which it relates to.

Investment property
Investment properties are included at fair value. The determination of which is dependent upon this being measured reliably without undue cost or effort. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Basic financial instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition, they are measured at transaction price less any impairment losses. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances and deposits.

Other reserves
Other reserve is a non-distributable reserve and represents the net balance between the adjustment to the fair value of tangible assets and its related deferred tax provision.

3. EMPLOYEES AND DIRECTORS

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

LONDON & COOMBE PROPERTIES LIMITED (REGISTERED NUMBER: 02798862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. INVESTMENT PROPERTIES
Total
£
FAIR VALUE
At 1 May 2023
and 30 April 2024 3,000,000
NET BOOK VALUE
At 30 April 2024 3,000,000
At 30 April 2023 3,000,000

Fair value at 30 April 2024 is represented by:
£
Valuation in 2006 892,711
Valuation in 2019 1,407,443
Valuation in 2021 (983,556 )
Valuation in 2022 356,691
Cost 1,326,711
3,000,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 25,445 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed to group undertakings 1,323,696 1,285,461
Taxation and social security 66,475 56,270
Other creditors 97,364 61,832
1,487,535 1,403,563

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

8. ULTIMATE PARENT COMPANY

The immediate parent company is Leslie Wise Group Limited. The ultimate parent company is Leslie Wise Investment Holdings Limited. Both companies are registered in England and Wales.