Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12460169 A E Gray C L Gray iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12460169 2023-03-31 12460169 2024-03-31 12460169 2023-04-01 2024-03-31 12460169 frs-core:CurrentFinancialInstruments 2024-03-31 12460169 frs-core:ShareCapital 2024-03-31 12460169 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12460169 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12460169 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12460169 frs-bus:SmallEntities 2023-04-01 2024-03-31 12460169 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12460169 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12460169 frs-bus:Director1 2023-04-01 2024-03-31 12460169 frs-bus:Director2 2023-04-01 2024-03-31 12460169 frs-countries:EnglandWales 2023-04-01 2024-03-31 12460169 2022-03-31 12460169 2023-03-31 12460169 2022-04-01 2023-03-31 12460169 frs-core:CurrentFinancialInstruments 2023-03-31 12460169 frs-core:ShareCapital 2023-03-31 12460169 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 12460169
Lundon Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Greenbridge Consultancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12460169
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 260,000 260,000
260,000 260,000
CURRENT ASSETS
Debtors 5 2,213 2,405
Cash at bank and in hand 13 388
2,226 2,793
Creditors: Amounts Falling Due Within One Year 6 (239,914 ) (252,520 )
NET CURRENT ASSETS (LIABILITIES) (237,688 ) (249,727 )
TOTAL ASSETS LESS CURRENT LIABILITIES 22,312 10,273
NET ASSETS 22,312 10,273
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 22,212 10,173
SHAREHOLDERS' FUNDS 22,312 10,273
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A E Gray
Director
23/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lundon Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12460169 . The registered office is 21 Poulett Gardens, Twickenham, TW1 4QS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS102 "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 the 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 revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The company has net current liabilities of £234,859 (2022 : £249,727) at the balance sheet date which suggest that the going concern basis may not be appropriate. However, the directors have given assurance that they will continue to support the company to allow it to continue in operation for the foreseeable future. The directors therefore consider it appropriate to prepare financial statements on a going concern basis. The financial statements do not include any adjustment that would result from a withdrawal of this support.
2.3. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue for the provision of services is recognised by reference to rental income  receivable for the reporting period.
2.4. Investment Properties
Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any other directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
2.5. Financial Instruments
The company has elected to apply, the provision of Section 11 'Basic Financial Instruments' and section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently carried at the amortised cost using the effective interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash floes have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and then present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in it's entirety to an unrelated party.
...CONTINUED
Page 3
Page 4
2.5. Financial Instruments - continued
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial  liabilities
Basic financial liabilities, including creditors, bank loans, are initially recognised at the transaction price. Financial liabilities classified as payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 260,000
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 2,213 2,405
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 2,829 2,697
Other creditors 237,085 249,823
239,914 252,520
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
At the balance sheet date the company owed £236,235 (2022: £248,923) to the directors of the company.
Page 5