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Registered number: 06671734
Lordship Lane Properties Limited
Financial Statements
For the Period 1 October 2023 to 31 March 2024
JR Accounts
Chartered Certified Accountants
164-166 High Road
Ilford
Essex
IG1 1LL
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr Mohammad Nawaz
Company Number 06671734
Registered Office 164-166 High Road
Ilford
Essex
IG1 1LL
Accountants JR Accounts
Chartered Certified Accountants
164-166 High Road
Ilford
Essex
IG1 1LL
Page 1
Page 2
Balance Sheet
Registered number: 06671734
31 March 2024 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 434,350 434,350
434,350 434,350
CURRENT ASSETS
Debtors 5 40,681 25,201
Cash at bank and in hand 195,202 83,133
235,883 108,334
Creditors: Amounts Falling Due Within One Year 6 (313,750 ) (193,551 )
NET CURRENT ASSETS (LIABILITIES) (77,867 ) (85,217 )
TOTAL ASSETS LESS CURRENT LIABILITIES 356,483 349,133
Creditors: Amounts Falling Due After More Than One Year 7 (183,518 ) (186,000 )
NET ASSETS 172,965 163,133
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 172,865 163,033
SHAREHOLDERS' FUNDS 172,965 163,133
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For the period 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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Mohammad Nawaz
Director
29 October 2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Lordship Lane Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06671734 . The registered office is 164-166 High Road, Ilford, Essex, IG1 1LL.
The financial statements are prepared in sterling. Monetary amounts in these financial statements are rounded to the nearest £.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Stated at cost
2.4. 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 year 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 asset reflects 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
The average number of employees, including the director, during the year was  1 (2023: 1)
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4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 October 2023 434,350
As at 31 March 2024 434,350
Net Book Value
As at 31 March 2024 434,350
As at 1 October 2023 434,350
5. Debtors
31 March 2024 30 September 2023
£ £
Due within one year
Trade debtors 2,300 2,300
Other debtors 38,381 22,901
40,681 25,201
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 30 September 2023
£ £
Trade creditors - 5,845
Corporation tax 2,877 4,321
VAT 1,195 1,530
Accruals and deferred income 2,025 1,500
Director's loan account 307,653 180,355
313,750 193,551
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7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 30 September 2023
£ £
Bank loans 179,185 180,667
Bounce back loan 4,333 5,333
183,518 186,000
8. Share Capital
31 March 2024 30 September 2023
£ £
Allotted, Called up and fully paid 100 100
9. Contingent Liabilities
The company had no contingent liabilities at either the start or at the end of the financial year.
10. Capital Commitments
The company had no capital commitments as at 31 March 2024.
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