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REGISTERED NUMBER: 06477356 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

LANDLORD FURNITURE LIMITED

LANDLORD FURNITURE LIMITED (REGISTERED NUMBER: 06477356)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LANDLORD FURNITURE LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: G S Johal
R S Johal



REGISTERED OFFICE: 82 Lillington Road
Leamington Spa
Warwickshire
CV32 6LE



REGISTERED NUMBER: 06477356 (England and Wales)



BANKERS: Lloyds Bank PLC
73 The Parade
Leamington Spa
Warwickshire
CV32 4BB

LANDLORD FURNITURE LIMITED (REGISTERED NUMBER: 06477356)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,844 13,081
Investment property 5 9,010,469 9,010,469
9,020,313 9,023,550

CURRENT ASSETS
Stocks - 241
Debtors 6 2,511 3,528
Cash at bank 88,970 107,179
91,481 110,948
CREDITORS
Amounts falling due within one year 7 478,843 716,667
NET CURRENT LIABILITIES (387,362 ) (605,719 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,632,951

8,417,831

CREDITORS
Amounts falling due after more than one
year

8

(2,894,353

)

(3,091,591

)

PROVISIONS FOR LIABILITIES (2,300 ) (2,255 )
NET ASSETS 5,736,298 5,323,985

CAPITAL AND RESERVES
Called up share capital 2,317,318 2,317,318
Retained earnings 3,418,980 3,006,667
SHAREHOLDERS' FUNDS 5,736,298 5,323,985

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

LANDLORD FURNITURE LIMITED (REGISTERED NUMBER: 06477356)

BALANCE SHEET - continued
31 January 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 24 October 2024 and were signed on its behalf by:





G S Johal - Director


LANDLORD FURNITURE LIMITED (REGISTERED NUMBER: 06477356)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Landlord Furniture 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

At the balance sheet date the company had net current liabilities of £387,362 (2023 - £605,719) and total net assets of £5,739,298 (2023 - 5,323,985). Included in creditors due within one year are directors loans of £120,225. The directors have expressed their willingness to support the company as necessary and along with the forecasted future profitable trade the business is considered a going concern. The accounts and financial statements have therefore been prepared on a going concern basis.

Turnover
Turnover comprises the value of sales (excluding value added tax) of goods provided in the normal course of business.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% on reducing balance

Investment property
Investment properties are included at valuation or, where in the opinion of the directors the open market value and original cost of the properties are not significantly different, at cost. No depreciation is provided on these properties as the estimated residual value of the properties approximates to the carrying value and any depreciation would be immaterial.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


LANDLORD FURNITURE LIMITED (REGISTERED NUMBER: 06477356)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and Motor Office
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 17,735 7,750 5,619 31,104
Disposals - (7,750 ) - (7,750 )
At 31 January 2024 17,735 - 5,619 23,354
DEPRECIATION
At 1 February 2023 6,386 6,974 4,663 18,023
Charge for year 2,270 - 191 2,461
Eliminated on disposal - (6,974 ) - (6,974 )
At 31 January 2024 8,656 - 4,854 13,510
NET BOOK VALUE
At 31 January 2024 9,079 - 765 9,844
At 31 January 2023 11,349 776 956 13,081

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 9,010,469
NET BOOK VALUE
At 31 January 2024 9,010,469
At 31 January 2023 9,010,469

LANDLORD FURNITURE LIMITED (REGISTERED NUMBER: 06477356)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,230 3,528
Other debtors 281 -
2,511 3,528

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 200,848 244,459
Trade creditors 8,520 4,790
Taxation and social security 131,250 100,213
Other creditors 138,225 367,205
478,843 716,667

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,845,497 3,032,735
Other creditors 48,856 58,856
2,894,353 3,091,591

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 2,845,497 3,032,735

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,046,345 3,277,194

These bank loans relate to mortgages taken out on all properties, all of which are stated as investment properties in the accounts.

10. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had bank loans totalling £3,046,345 (2023 - £3,277,194) which are secured on the investment properties held by the company.

11. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.