Registered number
08244347
Llann Investment Ltd
Filleted Accounts
For The Year Ended 31 October 2023
Llann Investment Ltd
Registered number: 08244347
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,134 4,221
Investments 4 2,390,401 2,390,401
2,394,535 2,394,622
Current assets
Cash at bank and in hand 578 558
Creditors: amounts falling due within one year 5 (684,568) (757,060)
Net current liabilities (683,990) (756,502)
Total assets less current liabilities 1,710,545 1,638,120
Creditors: amounts falling due after more than one year 6 (1,622,418) (1,574,965)
Net assets 88,127 63,155
Capital and reserves
Called up share capital 2 2
Profit and loss account 88,125 63,153
Shareholders' funds 88,127 63,155
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr N Ogbebor
Director
Approved by the board on 29 October 2024
Llann Investment Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment 20 % Reducing balance
Motor Vehicles 20 % Reducing balance
Computer Equipment 20 % Reducing balance
Fixtures, fittings, tools and equipment over 5 years
Investment Property
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Office Equipment Computer Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 1,188 - 24,579 25,767
Additions - 948 - 948
At 31 October 2023 1,188 948 24,579 26,715
Depreciation
At 1 November 2022 1,090 - 20,456 21,546
Charge for the year 20 190 825 1,035
At 31 October 2023 1,110 190 21,281 22,581
Net book value
At 31 October 2023 78 758 3,298 4,134
At 31 October 2022 98 - 4,123 4,221
4 Investment property
Other
investments
£
Cost
At 1 November 2022 2,390,401
At 31 October 2023 2,390,401
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 8,621 2,551
Other creditors 675,947 754,509
684,568 757,060
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,622,418 1,574,965
Bank Loans are secured by first legal charge over the investment propreties held by the
7 Other information
Llann Investment Ltd is a private company limited by shares and incorporated in England. Its registered office is:
24 Woodfield Avenue
Wembley
Middlesex
HA0 3NR
Llann Investment Ltd 08244347 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts April 2024 Mr N Ogbebor No description of principal activity 08244347 2021-11-01 2022-10-31 08244347 core:WithinOneYear 2022-10-31 08244347 core:AfterOneYear 2022-10-31 08244347 core:ShareCapital 2022-10-31 08244347 core:RetainedEarningsAccumulatedLosses 2022-10-31 08244347 2022-11-01 2023-10-31 08244347 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08244347 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 08244347 bus:Director40 2022-11-01 2023-10-31 08244347 1 2022-11-01 2023-10-31 08244347 2 2022-11-01 2023-10-31 08244347 core:LandBuildings 2022-11-01 2023-10-31 08244347 core:PlantMachinery 2022-11-01 2023-10-31 08244347 core:Vehicles 2022-11-01 2023-10-31 08244347 countries:England 2022-11-01 2023-10-31 08244347 bus:FRS102 2022-11-01 2023-10-31 08244347 bus:FilletedAccounts 2022-11-01 2023-10-31 08244347 2023-10-31 08244347 core:WithinOneYear 2023-10-31 08244347 core:AfterOneYear 2023-10-31 08244347 core:ShareCapital 2023-10-31 08244347 core:RetainedEarningsAccumulatedLosses 2023-10-31 08244347 core:LandBuildings 2023-10-31 08244347 core:PlantMachinery 2023-10-31 08244347 core:Vehicles 2023-10-31 08244347 2022-10-31 08244347 core:LandBuildings 2022-10-31 08244347 core:PlantMachinery 2022-10-31 08244347 core:Vehicles 2022-10-31 iso4217:GBP xbrli:pure