Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-312023-01-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.Buying and letting of own real estatetrue2022-02-01false1true 13801656 2022-01-31 13801656 2022-02-01 2023-01-31 13801656 2021-02-01 2022-01-31 13801656 2023-01-31 13801656 c:Director1 2022-02-01 2023-01-31 13801656 c:Director2 2022-02-01 2023-01-31 13801656 d:FreeholdInvestmentProperty 2022-02-01 2023-01-31 13801656 d:FreeholdInvestmentProperty 2023-01-31 13801656 d:CurrentFinancialInstruments 2023-01-31 13801656 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13801656 d:ShareCapital 2023-01-31 13801656 d:RetainedEarningsAccumulatedLosses 2023-01-31 13801656 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 13801656 c:FRS102 2022-02-01 2023-01-31 13801656 c:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 13801656 c:FullAccounts 2022-02-01 2023-01-31 13801656 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 13801656 e:PoundSterling 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 13801656










LIGHT UK PROPERTIES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
LIGHT UK PROPERTIES LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFLIGHT UK PROPERTIES LTD
FOR THE YEAR ENDED 31 JANUARY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Light UK Properties Ltd for the year ended 31 January 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the Board of Directors of Light UK Properties Ltd, as a body, in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Light UK Properties Ltd and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Light UK Properties Ltd and its  Board of Directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Light UK Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Light UK Properties Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Light UK Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.







Shipleys Tax Planning
 

8 October 2024
Page 1

 
LIGHT UK PROPERTIES LTD
REGISTERED NUMBER: 13801656

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
Note
£

Fixed assets
  

Investment property
 4 
388,462

  
388,462

Current assets
  

Cash at bank and in hand
 5 
2,240

  
2,240

Creditors: amounts falling due within one year
 6 
(380,869)

Net current (liabilities)/assets
  
 
 
(378,629)

Total assets less current liabilities
  
9,833

  

Net assets
  
9,833


Capital and reserves
  

Called up share capital 
  
2

Profit and loss account
  
9,831

  
9,833


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 October 2024.






Jamal Abdul Umar Khalil
Sofia Noshin
Director
Director

Page 2

 
LIGHT UK PROPERTIES LTD
REGISTERED NUMBER: 13801656

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The notes on pages 4 to 7 form part of these financial statements.
Page 3

 
LIGHT UK PROPERTIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Light UK Properties Ltd is a company domiciled in England & Wales, registration number 13801656. The registered office is 68 Thorpe Park Road, England, PE3 6LJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
LIGHT UK PROPERTIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions 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 the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the year was 1.

Page 5

 
LIGHT UK PROPERTIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
388,462



At 31 January 2023
388,462

The 2023 valuations were made by the director J Khalil, on an open market value for existing use basis.



At 31 January 2023



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:




5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
2,240

2,240



6.


Creditors: Amounts falling due within one year

2023
£

Corporation tax
3,194

Other creditors
376,235

Accruals and deferred income
1,440

380,869


Page 6

 
LIGHT UK PROPERTIES LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

7.


Financial instruments

2023
£

Financial assets


Financial assets measured at fair value through profit or loss
2,241




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


8.


Related party transactions

During the year the directors loaned the company £376,236. At the balance sheet date other creditors Iincluded £376,236 as amounts owed to the directors.


9.


Controlling party

The company is controlled by the directors J Khalil and S Noshin.

Page 7