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Company Registration No. 03117154 (England and Wales)
Liconi Limited Unaudited accounts for the year ended 31 October 2023
Liconi Limited Unaudited accounts Contents
Page
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Liconi Limited Company Information for the year ended 31 October 2023
Directors
Mr John Wray Mr Derrick Williams
Secretary
Mr Patrick Williams
Company Number
03117154 (England and Wales)
Registered Office
68 Bruce Grove Tottenham London N17 6UZ United Kingdom
Accountants
DF Powell & Co, Chartered Certified Accountants 3 Cumbrian House First Floor, 217 Marsh Wall London E14 9FJ
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Liconi Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,739,746 
7,648,580 
Current assets
Debtors
557,068 
465,873 
Cash at bank and in hand
124,048 
308,867 
681,116 
774,740 
Creditors: amounts falling due within one year
(118,799)
(125,872)
Net current assets
562,317 
648,868 
Total assets less current liabilities
8,302,063 
8,297,448 
Creditors: amounts falling due after more than one year
(4,195,505)
(4,205,308)
Provisions for liabilities
Deferred tax
(787,209)
(787,209)
Net assets
3,319,349 
3,304,931 
Capital and reserves
Called up share capital
150,000 
150,000 
Capital contribution reserve
3,152,577 
3,149,076 
Profit and loss account
16,772 
5,855 
Shareholders' funds
3,319,349 
3,304,931 
For the year ending 31 October 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by
Mr Derrick Williams Director Company Registration No. 03117154
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Liconi Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Liconi Limited is a private company, limited by shares, registered in England and Wales, registration number 03117154. The registered office is 68 Bruce Grove, Tottenham, London, N17 6UZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents total rent receivable from property lettings and ground rent received during the year.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line over 50 years
Plant & machinery
20% Reducing balance method
Fixtures & fittings
25% Reducing balance method
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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Liconi Limited Notes to the Accounts for the year ended 31 October 2023
Investment Property
The company carries its investment properties at fair value at each reporting date, with changes in fair value being recognised in profit or loss. The valuation of the company's property portfolio is inherently subjective due to, among other factors, the individual nature of each property, its location and expected future rental revenues from that particular property. As a result, the valuations the company places on its property portfolio are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of volatility or low transaction flow in the property market.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2022
7,648,579 
- 
8,539 
7,657,118 
Additions
- 
113,957 
- 
113,957 
At 31 October 2023
7,648,579 
113,957 
8,539 
7,771,075 
Depreciation
At 1 November 2022
- 
- 
8,538 
8,538 
Charge for the year
- 
22,791 
- 
22,791 
At 31 October 2023
- 
22,791 
8,538 
31,329 
Net book value
At 31 October 2023
7,648,579 
91,166 
1 
7,739,746 
At 31 October 2022
7,648,579 
- 
1 
7,648,580 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
213,751 
111,024 
Accrued income and prepayments
16,000 
15,000 
Other debtors
327,317 
339,849 
557,068 
465,873 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
20,239 
18,345 
Taxes and social security
79,464 
79,464 
Other creditors
10,318 
10,318 
Loans from directors
3,478 
15,045 
Accruals
5,300 
2,700 
118,799 
125,872 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
4,195,505 
4,205,308 
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Liconi Limited Notes to the Accounts for the year ended 31 October 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
150,000 Ordinary shares of £1 each
150,000 
150,000 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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