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REGISTERED NUMBER: 12118055 (England and Wales)




















Financial Statements

for the Year Ended 29 February 2024

for

L, L & FAITH LTD

L, L & FAITH LTD (REGISTERED NUMBER: 12118055)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L, L & FAITH LTD

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Ms S K D Li
Ms T C L Lui





REGISTERED OFFICE: 143 Station Road
Hampton
Middlesex
TW12 2AL





REGISTERED NUMBER: 12118055 (England and Wales)





ACCOUNTANTS: Alvis & Company (Accountants) Limited
143 Station Road
Hampton
Middlesex
TW12 2AL

L, L & FAITH LTD (REGISTERED NUMBER: 12118055)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 4,978 9,955
Investment property 5 135,863 119,595
140,841 129,550

CURRENT ASSETS
Debtors 6 1,231 917
Cash at bank 3,849 4,201
5,080 5,118
CREDITORS
Amounts falling due within one year 7 (140,256 ) (147,420 )
NET CURRENT LIABILITIES (135,176 ) (142,302 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,665

(12,752

)

PROVISIONS FOR LIABILITIES (3,091 ) -
NET ASSETS/(LIABILITIES) 2,574 (12,752 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 2,474 (12,852 )
SHAREHOLDERS' FUNDS 2,574 (12,752 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

L, L & FAITH LTD (REGISTERED NUMBER: 12118055)

Balance Sheet - continued
29 February 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 9 October 2024 and were signed on its behalf by:





Ms T C L Lui - Director


L, L & FAITH LTD (REGISTERED NUMBER: 12118055)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

L, L & Faith Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Know How are being amortised evenly over their estimated useful life of five years.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

L, L & FAITH LTD (REGISTERED NUMBER: 12118055)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 24,886
AMORTISATION
At 1 March 2023 14,931
Charge for year 4,977
At 29 February 2024 19,908
NET BOOK VALUE
At 29 February 2024 4,978
At 28 February 2023 9,955

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 119,595
Revaluations 16,268
At 29 February 2024 135,863
NET BOOK VALUE
At 29 February 2024 135,863
At 28 February 2023 119,595

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 16,268
Cost 119,595
135,863

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 305 375
Other debtors 926 542
1,231 917

L, L & FAITH LTD (REGISTERED NUMBER: 12118055)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 1,926 -
Taxation and social security 1,671 811
Other creditors 136,659 146,609
140,256 147,420

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 March 2023 (12,852 )
Profit for the year 15,326
At 29 February 2024 2,474

Reserves include £13,177 which is not distributable. This relates to the unrealised revaluation of an investment property less the deferred tax effects.

10. GOING CONCERN

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.