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Company Registration No. 09566522 (England and Wales)
LTM Properties Limited Unaudited accounts for the year ended 30 April 2024
LTM Properties Limited Unaudited accounts Contents
Page
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LTM Properties Limited Company Information for the year ended 30 April 2024
Director
Mrs T Penfold
Company Number
09566522 (England and Wales)
Registered Office
Stills Billingshurst Road Wisborough Green, Billingshurst West Sussex RH14 0DY
Accountants
Susan Appleton Accountancy Ltd 2 Carters Way Wisborough Green Billingshurst West Sussex RH14 0BY
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LTM Properties Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
431 
862 
Investment property
715,000 
639,985 
715,431 
640,847 
Current assets
Debtors
1,664 
1,903 
Cash at bank and in hand
1,068 
5,602 
2,732 
7,505 
Creditors: amounts falling due within one year
(488,954)
(488,147)
Net current liabilities
(486,222)
(480,642)
Total assets less current liabilities
229,209 
160,205 
Creditors: amounts falling due after more than one year
(78,482)
(83,064)
Provisions for liabilities
Deferred tax
(25,933)
(7,806)
Net assets
124,794 
69,335 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
124,694 
69,235 
Shareholders' funds
124,794 
69,335 
For the year ending 30 April 2024 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 director acknowledges her 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 and authorised for issue on 27 November 2024 and were signed on its behalf by
Mrs T Penfold Director Company Registration No. 09566522
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LTM Properties Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
LTM Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 09566522. The registered office is Stills, Billingshurst Road, Wisborough Green, Billingshurst, West Sussex, RH14 0DY.
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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Going concern
The financial statements have been prepared on a going concern basis on the assumption of the continued finanacial support of the directors. If this assumption proves to be inappropriate then adjustments may have to be made to adjust the value of assets to their recoverable amounts, to provide for any further liabilities which might arise and reclassify fixed assets as current assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% of cost.
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LTM Properties Limited Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 May 2023
1,724 
At 30 April 2024
1,724 
Depreciation
At 1 May 2023
862 
Charge for the year
431 
At 30 April 2024
1,293 
Net book value
At 30 April 2024
431 
At 30 April 2023
862 
5
Investment property
2024 
£ 
Fair value at 1 May 2023
639,985 
Net gain from fair value adjustments
75,015 
At 30 April 2024
715,000 
The investment properties class of fixed assets was revalued on 30 April 2024 by the director who is internal to the company. The basis of this valuation was open market basis subject to existing leases. If the properties had been sold at 30 April 2024 at valuation, it is estimated that taking into consideration costs and indexation allowances, corporation tax of £25,933 would be payable on the gain. This class of assets has a current value of £715,000 (2023 : £639,985) and a carrying amount at historical cost of £566,328 (2023 : £566,328). The depreciation on this historic cost is £nil.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,664 
1,903 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,016 
16 
Taxes and social security
- 
229 
Other creditors
2,061 
135 
Loans from directors
476,301 
487,161 
Accruals
9,370 
400 
Deferred income
206 
206 
488,954 
488,147 
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LTM Properties Limited Notes to the Accounts for the year ended 30 April 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
78,482 
83,064 
The company has a loan with Precise Mortgages of £80,438 (2023: £83064) secured on one of the investment properties.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Transactions with related parties
Mrs T Penfold (Director) At the balance sheet date the amount owed to Mrs T Penfold was £476,301 (2023 : £487,161).
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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