Company Registration No. 12490402 (England and Wales)
Logini Properties Ltd
Unaudited accounts
for the year ended 29 February 2024
Logini Properties Ltd
Unaudited accounts
Contents
Logini Properties Ltd
Company Information
for the year ended 29 February 2024
Director
Mr Sivasubramaniam Surenkumar
Company Number
12490402 (England and Wales)
Registered Office
77 Herent Drive Herent Drive
Ilford
IG5 0HF
United Kingdom
Accountants
Daniel Consultancy
Morritt House
54-60 Station Approach
South Ruislip
Ruislip
HA4 6SA
Logini Properties Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
1,726
2,157
Investment property
4,724,738
4,724,738
Cash at bank and in hand
3,382
15,060
Creditors: amounts falling due within one year
(769,587)
(824,757)
Net current liabilities
(644,792)
(809,697)
Total assets less current liabilities
4,081,672
3,917,198
Creditors: amounts falling due after more than one year
(4,106,994)
(3,938,355)
Net liabilities
(25,322)
(21,157)
Called up share capital
1
1
Profit and loss account
(25,323)
(21,158)
Shareholders' funds
(25,322)
(21,157)
For the year ending 29 February 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 his 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 29 November 2024 and were signed on its behalf by
Mr Sivasubramaniam Surenkumar
Director
Company Registration No. 12490402
Logini Properties Ltd
Notes to the Accounts
for the year ended 29 February 2024
Logini Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 12490402. The registered office is 77 Herent Drive Herent Drive, Ilford, IG5 0HF, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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:
Fixtures & fittings
20% Reducing balance
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.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
Logini Properties Ltd
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 March 2023
4,724,738
At 29 February 2024
4,724,738
Amounts falling due within one year
Accrued income and prepayments
2,095
-
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,644
1,593
Other creditors
757,541
617,657
Loans from directors
-
202,075
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
4,106,994
3,938,355
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).