Company Registration No. 13178283 (England and Wales)
LTL Company Ltd
Unaudited accounts
for the year ended 29 February 2024
LTL Company Ltd
Unaudited accounts
Contents
LTL Company Ltd
Company Information
for the year ended 29 February 2024
Director
Rhys Colin Patrick Little
Company Number
13178283 (England and Wales)
Registered Office
71-75 Shelton Street
London
Greater London
WC2H 9JQ
UK
LTL Company Ltd
Statement of financial position
as at 29 February 2024
Investment property
395,643
395,643
Cash at bank and in hand
3,021
9,908
Creditors: amounts falling due within one year
(562,515)
(550,161)
Net current liabilities
(160,924)
(167,096)
Total assets less current liabilities
234,719
228,547
Creditors: amounts falling due after more than one year
(237,250)
(237,250)
Net liabilities
(2,531)
(8,703)
Called up share capital
1
1
Profit and loss account
(2,532)
(8,704)
Shareholders' funds
(2,531)
(8,703)
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 26 November 2024 and were signed on its behalf by
Rhys Colin Patrick Little
Director
Company Registration No. 13178283
LTL Company Ltd
Notes to the Accounts
for the year ended 29 February 2024
LTL Company Ltd is a private company, limited by shares, registered in England and Wales, registration number 13178283. The registered office is 71-75 Shelton Street, London, Greater London, WC2H 9JQ, UK.
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 represents rents receivable during the period in respect of the investment property held by the company.
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.
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 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.
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.
LTL Company Ltd
Notes to the Accounts
for the year ended 29 February 2024
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the director has made the following judgements:
Determine whether there are indicators of impairment of the company's investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Fair value at 1 March 2023
395,643
At 29 February 2024
395,643
Amounts falling due within one year
Other debtors
398,570
373,157
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
6,413
94,161
Other creditors
556,000
456,000
Other creditors includes a loan totalling £556,000 (2023: £456,000) due to Inrehearsal Limited. The loan is non interest bearing, unsecured and repayable on demand.
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
237,250
237,250
The bank loan represents an interest only mortgage with a term of 25 years. The loan was fully drawdown on 16 June 2021 and bears interest at a fixed rate of 3.64%. The mortgage is secured against the investment property included within these accounts.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Rhys Colin Patrick Little
Directors Loan
278,995
19,000
-
297,995
LTL Company Ltd
Notes to the Accounts
for the year ended 29 February 2024
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).