LS41 Ltd SC760525 false 2023-02-28 2024-02-28 2024-02-28 The principal activity of the company is buying and selling of own real estate, other letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true true SC760525 2023-02-28 2024-02-28 SC760525 2024-02-28 SC760525 core:CurrentFinancialInstruments 2024-02-28 SC760525 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 SC760525 core:LandBuildings 2024-02-28 SC760525 bus:SmallEntities 2023-02-28 2024-02-28 SC760525 bus:AuditExemptWithAccountantsReport 2023-02-28 2024-02-28 SC760525 bus:FilletedAccounts 2023-02-28 2024-02-28 SC760525 bus:SmallCompaniesRegimeForAccounts 2023-02-28 2024-02-28 SC760525 bus:RegisteredOffice 2023-02-28 2024-02-28 SC760525 bus:Director1 2023-02-28 2024-02-28 SC760525 bus:Director2 2023-02-28 2024-02-28 SC760525 bus:PrivateLimitedCompanyLtd 2023-02-28 2024-02-28 SC760525 core:LandBuildings 2023-02-28 2024-02-28 SC760525 countries:UnitedKingdom 2023-02-28 2024-02-28 iso4217:GBP xbrli:pure

Registration number: SC760525

LS41 Ltd

Unaudited Financial Statements

for the Period from 28 February 2023 to 28 February 2024

 

LS41 Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

LS41 Ltd

(Registration number: SC760525)
Statement of Financial Position as at 28 February 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

586,432

Current assets

 

Debtors

5

4,278

Cash at bank and in hand

 

5,086

 

9,364

Creditors: Amounts falling due within one year

6

(697,812)

Net current liabilities

 

(688,448)

Net liabilities

 

(102,016)

Capital and reserves

 

Called up share capital

2

Retained earnings

(102,018)

Shareholders' deficit

 

(102,016)

For the financial period ending 28 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

 

LS41 Ltd

(Registration number: SC760525)
Statement of Financial Position as at 28 February 2024

.........................................
Mr YMI Mattar
Director

.........................................
H Hussain
Director

 

LS41 Ltd

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 28 February 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
29 Commercial Street
Dundee
Tayside
DD1 3DG
Scotland

These financial statements were authorised for issue by the Board on 27 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

LS41 Ltd

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 28 February 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 0.

 

LS41 Ltd

Notes to the Unaudited Financial Statements for the Period from 28 February 2023 to 28 February 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

586,432

586,432

At 28 February 2024

586,432

586,432

Depreciation

Carrying amount

At 28 February 2024

586,432

586,432

Included within the net book value of land and buildings above is £586,432 in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

Other debtors

4,278

 

4,278

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Accruals and deferred income

1,200

Other creditors

696,612

697,812