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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
Page
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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
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Logini Properties Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,726 
2,157 
Investment property
4,724,738 
4,724,738 
4,726,464 
4,726,895 
Current assets
Debtors
121,413 
- 
Cash at bank and in hand
3,382 
15,060 
124,795 
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)
Capital and reserves
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
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Logini Properties Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
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.
Turnover
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
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.
Financial instruments
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.
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Logini Properties Ltd Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 March 2023
2,995 
At 29 February 2024
2,995 
Depreciation
At 1 March 2023
838 
Charge for the year
431 
At 29 February 2024
1,269 
Net book value
At 29 February 2024
1,726 
At 28 February 2023
2,157 
5
Investment property
2024 
£ 
Fair value at 1 March 2023
4,724,738 
At 29 February 2024
4,724,738 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
2,095 
- 
Other debtors
119,318 
- 
121,413 
- 
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 
Accruals
10,402 
3,432 
769,587 
824,757 
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).
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