1 March 2023 false No description of principal activity Taxfiler 2024.6 13178283business:PrivateLimitedCompanyLtd2023-03-012024-02-29 131782832023-02-28 131782832023-03-012024-02-29 13178283business:AuditExempt-NoAccountantsReport2023-03-012024-02-29 13178283business:FilletedAccounts2023-03-012024-02-29 131782832024-02-29 13178283business:Director12023-03-012024-02-29 13178283business:RegisteredOffice2023-03-012024-02-29 131782832023-02-28 13178283core:WithinOneYear2024-02-29 13178283core:WithinOneYear2023-02-28 13178283core:AfterOneYear2024-02-29 13178283core:AfterOneYear2023-02-28 13178283core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 13178283core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 13178283core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 13178283core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 13178283core:PreviouslyStatedAmount2024-02-29 13178283core:PreviouslyStatedAmount2023-02-28 13178283business:SmallEntities2023-03-012024-02-29 13178283countries:EnglandWales2023-03-012024-02-29 13178283core:WithinOneYear2023-03-012024-02-29 13178283core:AfterOneYear2023-03-012024-02-29 13178283business:Director112023-03-012024-02-29 13178283business:Director112023-02-28 13178283business:Director112024-02-29 131782832022-03-012023-02-28 iso4217:GBP xbrli:pure
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
Page
- 2 -
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
- 3 -
LTL Company Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
395,643 
395,643 
Current assets
Debtors
398,570 
373,157 
Cash at bank and in hand
3,021 
9,908 
401,591 
383,065 
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)
Capital and reserves
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
- 4 -
LTL Company Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
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 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
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.
- 5 -
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.
4
Investment property
2024 
£ 
Fair value at 1 March 2023
395,643 
At 29 February 2024
395,643 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
398,570 
373,157 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
102 
- 
Taxes and social security
6,413 
94,161 
Other creditors
556,000 
456,000 
562,515 
550,161 
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.
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Rhys Colin Patrick Little
Directors Loan
278,995 
19,000 
- 
297,995 
278,995 
19,000 
- 
297,995 
- 6 -
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).
- 7 -