IRIS Accounts Production v24.2.0.383 09690846 director 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh096908462023-03-31096908462024-03-31096908462023-04-012024-03-31096908462022-03-31096908462022-04-012023-03-31096908462023-03-3109690846ns15:EnglandWales2023-04-012024-03-3109690846ns14:PoundSterling2023-04-012024-03-3109690846ns10:Director12023-04-012024-03-3109690846ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3109690846ns10:SmallEntities2023-04-012024-03-3109690846ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3109690846ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3109690846ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109690846ns10:FullAccounts2023-04-012024-03-3109690846ns10:RegisteredOffice2023-04-012024-03-3109690846ns5:CurrentFinancialInstruments2024-03-3109690846ns5:CurrentFinancialInstruments2023-03-3109690846ns5:Non-currentFinancialInstruments2024-03-3109690846ns5:Non-currentFinancialInstruments2023-03-3109690846ns5:ShareCapital2024-03-3109690846ns5:ShareCapital2023-03-3109690846ns5:RevaluationReserve2024-03-3109690846ns5:RevaluationReserve2023-03-3109690846ns5:RetainedEarningsAccumulatedLosses2024-03-3109690846ns5:RetainedEarningsAccumulatedLosses2023-03-3109690846ns5:FurnitureFittings2023-04-012024-03-3109690846ns5:LeaseholdImprovements2023-03-3109690846ns5:FurnitureFittings2023-03-3109690846ns5:LeaseholdImprovements2023-04-012024-03-3109690846ns5:LeaseholdImprovements2024-03-3109690846ns5:FurnitureFittings2024-03-3109690846ns5:LeaseholdImprovements2023-03-3109690846ns5:FurnitureFittings2023-03-3109690846ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3109690846ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3109690846ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3109690846ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-31
REGISTERED NUMBER: 09690846 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LM PROPERTY LTD

LM PROPERTY LTD (REGISTERED NUMBER: 09690846)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LM PROPERTY LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: L Mulekezi





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 09690846 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

LM PROPERTY LTD (REGISTERED NUMBER: 09690846)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,749 2,224
Investment property 5 2,613,600 2,420,000
2,617,349 2,422,224

CURRENT ASSETS
Debtors 6 7,262 3,324
Cash at bank 68,059 99,950
75,321 103,274
CREDITORS
Amounts falling due within one year 7 26,294 28,526
NET CURRENT ASSETS 49,027 74,748
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,666,376

2,496,972

CREDITORS
Amounts falling due after more than one
year

8

(2,076,427

)

(2,074,944

)

PROVISIONS FOR LIABILITIES (155,937 ) (107,537 )
NET ASSETS 434,012 314,491

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 534,176 388,976
Retained earnings (100,165 ) (74,486 )
434,012 314,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LM PROPERTY LTD (REGISTERED NUMBER: 09690846)

BALANCE SHEET - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





L Mulekezi - Director


LM PROPERTY LTD (REGISTERED NUMBER: 09690846)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

LM Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

LM PROPERTY LTD (REGISTERED NUMBER: 09690846)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 April 2023 - 4,141 4,141
Additions 3,200 - 3,200
At 31 March 2024 3,200 4,141 7,341
DEPRECIATION
At 1 April 2023 - 1,917 1,917
Charge for year 640 1,035 1,675
At 31 March 2024 640 2,952 3,592
NET BOOK VALUE
At 31 March 2024 2,560 1,189 3,749
At 31 March 2023 - 2,224 2,224

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,420,000
Revaluations 193,600
At 31 March 2024 2,613,600
NET BOOK VALUE
At 31 March 2024 2,613,600
At 31 March 2023 2,420,000

Investment property was revalued by the director at the balance sheet date.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 276,513
Valuation in 2023 220,000
Valuation in 2024 193,600
Cost 1,923,487
2,613,600

LM PROPERTY LTD (REGISTERED NUMBER: 09690846)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,294 2,200
Prepayments 968 1,124
7,262 3,324

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,800
Other creditors 1,894 360
Accruals and deferred income 24,400 26,366
26,294 28,526

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 1,448,541 1,447,267
Directors' current accounts 627,886 627,677
2,076,427 2,074,944

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,448,541 1,447,267