6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-02 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP NI006275 2023-02-02 2024-02-01 NI006275 2024-02-01 NI006275 2023-02-01 NI006275 2022-02-02 2023-02-01 NI006275 2023-02-01 NI006275 2022-02-01 NI006275 bus:Director1 2023-02-02 2024-02-01 NI006275 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-01 NI006275 core:LandBuildings core:LongLeaseholdAssets 2024-02-01 NI006275 core:WithinOneYear 2024-02-01 NI006275 core:WithinOneYear 2023-02-01 NI006275 core:AfterOneYear 2024-02-01 NI006275 core:AfterOneYear 2023-02-01 NI006275 core:ShareCapital 2024-02-01 NI006275 core:ShareCapital 2023-02-01 NI006275 core:RevaluationReserve 2024-02-01 NI006275 core:RevaluationReserve 2023-02-01 NI006275 core:RetainedEarningsAccumulatedLosses 2024-02-01 NI006275 core:RetainedEarningsAccumulatedLosses 2023-02-01 NI006275 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 NI006275 core:LandBuildings core:LongLeaseholdAssets 2023-02-01 NI006275 bus:SmallEntities 2023-02-02 2024-02-01 NI006275 bus:AuditExemptWithAccountantsReport 2023-02-02 2024-02-01 NI006275 bus:SmallCompaniesRegimeForAccounts 2023-02-02 2024-02-01 NI006275 bus:PrivateLimitedCompanyLtd 2023-02-02 2024-02-01 NI006275 bus:FullAccounts 2023-02-02 2024-02-01
COMPANY REGISTRATION NUMBER: NI006275
Loopland Estates Limited
Filleted Unaudited Financial Statements
1 February 2024
Loopland Estates Limited
Statement of Financial Position
1 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
4,950,000
4,950,000
Current assets
Debtors
6
58,594
50,057
Cash at bank and in hand
237,943
253,491
---------
---------
296,537
303,548
Creditors: amounts falling due within one year
7
351,040
361,302
---------
---------
Net current liabilities
54,503
57,754
------------
------------
Total assets less current liabilities
4,895,497
4,892,246
Creditors: amounts falling due after more than one year
8
299,490
423,406
Provisions
Taxation including deferred tax
( 350,721)
( 350,721)
------------
------------
Net assets
4,245,286
4,118,119
------------
------------
Capital and reserves
Called up share capital
2
2
Fair value reserve
1,508,103
1,508,103
Profit and loss account
2,737,181
2,610,014
------------
------------
Shareholders funds
4,245,286
4,118,119
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 1 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Loopland Estates Limited
Statement of Financial Position (continued)
1 February 2024
These financial statements were approved by the board of directors and authorised for issue on 3 December 2024 , and are signed on behalf of the board by:
Mr B. Bodner
Director
Company registration number: NI006275
Loopland Estates Limited
Notes to the Financial Statements
Year ended 1 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 ODH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account consists solely of rents received.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
All fixed assets are shown at the directors' valuation as at the Balance Sheet date.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Tangible assets
Freehold property
Long leasehold property
Total
£
£
£
Cost
At 2 February 2023 and 1 February 2024
3,350,000
1,600,000
4,950,000
------------
------------
------------
Depreciation
At 2 February 2023 and 1 February 2024
------------
------------
------------
Carrying amount
At 1 February 2024
3,350,000
1,600,000
4,950,000
------------
------------
------------
At 1 February 2023
3,350,000
1,600,000
4,950,000
------------
------------
------------
6. Debtors
2024
2023
£
£
Trade debtors
44,584
40,551
Other debtors
14,010
9,506
--------
--------
58,594
50,057
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
124,321
132,038
Trade creditors
40,009
45,922
Corporation tax
40,261
26,802
Social security and other taxes
10,941
12,314
Other creditors
135,508
144,226
---------
---------
351,040
361,302
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
299,490
423,406
---------
---------
9. Related party transactions
The company was not under the control of any one individual throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.