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Company Registration No. 08880677 (England and Wales)
Lowe & Co Properties Limited Unaudited accounts for the year ended 31 March 2024
Lowe & Co Properties Limited Unaudited accounts Contents
Page
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Lowe & Co Properties Limited Company Information for the year ended 31 March 2024
Director
P Lowe
Company Number
08880677 (England and Wales)
Registered Office
39 College Street Petersfield Hampshire GU31 4AG
Accountants
Newnham & Son Ltd School Master's House 39 College Street Petersfield Hampshire GU31 4AG
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Lowe & Co Properties Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,179 
1,768 
Current assets
Inventories
- 
1,239,308 
Debtors
51,072 
51,072 
Investments
34,839 
34,839 
Cash at bank and in hand
202 
679 
86,113 
1,325,898 
Creditors: amounts falling due within one year
(922,522)
(1,104,970)
Net current (liabilities)/assets
(836,409)
220,928 
Total assets less current liabilities
(835,230)
222,696 
Creditors: amounts falling due after more than one year
- 
(957,051)
Net liabilities
(835,230)
(734,355)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(835,330)
(734,455)
Shareholders' funds
(835,230)
(734,355)
For the year ending 31 March 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 4 December 2024 and were signed on its behalf by
P Lowe Director Company Registration No. 08880677
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Lowe & Co Properties Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Lowe & Co Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 08880677. The registered office is 39 College Street, Petersfield, Hampshire, GU31 4AG.
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.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continues to adopt the going concern basis of accounting in preparing the financial statements.
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
33.33% reducing balance
Stock
Stock has been valued at the lower of cost and estimated selling price less costs to complete and sell. Cost of property under development comprises of purchase price, incidental costs, and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit and loss.
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Lowe & Co Properties Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2023
8,705 
At 31 March 2024
8,705 
Depreciation
At 1 April 2023
6,937 
Charge for the year
589 
At 31 March 2024
7,526 
Net book value
At 31 March 2024
1,179 
At 31 March 2023
1,768 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
44,010 
44,010 
Amounts falling due after more than one year
Other debtors
7,062 
7,062 
6
Investments held as current assets
2024 
2023 
£ 
£ 
Unlisted investments
34,839 
34,839 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
(1,200)
(1,200)
Loans from directors
922,702 
1,104,130 
Accruals
1,020 
2,040 
922,522 
1,104,970 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
957,051 
The bank loan totalling £756,175 is secured by a fixed charge over the property owned by the company included within stocks.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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