Registered number
11966054
Lumini Lettings Ltd
Accounts
For the year ended
30 April 2024
Oakensen
Chartered Accountants
Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
Lumini Lettings Ltd
Registered number: 11966054
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 310,000 310,000
Current assets
Debtors 4 9,841 -
Cash at bank and in hand 1,643 9,236
11,484 9,236
Creditors: amounts falling due within one year 5 (9,592) (10,049)
Net current assets/(liabilities) 1,892 (813)
Total assets less current liabilities 311,892 309,187
Creditors: amounts falling due after more than one year 6 (270,520) (273,069)
Provisions for liabilities (7,832) (9,033)
Net assets 33,540 27,085
Capital and reserves
Called up share capital 1 1
Non distributable revenue reserve 8 33,388 32,187
Profit and loss account 151 (5,103)
Shareholder's funds 33,540 27,085
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H J Richards
Director
Approved by the board on 4 January 2025
Lumini Lettings Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised when rents are receivable.
Investment Property
Investment property is initially recognised at cost and then carried at fair value, derived from the current market prices for comparable property determined annually by the director using observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit or loss account.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investment property
Investment
property
£
Cost
At 1 May 2023 310,000
At 30 April 2024 310,000
Historical cost
At 1 May 2023 268,780
At 30 April 2024 268,780
4 Debtors 2024 2023
£ £
Other debtors 9,841 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,770 6,770
Taxation and social security costs 1,480 1,254
Other creditors 1,342 2,025
9,592 10,049
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 184,463 184,463
Amounts owed to group undertakings and undertakings in which the company has a participating interest 86,057 88,606
270,520 273,069
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 191,233 191,233
The company has a mortgage with Keystone Property Finance Ltd. The mortgage is secured on the property owned by the company.
8 Non distributable revenue reserve 2024 2023
£ £
At 1 May 2023 32,187 32,187
Deferred taxation arising on the revaluation of land and buildings 1,201 -
At 30 April 2024 33,388 32,187
9 Related party transactions
At the year end the company owed £86,057 (2023 - £88,606) to Lumini Developments Ltd, a company controlled by the director.
10 Other information
Lumini Lettings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 9 Riverside Court
Bath
BA2 3DZ
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