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Registration number: 14801359

LOL Properties Ltd

Unaudited Filleted Financial Statements

for the Period from 14 April 2023 to 30 April 2024

 

LOL Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

LOL Properties Ltd

Company Information

Director

Mr J M Weston

Registered office

15 Drakes Avenue
Leighton Buzzard
Bedfordshire
LU7 3AF

Accountants

Red Dot Accountants Ltd 15 Olympic Court
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU

 

LOL Properties Ltd

(Registration number: 14801359)
Balance Sheet as at 30 April 2024

Note

2024
£

Fixed assets

 

Investment property

4

1,383,139

Current assets

 

Debtors

5

10,603

Cash at bank and in hand

 

18,360

 

28,963

Creditors: Amounts falling due within one year

6

(1,396,663)

Net current liabilities

 

(1,367,700)

Net assets

 

15,439

Capital and reserves

 

Called up share capital

7

300

Retained earnings

15,139

Shareholders' funds

 

15,439

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 January 2025
 

.........................................
Mr J M Weston
Director

 

LOL Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 14 April 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
15 Drakes Avenue
Leighton Buzzard
Bedfordshire
LU7 3AF
England

These financial statements were authorised for issue by the director on 11 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the rental income receivable in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses 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 profit or loss.

 

LOL Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 14 April 2023 to 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Investment properties

2024
£

Additions

1,383,139

At 30 April

1,383,139

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

Trade debtors

5,070

Prepayments

1,933

Other debtors

3,600

 

10,603

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

6,254

Accruals and deferred income

5,609

Other creditors

1,384,800

1,396,663

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary A shares of £1 each

100

100

Ordinary B shares of £1 each

100

100

Ordinary C shares of £1 each

100

100

300

300