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Registration number: 11270991

My Landlady Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

My Landlady Properties Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

My Landlady Properties Limited

(Registration number: 11270991)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

38,634

49,692

Investment property

5

2,305,190

2,305,190

 

2,343,824

2,354,882

Current assets

 

Debtors

6

18,255

17,969

Cash at bank and in hand

 

29,237

42,902

 

47,492

60,871

Creditors: Amounts falling due within one year

7

(741,269)

(735,147)

Net current liabilities

 

(693,777)

(674,276)

Total assets less current liabilities

 

1,650,047

1,680,606

Creditors: Amounts falling due after more than one year

7

(258,446)

(273,517)

Provisions for liabilities

(9,539)

(12,423)

Net assets

 

1,382,062

1,394,666

Capital and reserves

 

Called up share capital

8

200

200

Share premium reserve

1,356,551

1,356,551

Profit and loss account

25,311

37,915

Shareholders' funds

 

1,382,062

1,394,666

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:
 



 

Mrs Y Newbury
Director

 

My Landlady Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Seafield Meadow Drive
Chestfield
Whitstable
CT5 3NR

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

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.

Going concern
The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

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 current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

 

My Landlady Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Asset class

Depreciation method and rate

Plant and equipment

20% straight line

Motor vehicles

20% straight line

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Cash
Cash comprises cash on hand and all deposits.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2023 - 0).

 

My Landlady Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Plant and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 May 2023

458

54,829

55,287

At 30 April 2024

458

54,829

55,287

Depreciation

At 1 May 2023

100

5,495

5,595

Charge for the year

92

10,966

11,058

At 30 April 2024

192

16,461

16,653

Net book value

At 30 April 2024

266

38,368

38,634

At 30 April 2023

358

49,334

49,692

5

Investment property

2024
£

2023
£

At 1 May

2,305,190

2,305,190

At 30 April

2,305,190

2,305,190

The directors have reviewed the market value of the properties using current market data for similar properties in the same areas and consider that there is no significant change at the balance sheet date.

6

Debtors

2024
£

2023
£

Prepayments

18,255

17,969

18,255

17,969

 

My Landlady Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

20,707

17,070

Taxation and social security

-

178

Other creditors

31,367

27,927

Other loans

683,873

670,254

Accruals

5,322

19,718

741,269

735,147

Creditors: amounts falling due after more than one year

2024
£

2023
£

Bank loans

258,446

273,517

258,446

273,517

Creditors include bank loans which are secured on the investment properties they relate to in the sum of £258,446 (2023 - £273,517) and are repayable after more than five years, other than by instalments.

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £0.01 each

10,000

100

10,000

100

Ordinary B shares of £0.01 each

10,000

100

10,000

100

 

20,000

200

20,000

200

9

Related party transactions

Directors’ loan

The directors' provided the company with a loan on which interest was charged.