London UK Property Construction and Management Ltd |
Registered number: |
12187567 |
Balance Sheet |
as at 30 September 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Investments |
3 |
|
|
901,284 |
|
|
- |
|
Current assets |
Debtors |
4 |
|
1,255 |
|
|
- |
Cash at bank and in hand |
|
|
244 |
|
|
100 |
|
|
|
1,499 |
|
|
100 |
|
Creditors: amounts falling due within one year |
5 |
|
(758,987) |
|
|
- |
|
Net current (liabilities)/assets |
|
|
|
(757,488) |
|
|
100 |
|
Net assets |
|
|
|
143,796 |
|
|
100 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
143,696 |
|
|
- |
|
Shareholder's funds |
|
|
|
143,796 |
|
|
100 |
|
|
|
|
|
|
|
|
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. |
|
|
|
|
Mr M Ganesan |
Director |
Approved by the board on 15 January 2025 |
|
London UK Property Construction and Management Ltd |
Notes to the Accounts |
for the year ended 30 September 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 includes rents receivable from investment properties and is recognised when it is received from the tenant or lettings agent. Turnover may also include the sale proceeds of properties, turnover is recognised in respect of this on the date of sale completion. |
|
|
Investments |
|
Investment property is not depreciated but is revalued annually at its fair value in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
3 |
Investments |
|
Investment |
property |
£ |
|
Fair value |
|
Additions |
755,321 |
|
Revaluation |
145,963 |
|
|
At 30 September 2024 |
901,284 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 30 September 2024 |
755,321 |
|
|
|
|
|
|
|
|
|
|
Investment property was valued on fair value basis on 30 September 2024 by the director based on available market data. |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Prepayments |
|
|
|
|
1,255 |
|
- |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
15,109 |
|
- |
|
Accruals |
744 |
|
- |
|
Directors loan account |
496,834 |
|
- |
|
Other creditors |
246,300 |
|
- |
|
|
|
|
|
|
758,987 |
|
- |
|
|
|
|
|
|
|
|
|
|
A third party charge is held in relation to 1 investment property, as at the balance sheet date this amounts to £175,000 and is included within 'other creditors'. |
|
|
6 |
Related party transactions |
|
|
During the year a loan was received from Scarmans Limited, a company in which the director is a 100% shareholder.The loan is interest-free and is considered repayable upon demand. The amount outstanding at the balance sheet date was £61,300 (2023: £nil). |
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|
7 |
Controlling party |
|
|
The company is controlled by Mr M Ganesan by virtue of his 100% shareholding. |
|
|
8 |
Other information |
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London UK Property Construction and Management Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Babbington Mews |
|
18s Cross Green |
|
Rothley |
|
Leicestershire |
|
LE7 7PF |