1 1 Lopez Lettings Ltd 11967899 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is owing and letting of property Digita Accounts Production Advanced 6.30.9574.0 true 11967899 2023-05-01 2024-04-30 11967899 2024-04-30 11967899 bus:OrdinaryShareClass1 bus:OtherShareType 2024-04-30 11967899 core:CurrentFinancialInstruments 2024-04-30 11967899 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 11967899 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 11967899 core:LandBuildings 2024-04-30 11967899 bus:SmallEntities 2023-05-01 2024-04-30 11967899 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11967899 bus:FilletedAccounts 2023-05-01 2024-04-30 11967899 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11967899 bus:RegisteredOffice 2023-05-01 2024-04-30 11967899 bus:Director1 2023-05-01 2024-04-30 11967899 bus:OrdinaryShareClass1 bus:OtherShareType 2023-05-01 2024-04-30 11967899 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11967899 bus:Agent1 2023-05-01 2024-04-30 11967899 core:LandBuildings 2023-05-01 2024-04-30 11967899 core:OtherRelatedParties 2023-05-01 2024-04-30 11967899 countries:EnglandWales 2023-05-01 2024-04-30 11967899 2023-04-30 11967899 core:LandBuildings 2023-04-30 11967899 2022-05-01 2023-04-30 11967899 2023-04-30 11967899 bus:OrdinaryShareClass1 bus:OtherShareType 2023-04-30 11967899 core:CurrentFinancialInstruments 2023-04-30 11967899 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11967899 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 11967899 core:LandBuildings 2023-04-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 11967899

Lopez Lettings Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Lopez Lettings Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Lopez Lettings Ltd

Company Information

Director

C LÓPEZ QUIÑOY

Registered office

116 Thyme Avenue
Whiteley
Fareham
Hampshire
PO15 7GF

Accountants

Keith Powers FCA 51 Burridge Road
Southampton
SO31 1BY

 

Lopez Lettings Ltd

(Registration number: 11967899)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

270,280

270,280

Current assets

 

Debtors

100

-

Cash at bank and in hand

 

4,515

5,429

 

4,615

5,429

Creditors: Amounts falling due within one year

(3,164)

(3,066)

Net current assets

 

1,451

2,363

Total assets less current liabilities

 

271,731

272,643

Creditors: Amounts falling due after more than one year

5.1

(273,980)

(273,980)

Net liabilities

 

(2,249)

(1,337)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(2,349)

(1,437)

Shareholders' deficit

 

(2,249)

(1,337)

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.

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

 

Lopez Lettings Ltd

(Registration number: 11967899)
Abridged Balance Sheet as at 30 April 2024

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 15 January 2025
 

.........................................
C LÓPEZ QUIÑOY
Director

 

Lopez Lettings Ltd

Notes to the Unaudited Abridged 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:
116 Thyme Avenue
Whiteley
Fareham
Hampshire
PO15 7GF

These financial statements were authorised for issue by the director on 15 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 abridged 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 abridged 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 fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Lopez Lettings Ltd

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Not depreciated as the value of the property is expected to increase.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Lopez Lettings Ltd

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

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 May 2023

270,280

270,280

At 30 April 2024

270,280

270,280

Depreciation

Carrying amount

At 30 April 2024

270,280

270,280

At 30 April 2023

270,280

270,280

Included within the net book value of land and buildings above is £270,280 (2023 - £270,280) in respect of freehold land and buildings.
 

5

Creditors

Creditors: amounts falling due after more than one year


Loans and borrowings include a Sterling Property Investment Loan Facility of £84,480. The loan is secured by:

A first legal charge over the property at 3 Forth Close, Chandlers Ford, Hampshire;
A guarantee for £82,000 by the director;
A debenture granted by the company including a fixed and floating charge over all of the assets of the company both now and in the future.

Interest is charged on a floating rate basis which shall not be less than 2.5%pa and is currently 6.8%pa.

The chargor covenants with the Security Trustee that it will pay or discharge on demand the secured obligations on the dates on which such Secured Obligations are expressed to become due and in the manner provided for in the document under which liability for such Secured Obligations arises.

 

Lopez Lettings Ltd

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

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.10 each

1,000

100

1,000

100

       

7

Related party transactions

Summary of transactions with other related parties

The company is under the control of the Director, C Lopez Quinoy who owns the total issued equity share capital
The director has paid certain of the expenses of the company and the amount outstanding of £3,165 (2023; £3,065) is included in other creditors. The loan is unsecured, free of interest and has no fixed terms of repayment. The director has given an undertaking not to require repayment untill such time as the company's finance permit.

Included in non-current loans and borrowings is a loan from the director of £189,500 due after more than 5 years. The loan is unsecured, free of interest and has no fixed terms of repayment. The director has given an undertaking not to require repayment untill such time as the company's finance permit.


Except as otherwise disclosed in these accounts, there were no transactions with related parties requiring disclosure in terms of S1a of FRS102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, or the Companies Act, 2006.