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Registered number: 10135810
LCX Property Investment Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Burns & Co (Accountants) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10135810
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,104,373 1,366,872
Investments 5 100 100
1,104,473 1,366,972
CURRENT ASSETS
Debtors 6 441,104 451,056
Cash at bank and in hand 13,005 4,029
454,109 455,085
Creditors: Amounts Falling Due Within One Year 7 (1,175,452 ) (1,445,922 )
NET CURRENT ASSETS (LIABILITIES) (721,343 ) (990,837 )
TOTAL ASSETS LESS CURRENT LIABILITIES 383,130 376,135
NET ASSETS 383,130 376,135
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 10 56,244 112,205
Profit and Loss Account 326,786 263,830
SHAREHOLDERS' FUNDS 383,130 376,135
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jing Xing
Director
08/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
LCX Property Investment Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10135810 . The registered office is 2a Bank Street, Tonbridge, TN9 1BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Investment Property
2024
£
Fair Value
As at 1 May 2023 1,366,872
Additions 57,501
Disposals (320,000 )
As at 30 April 2024 1,104,373
Page 3
Page 4
5. Investments
Unlisted
£
Cost
As at 1 May 2023 100
As at 30 April 2024 100
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 100
As at 1 May 2023 100
6. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 441,104 451,056
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 492 493
Bank loans and overdrafts 216,000 416,160
Other taxes and social security 84 84
Other creditors 98,500 98,500
Accruals and deferred income 850 850
Directors' loan accounts 859,526 929,835
1,175,452 1,445,922
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 2,000 -
Page 4
Page 5
10. Reserves
Revaluation Reserve
£
As at 1 May 2023 112,205
Transfer to profit and loss (55,961 )
As at 30 April 2024 56,244
Page 5