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REGISTERED NUMBER: 14246495 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LUSSI PROPERTY INVESTMENTS LTD

LUSSI PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 14246495)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


LUSSI PROPERTY INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr M G Stephens
Mrs A Galteland





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 14246495 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LUSSI PROPERTY INVESTMENTS LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lussi Property Investments Ltd for the year ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lussi Property Investments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lussi Property Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Lussi Property Investments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lussi Property Investments Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lussi Property Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lussi Property Investments Ltd. You consider that Lussi Property Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lussi Property Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


21 January 2025

LUSSI PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 14246495)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31/3/24 31/3/23
Notes £ £ £ £
FIXED ASSETS
Investment property 4 2,278,873 2,256,310

CURRENT ASSETS
Debtors 5 4,287 10,173

CREDITORS
Amounts falling due within one year 6 223,538 14,357
NET CURRENT LIABILITIES (219,251 ) (4,184 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,059,622

2,252,126

CREDITORS
Amounts falling due after more than one
year

7

909,135

1,086,103
NET ASSETS 1,150,487 1,166,023

CAPITAL AND RESERVES
Called up share capital 1 1
Share premium 1,222,549 1,222,549
Retained earnings (72,063 ) (56,527 )
1,150,487 1,166,023

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LUSSI PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 14246495)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2025 and were signed on its behalf by:





Mr M G Stephens - Director


LUSSI PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 14246495)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Lussi Property Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue recognition
Revenue from residential property is recognised on a rent receivable basis to the balance sheet date.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

LUSSI PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 14246495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023 2,256,310
Revaluations 22,563
At 31 March 2024 2,278,873
NET BOOK VALUE
At 31 March 2024 2,278,873
At 31 March 2023 2,256,310

Fair value at 31 March 2024 is represented by:
£
Valuation in 2022 (53,543 )
Valuation in 2023 22,563
Cost 2,309,853
2,278,873

The valuation for year ending 31 March 2024 was updated by the directors to the balance sheet date based their knowledge of the local property and rental markets.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Other debtors 4,287 10,173

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Trade creditors 30,701 -
Amounts owed to participating interests 124,071 -
Other creditors 68,766 14,357
223,538 14,357

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£ £
Bank loans (see note 8) 909,135 1,086,103

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 909,135 1,086,103

LUSSI PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 14246495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. LOANS

An analysis of the maturity of loans is given below:

31/3/24 31/3/23
£ £
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 909,135 1,086,103

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£ £
Bank loans 909,135 1,086,103

10. DEFERRED TAX
£
Balance at 1 April 2023 (10,173 )
Provided during year 5,886
Balance at 31 March 2024 (4,287 )

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors due less than one year is £62,465(2023: £9,257) payable to Mr M G Stephens director of the company.

12. RELATED PARTY DISCLOSURES

At the balance sheet date, £90,071 (2023: Nil) was owed to Stirling Park Properties Ltd, a company in
which the director has beneficial interest and a directorship.
At the balance sheet date, £34,000 (2023: Nil) was owed to M G Stephens Investments Ltd, a company in
which the director has beneficial interest and a directorship.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M G Stephens.