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REGISTERED NUMBER: 09780890 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

L2 Property Development Ltd

L2 Property Development Ltd (Registered number: 09780890)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


L2 Property Development Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mrs V Leighton
A J Leighton
J Leighton
Mrs R Leighton





SECRETARY:





REGISTERED OFFICE: Grayshurst
Highercombe Road
Haslemere
GU27 2LH





REGISTERED NUMBER: 09780890 (England and Wales)





ACCOUNTANTS: A S TAXATION LIMITED
59 Lancaster Avenue
Guildford
Surrey
GU1 3JR

L2 Property Development Ltd (Registered number: 09780890)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,125 4,166

CURRENT ASSETS
Stocks 66,191 66,191
Debtors 5 12,896 947
Cash at bank 18,817 48,411
97,904 115,549
CREDITORS
Amounts falling due within one year 6 33,742 27,312
NET CURRENT ASSETS 64,162 88,237
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,287

92,403

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 67,087 92,203
SHAREHOLDERS' FUNDS 67,287 92,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





A J Leighton - Director


L2 Property Development Ltd (Registered number: 09780890)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

L2 Property Development 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 4 (2023 - NIL ) .

L2 Property Development Ltd (Registered number: 09780890)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 19,971 2,147 22,118
DEPRECIATION
At 1 October 2023 15,805 2,147 17,952
Charge for year 1,041 - 1,041
At 30 September 2024 16,846 2,147 18,993
NET BOOK VALUE
At 30 September 2024 3,125 - 3,125
At 30 September 2023 4,166 - 4,166

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 12,896 947

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 3,446 3,282
Taxation and social security 15,137 10,298
Other creditors 15,159 13,732
33,742 27,312

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
A J Leighton
Balance outstanding at start of year 2 (8,182 )
Amounts advanced - 8,184
Amounts repaid (1,995 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,993 ) 2

J Leighton
Balance outstanding at start of year (608 ) (1,125 )
Amounts advanced - 517
Amounts repaid (864 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,472 ) (608 )