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Company Registration No. 02792696 (England and Wales)
Lodage Properties Limited Unaudited accounts for the year ended 30 April 2024
Lodage Properties Limited Unaudited accounts Contents
Page
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Lodage Properties Limited Company Information for the year ended 30 April 2024
Directors
Farid Motamed Richard Turner
Company Number
02792696 (England and Wales)
Registered Office
Old Vyne House West Heath Basingstoke RG26 5LE
Accountants
Black & White Chartered Certified Accountants 2-3 Stable Court Herriard Park Herriard Hampshire RG25 2PL
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Lodage Properties Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,352 
1,502 
Investment property
2,705,000 
2,635,000 
2,706,352 
2,636,502 
Current assets
Debtors
510,904 
573,772 
Cash at bank and in hand
7,193 
40,746 
518,097 
614,518 
Creditors: amounts falling due within one year
(877,433)
(937,298)
Net current liabilities
(359,336)
(322,780)
Total assets less current liabilities
2,347,016 
2,313,722 
Provisions for liabilities
Deferred tax
(513,950)
(216,601)
Net assets
1,833,066 
2,097,121 
Capital and reserves
Called up share capital
98,733 
98,733 
Share premium
2,787 
2,787 
Fair value reserve
696,056 
923,405 
Capital redemption reserve
39,480 
39,480 
Profit and loss account
996,010 
1,032,716 
Shareholders' funds
1,833,066 
2,097,121 
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by
Farid Motamed Director Company Registration No. 02792696
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Lodage Properties Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Lodage Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 02792696. The registered office is Old Vyne House, West Heath, Basingstoke, RG26 5LE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover
Turnover is in respect on rental income and recognised at the fair value of the consideration received or receivable, and is shown net of VAT and other sales related taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% reducing balance
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS102 to all of its financial instruments. Financial Instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities ate offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Deferred taxation
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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Lodage Properties Limited Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 May 2023
21,228 
At 30 April 2024
21,228 
Depreciation
At 1 May 2023
19,726 
Charge for the year
150 
At 30 April 2024
19,876 
Net book value
At 30 April 2024
1,352 
At 30 April 2023
1,502 
5
Investment property
2024 
£ 
Fair value at 1 May 2023
2,635,000 
Net gain from fair value adjustments
70,000 
At 30 April 2024
2,705,000 
The majority of the investment properties were acquired in the 1990's, with a directors' formal valuation recorded in the financial statements for the year ended 30 April 2015. The directors' estimate of the fair value is not considered to be materially different at the year end, and the historical cost of these properties is £1,494,994.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
510,904 
573,772 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
275,784 
317,622 
Taxes and social security
8,964 
46,253 
Other creditors
552,902 
552,902 
Loans from directors
38,398 
19,206 
Accruals
1,385 
1,315 
877,433 
937,298 
The long term loans are secured by fixed charges over more than 5 years, and relate to the respective investment properties.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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