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REGISTERED NUMBER: 05424719 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

LIGHTACE ESTATES LTD

LIGHTACE ESTATES LTD (REGISTERED NUMBER: 05424719)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LIGHTACE ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mrs Fanny Hochhauser





REGISTERED OFFICE: 99 Clapton Common
London
E5 9AB





REGISTERED NUMBER: 05424719 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

LIGHTACE ESTATES LTD (REGISTERED NUMBER: 05424719)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,830 3,329
Investment property 5 750,000 1,300,000
752,830 1,303,329

CURRENT ASSETS
Debtors 6 537,485 105,884
Cash at bank 2,338 44,669
539,823 150,553
CREDITORS
Amounts falling due within one year 7 (206,009 ) (151,336 )
NET CURRENT ASSETS/(LIABILITIES) 333,814 (783 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,086,644

1,302,546

CREDITORS
Amounts falling due after more than one
year

8

(298,254

)

(578,155

)
NET ASSETS 788,390 724,391

CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 11 437,636 613,474
Retained earnings 11 350,753 110,916
SHAREHOLDERS' FUNDS 788,390 724,391

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

LIGHTACE ESTATES LTD (REGISTERED NUMBER: 05424719)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 director and authorised for issue on 29 January 2025 and were signed by:





Mrs Fanny Hochhauser - Director


LIGHTACE ESTATES LTD (REGISTERED NUMBER: 05424719)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Lightace Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net rent receivable, excluding value added tax.

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 - 15% on reducing balance

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).

LIGHTACE ESTATES LTD (REGISTERED NUMBER: 05424719)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023
and 30 April 2024 23,386
DEPRECIATION
At 1 May 2023 20,057
Charge for year 499
At 30 April 2024 20,556
NET BOOK VALUE
At 30 April 2024 2,830
At 30 April 2023 3,329

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 1,300,000
Disposals (374,162 )
Revaluations (175,838 )
At 30 April 2024 750,000
NET BOOK VALUE
At 30 April 2024 750,000
At 30 April 2023 1,300,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2017 613,474
Valuation in 2024 (175,838 )
Cost 312,364
750,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 3,266 3,930
Other debtors 534,219 101,954
537,485 105,884

LIGHTACE ESTATES LTD (REGISTERED NUMBER: 05424719)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Taxation and social security 43,160 12,290
Other creditors 162,849 139,046
206,009 151,336

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 298,254 578,155

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 298,254 578,155

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 298,254 578,155

The mortgage is secured by a first charge over the company's investment properties and bear interest at variable rates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2023 110,916 613,474 724,390
Profit for the year 63,999 63,999
Revaluation 175,838 (175,838 ) -
At 30 April 2024 350,753 437,636 788,389

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs Fanny Hochhauser.