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London & Colonial Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 03741818
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 610,000 610,000
610,000 610,000
CURRENT ASSETS
Cash at bank and in hand 6,114 6,100
6,114 6,100
Creditors: Amounts Falling Due Within One Year 6 (160,972 ) (182,964 )
NET CURRENT ASSETS (LIABILITIES) (154,858 ) (176,864 )
TOTAL ASSETS LESS CURRENT LIABILITIES 455,142 433,136
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (120,046 ) (120,046 )
NET ASSETS 335,096 313,090
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 360,139 360,139
Profit and Loss Account (25,143 ) (47,149 )
SHAREHOLDERS' FUNDS 335,096 313,090
Page 1
Page 2
For the year ending 31 March 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
D Rowe
Director
30 January 2025
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
London & Colonial Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03741818 . The registered office is 2nd Floor Butler House, 177-178 Tottenham Court Road, London, W1T 7AF.
The presentation currency of the financial statements is Pound Sterling (£).
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover represents amounts receivable for the rental of property net of VAT.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33% on cost
2.5. Investment Properties
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.
2.6. 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 balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 514
As at 31 March 2024 514
Depreciation
As at 1 April 2023 514
As at 31 March 2024 514
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 610,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accrued Expense 781 781
Directors' loan accounts 160,191 182,183
160,972 182,964
7. Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.
2024 2023
£ £
Other timing differences 120,046 120,046
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Reserves
Revaluation Reserve
£
As at 1 April 2023 360,139
As at 31 March 2024 360,139
10. Ultimate Controlling Party
The company's controlling party is D Rowe by virtue of her ownership of 95% of the issued share capital in the company.
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