Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 05531508 Mr Robert Mulvey Mrs Kelliane Kendrick The Lough's Group Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05531508 2023-04-30 05531508 2024-04-30 05531508 2023-05-01 2024-04-30 05531508 frs-core:CurrentFinancialInstruments 2024-04-30 05531508 frs-core:Non-currentFinancialInstruments 2024-04-30 05531508 frs-core:FurnitureFittings 2024-04-30 05531508 frs-core:FurnitureFittings 2023-05-01 2024-04-30 05531508 frs-core:FurnitureFittings 2023-04-30 05531508 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 05531508 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05531508 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 05531508 frs-core:MotorVehicles 2024-04-30 05531508 frs-core:MotorVehicles 2023-05-01 2024-04-30 05531508 frs-core:MotorVehicles 2023-04-30 05531508 frs-core:RevaluationReserve 2023-04-30 05531508 frs-core:RevaluationReserve 2024-04-30 05531508 frs-core:ShareCapital 2024-04-30 05531508 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 05531508 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05531508 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 05531508 frs-bus:SmallEntities 2023-05-01 2024-04-30 05531508 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05531508 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05531508 1 2023-05-01 2024-04-30 05531508 frs-core:UnlistedNon-exchangeTraded 2024-04-30 05531508 frs-core:UnlistedNon-exchangeTraded 2023-04-30 05531508 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-04-30 05531508 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-04-30 05531508 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-04-30 05531508 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-04-30 05531508 frs-bus:Director1 2023-05-01 2024-04-30 05531508 frs-bus:Director2 2023-05-01 2024-04-30 05531508 frs-core:Non-currentFinancialInstruments 1 2024-04-30 05531508 frs-countries:EnglandWales 2023-05-01 2024-04-30 05531508 2022-04-30 05531508 2023-04-30 05531508 2022-05-01 2023-04-30 05531508 frs-core:CurrentFinancialInstruments 2023-04-30 05531508 frs-core:Non-currentFinancialInstruments 2023-04-30 05531508 frs-core:RevaluationReserve 2023-04-30 05531508 frs-core:ShareCapital 2023-04-30 05531508 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 05531508 frs-core:Non-currentFinancialInstruments 1 2023-04-30
Registered number: 05531508
The Lough's Property Management Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
MSB & Co Canvey Island Limited
Accountants and Tax Advisors
14 Furtherwick Road
Canvey Island
Essex
SS8 7AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05531508
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,567 34,898
Investments 5 1,210,000 1,210,000
1,238,567 1,244,898
CURRENT ASSETS
Debtors 6 106,655 106,031
Cash at bank and in hand 12,631 103,459
119,286 209,490
Creditors: Amounts Falling Due Within One Year 7 (249,840 ) (241,926 )
NET CURRENT ASSETS (LIABILITIES) (130,554 ) (32,436 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,108,013 1,212,462
Creditors: Amounts Falling Due After More Than One Year 8 (622,528 ) (691,853 )
NET ASSETS 485,485 520,609
CAPITAL AND RESERVES
Called up share capital 9 1 1
Revaluation reserve 10 714,440 714,440
Profit and Loss Account (228,956 ) (193,832 )
SHAREHOLDERS' FUNDS 485,485 520,609
Page 1
Page 2
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.
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
Mrs Kelliane Kendrick
Director
31st January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Lough's Property Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05531508 . The registered office is 14 Furtherwick Road, Canvey Island, Essex, SS8 7AE.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Freehold No depreciation
Motor Vehicles 25% straight line
Fixtures & Fittings 25% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 26,164 23,000 12,666 61,830
As at 30 April 2024 26,164 23,000 12,666 61,830
Depreciation
As at 1 May 2023 - 16,588 10,344 26,932
Provided during the period - 5,750 581 6,331
As at 30 April 2024 - 22,338 10,925 33,263
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 April 2024 26,164 662 1,741 28,567
As at 1 May 2023 26,164 6,412 2,322 34,898
5. Investments
Unlisted
£
Cost
As at 1 May 2023 1,210,000
As at 30 April 2024 1,210,000
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 1,210,000
As at 1 May 2023 1,210,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 104,893 104,893
Other taxes and social security 1,762 1,138
106,655 106,031
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Bank loans and overdrafts 5,556 5,556
Other creditors 1,640 7,935
Accruals and deferred income 1,500 1,500
Directors' loan accounts 241,144 226,936
249,840 241,926
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 28,197 36,574
Other long term loans b/fwd - 3
Mortgage (long term) 617,972 617,452
Amounts owed to other participating interests (23,641 ) 37,824
622,528 691,853
Page 4
Page 5
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Reserves
Revaluation Reserve
£
As at 1 May 2023 714,440
As at 30 April 2024 714,440
11. Ultimate Controlling Party
The company's ultimate controlling party is The Lough's Group Limited by virtue of its ownership of 100% of the issued share capital in the company.
Page 5