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REGISTERED NUMBER: 01253169 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Lloyd's Property Southwest Limited

Lloyd's Property Southwest Limited (Registered number: 01253169)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lloyd's Property Southwest Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: K J Lloyd
P P Lloyd
H P Lloyd
Miss H E Lloyd
J J Lloyd
J T Lloyd





SECRETARY: K J Lloyd





REGISTERED OFFICE: Unit 4
Lodge Hill Industrial Estate
Westbury-sub-Mendip
Wells
Somerset
BA5 1EY





REGISTERED NUMBER: 01253169 (England and Wales)

Lloyd's Property Southwest Limited (Registered number: 01253169)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,904 2,849
Investment property 5 6,017,500 5,936,250
6,028,404 5,939,099

CURRENT ASSETS
Debtors 6 580,568 608,905
Cash at bank 712,269 662,444
1,292,837 1,271,349
CREDITORS
Amounts falling due within one year 7 167,917 172,570
NET CURRENT ASSETS 1,124,920 1,098,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,153,324

7,037,878

CREDITORS
Amounts falling due after more than one
year

8

(411,299

)

(464,232

)

PROVISIONS FOR LIABILITIES (496,284 ) (473,956 )
NET ASSETS 6,245,741 6,099,690

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 10 6,245,241 6,099,190
SHAREHOLDERS' FUNDS 6,245,741 6,099,690

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 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.

Lloyd's Property Southwest Limited (Registered number: 01253169)

Balance Sheet - 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 Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:




K J Lloyd - Director



P P Lloyd - Director


Lloyd's Property Southwest Limited (Registered number: 01253169)

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

1. STATUTORY INFORMATION

Lloyd's Property Southwest Limited 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.

These financial statements are the entity's first under FRS 102 Section 1A. Details of the transition to FRS 102 are disclosed in note 12.

Turnover
Turnover represents rental income receivable and other net invoiced sales of goods and services attributable to those rentals, 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.
Plant and machinery - 25% on straight line basis
Fixtures and fittings - 10% on straight line basis
Motor vehicles - 25% on straight line basis

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Investment property
Investment property is included at 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.

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.

Deferred tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Lloyd's Property Southwest Limited (Registered number: 01253169)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 98,770 9,675 32,887 141,332
Additions - - 12,500 12,500
At 30 April 2024 98,770 9,675 45,387 153,832
DEPRECIATION
At 1 May 2023 96,759 8,837 32,887 138,483
Charge for year 980 340 3,125 4,445
At 30 April 2024 97,739 9,177 36,012 142,928
NET BOOK VALUE
At 30 April 2024 1,031 498 9,375 10,904
At 30 April 2023 2,011 838 - 2,849

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 5,936,250
Revaluations 81,250
At 30 April 2024 6,017,500
NET BOOK VALUE
At 30 April 2024 6,017,500
At 30 April 2023 5,936,250

Fair value at 30 April 2024 is represented by:
£   
Valuation in 1999 652,803
Valuation in 2006 1,207,126
Valuation in 2010 (118,642 )
Valuation in 2013 593,000
Valuation in 2022 1,357,487
Valuation in 2024 81,250
Cost 2,244,476
6,017,500

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,244,476 2,244,476

Investment property was valued on an open market basis on 19 January 2024 by Cooper and Tanner .

Lloyd's Property Southwest Limited (Registered number: 01253169)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 77,342 56,735
Other debtors 484,625 537,959
Directors' current accounts 669 -
Prepayments 17,932 14,211
580,568 608,905

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 42,800 43,200
Trade creditors 17,508 22,650
Tax 75,907 62,948
Social security and other taxes 18,096 22,104
Other creditors 734 8,000
Directors' current accounts 5 -
Accrued expenses 12,867 13,668
167,917 172,570

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loan 172,800 172,800
Bank loan 238,499 291,432
411,299 464,232

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 238,499 291,432

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 454,099 507,432

Legal charge, created 26 August 2016, over the property known as Lodge Hill Industrial Estate, Station Road, Westbury Sub Mendip.

10. RESERVES

DistributableNon-distributableTotal
£   £   £   

At 30 April 20242,471,7383,773,0246,244,762

Lloyd's Property Southwest Limited (Registered number: 01253169)

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

11. RELATED PARTY DISCLOSURES

Other debtors include £3,410 (2023 - £3,410) due from Lloyds Car Sales an unincorporated partnership of which K J Lloyd and P P Lloyd are partners. This loan is unsecured, interest free and has no fixed repayment terms.

Also included in other debtors is a loan to Lloyd's Property Holdings Limited of £470,326 (2023 - £532,548), a company in which the directors' family have an interest.This loan is unsecured, interest is being charged at a commercial rate and is being repaid over a 25 year period.