Registered number
11386221
LTN 888 Limited
Filleted Accounts
31 May 2024
LTN 888 Limited
Registered number: 11386221
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 47,631 47,631
Current assets
Debtors 4 1,000 4,787
Cash at bank and in hand 5,720 2,518
6,720 7,305
Creditors: amounts falling due within one year 5 (900) (900)
Net current assets 5,820 6,405
Total assets less current liabilities 53,451 54,036
Creditors: amounts falling due after more than one year 6 (54,803) (54,803)
Net liabilities (1,352) (767)
Capital and reserves
Called up share capital 1 1
Profit and loss account (1,353) (768)
Shareholder's funds (1,352) (767)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Long Nguyen
Director
Approved by the board on 10 February 2025
LTN 888 Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the fair value of the rent received or receivable measured on an accrual basis and in accordance with the substance of the relevant tenancy agreements.
Investment property
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided; changes in fair value are recognised in the profit and loss accounts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of person employed by the company 1 1
3 Investment property
Land abd
building
£
Cost
At 1 June 2023 47,631
At 31 May 2024 47,631
The freehold investment property held at 31 May 2024 is stated at directors' assessment of fair
value on the basis of open market value given a willing buyer and willing seller.
4 Debtors 2024 2023
£ £
Other debtors 1,000 4,787
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 900 900
6 Creditors: amounts falling due after one year 2024 2023
£ £
Mortgage (secured) 54,803 54,803
7 Other information
LTN 888 Limited is a private company limited by shares and incorporated in England. Its registered office is:
20 Bute Street
Aberdare
Wales
CF44 7LE
8 Ultimate controlling party
The company is controlled by the sole director by virtue of his 100% shareholding in the issued
share capital of the company.
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