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Registered Number: 10780124


 

 

 

247 LETTINGS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Director MR ALAN MICHAEL FRANKLIN
Registered Number 10780124
Registered Office 63 SECOND DROVE
FENGATE
PETERBOROUGH
PE1 5XA
Accountants VALANI VALANI & CO LTD
96 BRIDGE STREET
PETERBOROUGH
PE1 1DY
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 May 2024.
Principal activities
Principal activity of the company during the financial year was of rental of owned properties.
Director
The director who served the company throughout the year was as follows:
Shares
MR ALAN MICHAEL FRANKLIN (from 19/05/2017)1.00
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
MR ALAN MICHAEL FRANKLIN
Director

Date approved: 24 February 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 May 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
VALANI VALANI & CO LTD
31 May 2024



....................................................

VALANI VALANI & CO LTD

96 BRIDGE STREET
PETERBOROUGH
PE1 1DY
24 February 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 160,000    160,000 
160,000    160,000 
Current assets      
Cash at bank and in hand 15,361    10,907 
Creditors: amount falling due within one year 4 (2,651)   (1,869)
Net current assets 12,710    9,038 
 
Total assets less current liabilities 172,710    169,038 
Creditors: amount falling due after more than one year 5 (134,717)   (134,717)
Net assets 37,993    34,321 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 37,992    34,320 
Shareholders' funds 37,993    34,321 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 24 February 2025 and were signed by:


-------------------------------
MR ALAN MICHAEL FRANKLIN
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 June 2022 1  29,938  29,939 
Profit for the year 4,382  4,382 
Total comprehensive income for the year 4,382  4,382 
Total investments by and distributions to owners
At 31 May 2023 1  34,320  34,321 
At 01 June 2023 1  34,320  34,321 
Profit for the year 3,672  3,672 
Total comprehensive income for the year 3,672  3,672 
Total investments by and distributions to owners
At 31 May 2024 1  37,992  37,993 
5
General Information
247 LETTINGS LTD is a private company, limited by shares, registered in , registration number 10780124, registration address 63 SECOND DROVE, FENGATE, PETERBOROUGH, PE1 5XA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 June 2023 160,000    160,000 
Additions  
Disposals  
At 31 May 2024 160,000    160,000 
Depreciation
At 01 June 2023  
Charge for year  
On disposals  
At 31 May 2024  
Net book values
Closing balance as at 31 May 2024 160,000    160,000 
Opening balance as at 01 June 2023 160,000    160,000 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 861    1,869 
Directors' Current Accounts 1,790   
2,651    1,869 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors 134,717    134,717 
134,717    134,717 

6