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Draft
Lithium Properties Limited
Registered Number:10111641
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
2
Draft
For the year ended 31 May 2024
Lithium Properties Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Draft
Registered Number :
10111641
As at 31 May 2024
Lithium Properties Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
24,950,147
24,950,147
2
24,950,147
24,950,147
Current assets
Trade and other receivables
10,669,900
11,149,143
3
12,526
Cash and cash equivalents
3,381
11,152,524
10,682,426
Trade and other payables: amounts falling due within one year
(1,411,584)
(2,565,811)
4
9,270,842
8,586,713
Net current assets
Total assets less current liabilities
33,536,860
34,220,989
Trade and other payables: amounts falling due after more than one
year
(12,977,636)
(11,971,886)
5
21,564,974
Net assets
21,243,353
Capital and reserves
Called up share capital
1,000
1,000
Share premium account
19,639,276
19,639,276
Retained earnings
1,924,698
1,603,077
21,564,974
21,243,353
Shareholders' funds
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.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Dr Virendra Kumar Mittal Director
These financial statements were approved and authorised for issue by the Board on 25 February 2025 and were signed by:
The notes form part of these financial statements
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4
Draft
For the year ended 31 May 2024
Lithium Properties Limited
Notes to the Financial Statements
Statutory Information
Lithium Properties Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
10111641.
Registered address:
45A Boundaries Road
Balham
London
SW2 8EU
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
2. Property, plant and equipment
Land and
Buildings
£
Cost or valuation
At 01 June 2023
24,950,147
At 31 May 2024
24,950,147
At 31 May 2024
Net book value
24,950,147
At 31 May 2023
24,950,147
3. Trade and other receivables
2023
2024
£
£
Other debtors
11,149,143
10,669,900
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft (secured)
1,721,234
1,005,750
Trade creditors
293,978
291,202
Taxation and social security
107,207
69,808
Directors' loan accounts
443,392
44,824
2,565,811
1,411,584
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5
Draft
For the year ended 31 May 2024
Lithium Properties Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft (secured)
11,971,886
12,977,636
The company has a loan facility with Cynergy Bank amounting to £14,125,000, which was obtained in November 2022. The loan is repayable over a period of 60 months, with the final repayment due in November 2027.The loan carries an interest rate of 5.15% per annum and is subject to the terms and conditions agreed upon with the lender.
6. Average number of persons employed
During the year the average number of employees was 0
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