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Logo On Report
Registered Number: 12114048
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 July 2024

for

LITT PROPERTIES LTD

Directors Dinu Morar
Manuela Morar
Registered Number 12114048
Registered Office 5 West Road
Ipswich
IP3 9FE
Accountants Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
IP30 9QS
1
  2024   2023
    £ £   £ £
Fixed assets   187,328      187,328 
Current assets 8,548      17,461   
Creditors: amount falling due within one year (508)     (495)  
Net current assets   8,040      16,966 
Total assets less current liabilities   195,368      204,294 
Creditors: amount falling due after more than one year   (189,955)     (201,050)
Net assets   5,413      3,244 
 

         
Capital and reserves   5,413      3,244 
 
NOTES TO THE ACCOUNTS

General Information
Litt Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 12114048, registration address 5 West Road, Ipswich, IP3 9FE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – 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.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).

3.

Related parties

During the year the company entered into the following transactions with related parties:
Amount due from/to related party Provision for doubtful debt from the related party
2024
£
 2023
£
 2024
£
 2023
£
Dinu & Manuela Morar(59,955)(64,055)
Anglia Living Care Services(130,000)


An interest free loan has been made

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

Directors' Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 November 2024 and were signed on its behalf by:


--------------------------------
Dinu Morar
Director
2