0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 611,911 611,911 611,911 xbrli:pure xbrli:shares iso4217:GBP 14142258 2023-06-01 2024-03-31 14142258 2024-03-31 14142258 2023-05-31 14142258 2022-05-30 2023-05-31 14142258 2023-05-31 14142258 2022-05-29 14142258 bus:Director1 2023-06-01 2024-03-31 14142258 core:LandBuildings core:LongLeaseholdAssets 2023-06-01 2024-03-31 14142258 core:WithinOneYear 2024-03-31 14142258 core:AfterOneYear 2024-03-31 14142258 core:ShareCapital 2024-03-31 14142258 core:ShareCapital 2023-05-31 14142258 core:RetainedEarningsAccumulatedLosses 2024-03-31 14142258 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 14142258 bus:SmallEntities 2023-06-01 2024-03-31 14142258 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-03-31 14142258 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-03-31 14142258 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-03-31 14142258 bus:FullAccounts 2023-06-01 2024-03-31
COMPANY REGISTRATION NUMBER: 14142258
L G PROPERTIES (NORTHERN) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 March 2024
L G PROPERTIES (NORTHERN) LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
31 Mar 24
31 May 23
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
611,911
CURRENT ASSETS
Cash at bank and in hand
8,893
100
CREDITORS: amounts falling due within one year
5
( 543,819)
---------
----
NET CURRENT (LIABILITIES)/ASSETS
( 534,926)
100
---------
----
TOTAL ASSETS LESS CURRENT LIABILITIES
76,985
100
CREDITORS: amounts falling due after more than one year
6
( 123,765)
---------
----
NET (LIABILITIES)/ASSETS
( 46,780)
100
---------
----
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 46,880)
--------
----
SHAREHOLDERS (DEFICIT)/FUNDS
( 46,780)
100
--------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
L G PROPERTIES (NORTHERN) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 3 March 2025 , and are signed on behalf of the board by:
L Gentile
Director
Company registration number: 14142258
L G PROPERTIES (NORTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 JUNE 2023 TO 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Wimborne Drive, Keighley, BD21 2TR, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The financial statements have been prepared on the going concern basis. The director considers the going concern basis to be appropriate as he has confirmed his ongoing support.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of rents received, exclusive of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its open market value at each reporting date and any changes in value are recognised in the statement of income and retained earnings.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. TANGIBLE ASSETS
Investment Property
£
Cost
At 1 June 2023
Additions
611,911
---------
At 31 March 2024
611,911
---------
Depreciation
At 1 June 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
611,911
---------
At 31 May 2023
---------
The market values of investment properties held as at 31st March 2024 have been calculated by the director, and have been valued at open market value.
5. CREDITORS: amounts falling due within one year
31 Mar 24
31 May 23
£
£
Bank loans and overdrafts
298,231
Amounts due to related companies
11,452
Other creditors
234,136
---------
----
543,819
---------
----
6. CREDITORS: amounts falling due after more than one year
31 Mar 24
31 May 23
£
£
Bank loans and overdrafts
123,765
---------
----