Liscombe West Properties Limited 09427392 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is property development Digita Accounts Production Advanced 6.30.9574.0 true 09427392 2023-07-01 2024-06-30 09427392 2024-06-30 09427392 core:RetainedEarningsAccumulatedLosses 2024-06-30 09427392 core:ShareCapital 2024-06-30 09427392 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 09427392 bus:SmallEntities 2023-07-01 2024-06-30 09427392 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09427392 bus:FullAccounts 2023-07-01 2024-06-30 09427392 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09427392 bus:RegisteredOffice 2023-07-01 2024-06-30 09427392 bus:Director1 2023-07-01 2024-06-30 09427392 bus:Director2 2023-07-01 2024-06-30 09427392 bus:Director3 2023-07-01 2024-06-30 09427392 bus:Director4 2023-07-01 2024-06-30 09427392 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09427392 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-07-01 2024-06-30 09427392 countries:EnglandWales 2023-07-01 2024-06-30 09427392 2022-03-01 2023-06-30 09427392 2023-06-30 09427392 core:RetainedEarningsAccumulatedLosses 2023-06-30 09427392 core:ShareCapital 2023-06-30 09427392 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 09427392

Liscombe West Properties Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2024

 

Liscombe West Properties Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

Liscombe West Properties Limited

(Registration number: 09427392)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Debtors

49,244

42,441

Cash at bank and in hand

 

12,131

24,049

 

61,375

66,490

Creditors: Amounts falling due within one year

(23,616)

(27,764)

Net assets

 

37,759

38,726

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

37,659

38,626

Total equity

 

37,759

38,726

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 29 September 2024 and signed on its behalf by:
 

Mr J Liscombe
Director

Mr P West
Director

Mrs C Liscombe
Director

Mrs K West
Director

     
 

Liscombe West Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Haydon Farm
Haydon
Somerset
TA3 5AB

These financial statements were authorised for issue by the Board on 29 September 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Liscombe West Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

4

Related party transactions

Mr J Liscombe

During the period Mr J Liscombe went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £9,003 (2023 - £2,200). At the year end the amount outstanding from Mr J Liscombe was £9,003 (2023 - £2,200). Interest has been charged at the commercial rate.

Mrs C Liscombe

During the period Mrs C Liscombe went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £2,025 (2023 - £2,025). At the year end the amount outstanding from Mrs C Liscombe was £2,025 (2023 - £2,025). Interest has been charged at the commercial rate.

Mr P West

During the period Mr P West went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £25,328 (2023 - £25,328). At the year end the amount outstanding from Mr P West was £25,328 (2023 - £25,328). Interest has been charged at the commercial rate.

Mrs K West

During the period Mrs K West went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £2,478 (2023 - £2,478). At the year end the amount outstanding from Mrs K West was £2,478 (2023 - £2,478). Interest has been charged at the commercial rate.

Summary of transactions with entities with joint control or significant interest

Included within other creditoris an interest free loan of £22,921 which has been provided to Liscombe Investments Limited from Liscombe West Limited, in which both of Claire Liscombe and James Liscombe are directors and shareholders, and is repayable on demand.