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REGISTERED NUMBER: 05861795 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 June 2024

for

L R Properties Limited

L R Properties Limited (Registered number: 05861795)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


L R Properties Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R A J Taggart
Mrs L J Taggart





SECRETARY: Mrs L J Taggart





REGISTERED OFFICE: 4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX





REGISTERED NUMBER: 05861795 (England and Wales)





ACCOUNTANTS: Bristow Burrell
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

L R Properties Limited (Registered number: 05861795)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 13,611 17,013
Investment property 6 495,716 495,716
509,327 512,729

CURRENT ASSETS
Cash at bank 7,719 11,523

CREDITORS
Amounts falling due within one
year

7

328,592

310,099
NET CURRENT LIABILITIES (320,873 ) (298,576 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,454

214,153

CREDITORS
Amounts falling due after more
than one year

8

173,061

204,747
NET ASSETS 15,393 9,406

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 15,391 9,404
SHAREHOLDERS' FUNDS 15,393 9,406

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by:





R A J Taggart - Director


L R Properties Limited (Registered number: 05861795)

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

1. STATUTORY INFORMATION

L R Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance

The Financial Reporting Standards [FRS] states that all assets with a finite life must be depreciated over their useful economic lives. The director is of the opinion that the residual value of freehold property will remain at least equal to the valuation shown in the financial statements due to the policy of regular repairs and renovations. On this basis no charge is made in respect of freehold property.

Although the Companies Act requires all fixed assets to be depreciated, the directors consider a departure is necessary in order for the accounts to show a true and fair view. The depreciation that might otherwise have been charged is considered to be immaterial to the accounts as a whole.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

L R Properties Limited (Registered number: 05861795)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 29,000
DEPRECIATION
At 1 July 2023 11,987
Charge for year 3,402
At 30 June 2024 15,389
NET BOOK VALUE
At 30 June 2024 13,611
At 30 June 2023 17,013

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 495,716
NET BOOK VALUE
At 30 June 2024 495,716
At 30 June 2023 495,716

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 16,700 2,250
Taxation and social security (126 ) -
Other creditors 312,018 307,849
328,592 310,099

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 173,061 188,047
Hire purchase contracts - 16,700
173,061 204,747

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 173,061 188,047

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 173,061 188,047

The bank loan is secured by way of fixed charge over both the investment property of the company and the gross rents arising out of any lease of the property.

L R Properties Limited (Registered number: 05861795)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary £1 2 2

11. ULTIMATE CONTROLLING PARTY

The Directors are the ultimate controlling parties by virtue of their 100% interest in the ordinary share capital of the company.