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REGISTERED NUMBER: 11500734 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

LT ESTATES LIMITED

LT ESTATES LIMITED (REGISTERED NUMBER: 11500734)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LT ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: J M Govey
Ms J Plant





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 11500734 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

LT ESTATES LIMITED (REGISTERED NUMBER: 11500734)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 510,122 701,938

CURRENT ASSETS
Debtors 5 120,000 121,614
Cash at bank 2,626 6,940
122,626 128,554
CREDITORS
Amounts falling due within one year 6 353,008 388,875
NET CURRENT LIABILITIES (230,382 ) (260,321 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

279,740

441,617

CREDITORS
Amounts falling due after more than one
year

7

292,065

465,568
NET LIABILITIES (12,325 ) (23,951 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 10,000 10,000
Retained earnings 8 (22,425 ) (34,051 )
SHAREHOLDERS' FUNDS (12,325 ) (23,951 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

LT ESTATES LIMITED (REGISTERED NUMBER: 11500734)

BALANCE SHEET - continued
31 AUGUST 2024


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 7 March 2025 and were signed on its behalf by:




Ms J Plant - Director



J M Govey - Director


LT ESTATES LIMITED (REGISTERED NUMBER: 11500734)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

LT Estates 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

LT ESTATES LIMITED (REGISTERED NUMBER: 11500734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 701,938
Disposals (191,816 )
At 31 August 2024 510,122
NET BOOK VALUE
At 31 August 2024 510,122
At 31 August 2023 701,938

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2021 20,000
Valuation in 2022 15,000
Valuation in 2023 (25,000 )
Cost 500,122
510,122

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 500,122 691,938

Investment properties were valued on an open market basis on 31 August 2024 by the directors .

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Prepayments - 1,614

Amounts falling due after more than one year:
Convertible loan notes 120,000 120,000

Aggregate amounts 120,000 121,614

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,942 3,898
Other creditors 1,226 1,162
Directors' current accounts 348,640 381,140
Accruals and deferred income - 1,475
Accrued expenses 1,200 1,200
353,008 388,875

LT ESTATES LIMITED (REGISTERED NUMBER: 11500734)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Mortgages 292,065 465,568

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 292,065 465,568

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 September 2023 (34,051 ) 10,000 (24,051 )
Profit for the year 11,626 11,626
At 31 August 2024 (22,425 ) 10,000 (12,425 )

9. GOING CONCERN

As at 31st August 2024 the company had a net deficiency of assets of £12,325 and was therefore dependant upon the continued support from its principle creditors, including the directors.

The directors have confirmed that they will continue to support the company for the foreseeable future.

The financial statements have therefore been prepared on the going concern basis.