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Company registration number: 11909491
L & B Property Developments Limited
Unaudited filleted financial statements
30 June 2024
L & B Property Developments Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
L & B Property Developments Limited
Directors and other information
Directors Mr N Loughran (Resigned 19 March 2025)
Mr D Bates
Company number 11909491
Registered office Exchange Building
66 Church Street
Hartlepool
TS24 7DN
Accountants Censis
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
L & B Property Developments Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of L & B Property Developments Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of L & B Property Developments Limited for the year ended 30 June 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of L & B Property Developments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of L & B Property Developments Limited and state those matters that we have agreed to state to the board of directors of L & B Property Developments Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L & B Property Developments Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that L & B Property Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of L & B Property Developments Limited. You consider that L & B Property Developments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of L & B Property Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Censis
Chartered Accountants
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
25 March 2025
L & B Property Developments Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Current assets
Stocks 194,184 191,088
Debtors 4 58,309 47,274
Cash at bank and in hand - 11,548
_______ _______
252,493 249,910
Creditors: amounts falling due
within one year 5 ( 232,128) ( 226,309)
_______ _______
Net current assets 20,365 23,601
_______ _______
Total assets less current liabilities 20,365 23,601
Creditors: amounts falling due
after more than one year 6 ( 24,944) ( 26,399)
_______ _______
Net liabilities ( 4,579) ( 2,798)
_______ _______
Capital and reserves
Called up share capital 30 30
Profit and loss account ( 4,609) ( 2,828)
_______ _______
Shareholders deficit ( 4,579) ( 2,798)
_______ _______
For the 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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Mr D Bates
Director
Company registration number: 11909491
L & B Property Developments Limited
Notes to the financial statements
Year ended 30 June 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 Exchange Building, 66 Church Street, Hartlepool, TS24 7DN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Debtors
2024 2023
£ £
Other debtors 58,309 47,274
_______ _______
5. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Other creditors 222,128 216,309
_______ _______
232,128 226,309
_______ _______
6. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 24,944 26,399
_______ _______