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COMPANY REGISTRATION NUMBER: 04449058
LOTHERTON PROPERTY SERVICES LTD.
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 May 2024
LOTHERTON PROPERTY SERVICES LTD.
STATEMENT OF FINANCIAL POSITION
30 May 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
4
633
744
CURRENT ASSETS
Debtors
5
24,150
30,038
Cash at bank and in hand
9,488
6,068
--------
--------
33,638
36,106
CREDITORS: amounts falling due within one year
6
( 17,301)
( 17,998)
--------
--------
NET CURRENT ASSETS
16,337
18,108
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
16,970
18,852
CREDITORS: amounts falling due after more than one year
7
( 14,860)
( 17,774)
PROVISIONS
Taxation including deferred tax
( 120)
( 141)
--------
--------
NET ASSETS
1,990
937
--------
--------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
1,988
935
-------
----
SHAREHOLDERS FUNDS
1,990
937
-------
----
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 income and retained earnings has not been delivered.
For the year ending 30 May 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 .
LOTHERTON PROPERTY SERVICES LTD.
STATEMENT OF FINANCIAL POSITION (continued)
30 May 2024
These financial statements were approved by the board of directors and authorised for issue on 20 March 2025 , and are signed on behalf of the board by:
N. McAndrews
Director
Company registration number: 04449058
LOTHERTON PROPERTY SERVICES LTD.
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 MAY 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 4 Compton Cottages, Compton, Wetherby, West Yorkshire, LS22 5DS.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15% reducing balance
Computer Equipment
-
33% straight line
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
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 June 2023 and 30 May 2024
12,156
883
13,039
--------
----
--------
Depreciation
At 1 June 2023
11,412
883
12,295
Charge for the year
111
111
--------
----
--------
At 30 May 2024
11,523
883
12,406
--------
----
--------
Carrying amount
At 30 May 2024
633
633
--------
----
--------
At 31 May 2023
744
744
--------
----
--------
5. DEBTORS
2024
2023
£
£
Other debtors
24,150
30,038
--------
--------
6. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,000
3,000
Corporation tax
10,621
13,038
Social security and other taxes
1,675
Other creditors
2,005
1,960
--------
--------
17,301
17,998
--------
--------
7. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,860
17,774
--------
--------