0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2024 - FRS102_2024 2,240,285 340,285 1,900,000 1,900,000 xbrli:pure xbrli:shares iso4217:GBP 06728725 2023-11-01 2024-10-31 06728725 2024-10-31 06728725 2023-10-31 06728725 2022-11-01 2023-10-31 06728725 2023-10-31 06728725 2022-10-31 06728725 bus:Director1 2023-11-01 2024-10-31 06728725 core:WithinOneYear 2024-10-31 06728725 core:WithinOneYear 2023-10-31 06728725 core:ShareCapital 2024-10-31 06728725 core:ShareCapital 2023-10-31 06728725 core:RetainedEarningsAccumulatedLosses 2024-10-31 06728725 core:RetainedEarningsAccumulatedLosses 2023-10-31 06728725 core:CostValuation core:Non-currentFinancialInstruments 2024-10-31 06728725 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-10-31 06728725 core:Non-currentFinancialInstruments 2024-10-31 06728725 core:Non-currentFinancialInstruments 2023-10-31 06728725 bus:SmallEntities 2023-11-01 2024-10-31 06728725 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 06728725 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 06728725 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 06728725 bus:FullAccounts 2023-11-01 2024-10-31
COMPANY REGISTRATION NUMBER: 06728725
Lima Estates Limited
Filleted Unaudited Financial Statements
31 October 2024
Lima Estates Limited
Balance Sheet
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
1,900,000
1,900,000
Current assets
Debtors
5
1,426
133
Cash at bank and in hand
68,330
84,229
--------
--------
69,756
84,362
Creditors: amounts falling due within one year
6
61,584
73,243
--------
--------
Net current assets
8,172
11,119
------------
------------
Total assets less current liabilities
1,908,172
1,911,119
------------
------------
Net assets
1,908,172
1,911,119
------------
------------
Capital and reserves
Called up share capital
1,400
1,400
Profit and loss account
7
1,906,772
1,909,719
------------
------------
Shareholders funds
1,908,172
1,911,119
------------
------------
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 31 October 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 .
Lima Estates Limited
Balance Sheet (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 26 March 2025 , and are signed on behalf of the board by:
Mr H H Shah
Director
Company registration number: 06728725
Lima Estates Limited
Notes to the Financial Statements
Year ended 31 October 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 Kimberley House, 31 Burnt Oak Broadway, Edgware, London, HA8 5LD.
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, 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.
Revenue recognition
The rental income shown in the profit and loss account represents amounts receivable during the period, exclusive of Value Added Tax.
Investments
Investment properties are revalued annually to their fair value and any surplus or deficit is dealt with through profit and loss. No provision for depreciation is made on investment properties.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Investments
Investment properties
£
Cost
At 1 November 2023 and 31 October 2024
2,240,285
------------
Impairment
At 1 November 2023 and 31 October 2024
340,285
------------
Carrying amount
At 31 October 2024
1,900,000
------------
At 31 October 2023
1,900,000
------------
The company's investment properties were valued at the reporting date by the directors on an open market basis. In their opinion, the carrying value is the same as the market value.
In respect of certain fixed assets stated at valuations, the comparable historical cost values would be £2,240,285 (2023: £2,240,285).
5. Debtors
2024
2023
£
£
Other debtors
1,426
133
-------
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
25,315
26,743
Social security and other taxes
4,219
6,996
Other creditors
32,050
39,504
--------
--------
61,584
73,243
--------
--------
7. Profit and loss account
2024 2023
£ £
Distributable reserves 2,247,057 2,250,004
Fair value loss on investment properties (340,285) (340,285)
------------ ------------
1,906,772 1,909,719
------------ ------------