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Registered Number: 12216978
England and Wales

 

 

 

L.U.V PROPERTY LTD


Abridged Accounts
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Accountants report
You consider that the company is exempt from an audit for the year ended 30 September 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
aa Chartered Accountants
30 September 2024



....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
14 April 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 572,834    549,890 
572,834    549,890 
Current assets      
Debtors 16,444    9,844 
Cash at bank and in hand 11,300    8,652 
27,744    18,496 
Creditors: amount falling due within one year (179,473)   (156,258)
Net current assets (151,729)   (137,762)
 
Total assets less current liabilities 421,105    412,128 
Creditors: amount falling due after more than one year (362,433)   (362,411)
Provisions for liabilities (4,382)   (3,297)
Net assets 54,290    46,420 
 

Capital and reserves
     
Called up share capital 4 100    100 
Reserves 5 128,617    106,703 
Profit and loss account (74,427)   (60,383)
Shareholders' funds 54,290    46,420 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 14 April 2025 and were signed on its behalf by:


-------------------------------
Katharine Louise Mclean
Director
2
General Information
L.U.V Property Ltd is a private company, limited by shares , registered in England and Wales , registration number 12216978, registration address 5 Blenheim Court, , Peppercorn Close, Peterborough, Cambridgeshire, PE1 2DU.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements, and agree not to withdraw any funding within the business in the foreseeable future.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees including directors


Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Investment properties   Total
  £   £   £
At 01 October 2023 233    549,773    550,006 
Additions    
Disposals    
Revaluations   22,983    22,983 
At 30 September 2024 233    572,756    572,989 
Depreciation
At 01 October 2023 116      116 
Charge for year 39      39 
On disposals    
At 30 September 2024 155      155 
Net book values
Closing balance as at 30 September 2024 78    572,756    572,834 
Opening balance as at 01 October 2023 117    549,773    549,890 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

5.

Director’s loan

Directors Loan Account

As at the balance sheet date the company owed the following in interest free loans to the directors:

K McLean £164,439 (2023 £150,753)
M McLean Nil (2023 £1,716)
6.

Secured Loans

The company has three mortgages secured against the properties to which they relate.
3