2 2 LC & TL Property Ltd 14312227 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of property investment Digita Accounts Production Advanced 6.30.9574.0 true 14312227 2023-09-01 2024-08-31 14312227 2024-08-31 14312227 bus:Director1 1 2024-08-31 14312227 bus:Director2 1 2024-08-31 14312227 bus:OrdinaryShareClass1 2024-08-31 14312227 core:CurrentFinancialInstruments 2024-08-31 14312227 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 14312227 core:Non-currentFinancialInstruments 2024-08-31 14312227 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 14312227 bus:SmallEntities 2023-09-01 2024-08-31 14312227 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 14312227 bus:FilletedAccounts 2023-09-01 2024-08-31 14312227 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 14312227 bus:RegisteredOffice 2023-09-01 2024-08-31 14312227 bus:Director1 2023-09-01 2024-08-31 14312227 bus:Director1 1 2023-09-01 2024-08-31 14312227 bus:Director2 2023-09-01 2024-08-31 14312227 bus:Director2 1 2023-09-01 2024-08-31 14312227 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 14312227 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 14312227 countries:England 2023-09-01 2024-08-31 14312227 2023-08-31 14312227 bus:Director1 1 2023-08-31 14312227 bus:Director2 1 2023-08-31 14312227 2022-08-23 2023-08-31 14312227 2023-08-31 14312227 bus:Director1 1 2023-08-31 14312227 bus:Director2 1 2023-08-31 14312227 bus:OrdinaryShareClass1 2023-08-31 14312227 core:CurrentFinancialInstruments 2023-08-31 14312227 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 14312227 core:Non-currentFinancialInstruments 2023-08-31 14312227 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 14312227 bus:Director1 1 2022-08-23 2023-08-31 14312227 bus:Director2 1 2022-08-23 2023-08-31 14312227 bus:Director1 1 2022-08-22 14312227 bus:Director2 1 2022-08-22 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 14312227

LC & TL Property Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

LC & TL Property Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

LC & TL Property Ltd

(Registration number: 14312227)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

207,278

207,278

Current assets

 

Debtors

5

849

-

Cash at bank and in hand

 

2,038

126

 

2,887

126

Creditors: Amounts falling due within one year

6

(66,353)

(66,352)

Net current liabilities

 

(63,466)

(66,226)

Total assets less current liabilities

 

143,812

141,052

Creditors: Amounts falling due after more than one year

6

(146,926)

(146,926)

Net liabilities

 

(3,114)

(5,874)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(3,214)

(5,974)

Shareholders' deficit

 

(3,114)

(5,874)

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 April 2025 and signed on its behalf by:
 

.........................................
Thomas Lenton
Director

 

LC & TL Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Manchester House
50A Oxford Road
Guiseley
Leeds
LS20 8AB

These financial statements were authorised for issue by the Board on 23 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the rents receivable in the ordinary course of the company’s activities.

Investment property

Investment property which is property held to earn rentals and for capital appreciation is measured using the fair value model and stated at its fair value as at the reporting end date. The surplus or deficit on revaluation is recognoised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

 

LC & TL Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 September

207,278

At 31 August

207,278

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

Prepayments

849

-

849

-

Current

2024
£

2023
£

Prepayments

849

-

 

849

-

 

LC & TL Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

65,752

65,752

Accruals and deferred income

 

601

600

 

66,353

66,352

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

146,926

146,926

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

146,926

146,926

Current loans and borrowings

2024
£

2023
£

Other borrowings

65,752

65,752

 

LC & TL Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

At 31 August 2024
£

Thomas Lenton

Directors loan account

32,876

32,876

Lewis Cooper

Directors loan account

32,876

32,876

2023

At 23 August 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Thomas Lenton

Directors loan account

-

(50)

32,926

32,876

Lewis Cooper

Directors loan account

-

(50)

32,926

32,876