Company Registration No. 11053694 (England and Wales)
LH & SV Properties Limited
Unaudited accounts
for the year ended 30 November 2024
LH & SV Properties Limited
Unaudited accounts
Contents
LH & SV Properties Limited
Company Information
for the year ended 30 November 2024
Directors
Mr Lee Holbrook
Mrs Sharon Holbrook
Company Number
11053694 (England and Wales)
Registered Office
14 MIDDLETONS YARD
POTTER STREET
WORKSOP
NOTTINGHAMSHIRE
S80 2FT
UNITED KINGDOM
Accountants
Athelstan Accounting Ltd
14 Middletons Yard
Worksop
Nottinghamshire
S80 2FT
LH & SV Properties Limited
Statement of financial position
as at 30 November 2024
Investment property
819,945
819,945
Cash at bank and in hand
11,511
9,749
Creditors: amounts falling due within one year
(486,721)
(506,439)
Net current liabilities
(474,605)
(496,522)
Total assets less current liabilities
345,340
323,423
Creditors: amounts falling due after more than one year
(232,095)
(182,031)
Provisions for liabilities
Deferred tax
(15,499)
(15,499)
Called up share capital
100
100
Revaluation reserve
51,482
51,482
Profit and loss account
46,164
74,311
Shareholders' funds
97,746
125,893
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by
Mrs Sharon Holbrook
Director
Company Registration No. 11053694
LH & SV Properties Limited
Notes to the Accounts
for the year ended 30 November 2024
LH & SV Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11053694. The registered office is 14 MIDDLETONS YARD, POTTER STREET, WORKSOP, NOTTINGHAMSHIRE, S80 2FT, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention , ( modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value). The principal accounting policies adopted are set out below.
The accounts are presented in £ sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements
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 or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
LH & SV Properties Limited
Notes to the Accounts
for the year ended 30 November 2024
Investment property, which is property held to earn rentals and/or for Capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Carrying amount of land and buildings on cost basis
-
114,699
Fair value at 1 December 2023
819,945
At 30 November 2024
819,945
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,800
10,800
Taxes and social security
-
4,127
Loans from directors
474,042
484,291
8
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
219,498
159,498
9
Deferred taxation
2024
2023
Accelerated capital allowances
15,499
15,499
Provision at start of year
15,499
15,499
Provision at end of year
15,499
15,499
LH & SV Properties Limited
Notes to the Accounts
for the year ended 30 November 2024
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).