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REGISTERED NUMBER: 10199071 (England and Wales)















LARGO PROPERTY INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MAY 2024






LARGO PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10199071)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 7

LARGO PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MAY 2024







DIRECTORS: L J Fuller
G A Fuller





SECRETARY:





REGISTERED OFFICE: Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL





REGISTERED NUMBER: 10199071 (England and Wales)





ACCOUNTANTS: FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL

LARGO PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10199071)

STATEMENT OF FINANCIAL POSITION
30 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 438,000 438,000

CURRENT ASSETS
Cash at bank 17,917 20,207

CREDITORS
Amounts falling due within one year 5 153,440 154,267
NET CURRENT LIABILITIES (135,523 ) (134,060 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

302,477

303,940

CREDITORS
Amounts falling due after more than one
year

6

276,487

276,487
NET ASSETS 25,990 27,453

CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 51,933 51,933
Retained earnings (25,945 ) (24,482 )
SHAREHOLDERS' FUNDS 25,990 27,453

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LARGO PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10199071)

STATEMENT OF FINANCIAL POSITION - continued
30 MAY 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2025 and were signed on its behalf by:




L J Fuller - Director



G A Fuller - Director


LARGO PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10199071)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024

1. STATUTORY INFORMATION

Largo Property Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

LARGO PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10199071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 May 2023
and 30 May 2024 438,000
NET BOOK VALUE
At 30 May 2024 438,000
At 30 May 2023 438,000

Fair value at 30 May 2024 is represented by:
£   
Valuation in 2022 43,933
Valuation in 2023 8,000
Cost 386,067
438,000

If Investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 386,067 386,067

Investment properties were valued on an open market basis on 30 May 2023 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 153,440 154,267

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 276,487 276,487

Amounts falling due in more than five years:

Repayable by instalments
Mortgage Loan more 5yrs 276,487 276,487

LARGO PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10199071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2024

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Mortgage Loan more 5yrs 276,487 276,487

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage Loan more 5yrs 276,487 276,487

Paragon Bank PLC holds a fixed charge on Flat 2, 22 Salisbury Road, Worthing, BN11 1RD. Registered under title number WSX376386. Registered on 31st May 2019.

Aldemore Bank PLC holds a negative pledge on Flat 4, 22 Salisbury Road, Worthing, BN11 1RD. Registered under title number WSX376389. Registered on 17th September 2019.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Revaluation
reserve
£   
At 31 May 2023
and 30 May 2024 51,933

LARGO PROPERTY INVESTMENTS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
LARGO PROPERTY INVESTMENTS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 May 2024 set out on pages two to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL


28 February 2025