Lytchgate Limited
Registered number: 00514014
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 485,028 526,170
Current assets
Debtors 4 620 491
Cash at bank and in hand 297,985 97,659
298,605 98,150
Creditors: amounts falling due within one year 5 (26,294) (7,162)
Net current assets 272,311 90,988
Net assets 757,339 617,158
Capital and reserves
Called up share capital 400 400
Profit and loss account 756,939 616,758
Shareholders' funds 757,339 617,158
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G O McNulty
Director
Approved by the board on 29 May 2025
Lytchgate Limited
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover represents gross rents receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
In previous years, depreciation was provided on plant and machinery at 20% reducing balance.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2024 560,385 12,034 572,419
Disposals (75,357) - (75,357)
At 28 February 2025 485,028 12,034 497,062
Depreciation
At 1 March 2024 34,215 12,034 46,249
On disposals (34,215) - (34,215)
At 28 February 2025 - 12,034 12,034
Net book value
At 28 February 2025 485,028 - 485,028
At 29 February 2024 526,170 - 526,170
Land and Buildings
This is investment property held to earn rentals and its subsequent measurement is the cost model
less depreciation charge as it would cause undue cost and effort to measure reliably at fair value.
4 Debtors 2025 2024
£ £
Sundry debtors 620 491
5 Creditors: amounts falling due within one year 2025 2024
£ £
Corporation tax 23,655 3,886
Directors' account 688 1,314
Other creditors 1,951 1,962
26,294 7,162
6 Other information
Lytchgate Limited is a private company limited by shares and incorporated in England. Its registered office is:
70 High Street
Chislehurst
Kent
BR7 5AQ
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