| REGISTERED NUMBER: |
| LM10 PROPERTY LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JANUARY 2025 |
| REGISTERED NUMBER: |
| LM10 PROPERTY LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JANUARY 2025 |
| LM10 PROPERTY LTD (REGISTERED NUMBER: 12216374) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JANUARY 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| LM10 PROPERTY LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JANUARY 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2 Lakeview Stables |
| Lower St. Clere |
| Kemsing |
| Sevenoaks |
| Kent |
| TN15 6NL |
| LM10 PROPERTY LTD (REGISTERED NUMBER: 12216374) |
| BALANCE SHEET |
| 30 JANUARY 2025 |
| 30.1.25 | 30.1.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| LM10 PROPERTY LTD (REGISTERED NUMBER: 12216374) |
| BALANCE SHEET - continued |
| 30 JANUARY 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LM10 PROPERTY LTD (REGISTERED NUMBER: 12216374) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JANUARY 2025 |
| 1. | STATUTORY INFORMATION |
| LM10 Property Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net amounts receivable for rental income. All amounts are shown within the financial statements excluding value added tax. |
| 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. |
| The investment property is valued based upon a market estimate from online real estate valuations. |
| Financial instruments |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classified as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains and losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
| 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 balance sheet date. |
| LM10 PROPERTY LTD (REGISTERED NUMBER: 12216374) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JANUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| Trade and other debtors |
| Trade and other debtors that are receivable within one year and do not constitute a financing transaction are |
| recorded at the undiscounted amount expected to be received, net of impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments. |
| Trade and other creditors |
| Trade and other creditors are stated at cost. |
| Going concern |
| The directors believe that the company is expected to continue to receive rental at the same level, and that it 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 31 January 2024 |
| and 30 January 2025 |
| NET BOOK VALUE |
| At 30 January 2025 |
| At 30 January 2024 |
| LM10 PROPERTY LTD (REGISTERED NUMBER: 12216374) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JANUARY 2025 |
| 4. | INVESTMENT PROPERTY - continued |
| Fair value at 30 January 2025 is represented by: |
| £ |
| Valuation in 2021 | 31,550 |
| Valuation in 2022 | 34,000 |
| Valuation in 2023 | (3,000 | ) |
| Valuation in 2024 | 4,000 |
| Cost | 208,131 |
| 274,681 |
| The investment properties were revalued in January 2025 by N Hibbert, a director, on the basis of open market value for existing use. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.1.25 | 30.1.24 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.1.25 | 30.1.24 |
| £ | £ |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.1.25 | 30.1.24 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 8. | FINANCIAL INSTRUMENTS |
| The company has basic financial debt instruments which are all measured at cost. These include trade debtors, other debtors, cash and bank in hand and trade creditors. |
| LM10 PROPERTY LTD (REGISTERED NUMBER: 12216374) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JANUARY 2025 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 January 2025 and 30 January 2024: |
| 30.1.25 | 30.1.24 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest has been charged on the overdrawn directors loan account at the agreed rate of 2.25%. |
| 10. | RELATED PARTY DISCLOSURES |
| The company owed £20,000 to LWM10 Ltd a company that the directors have an interest in (2024: £20,000). |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is N Hibbert and M Hibbert. |