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REGISTERED NUMBER: 12216374 (England and Wales)
















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: N Hibbert
M Hibbert





REGISTERED OFFICE: Lakeside House
15 Mariner Court
Wakefield
West Yorkshire
WF4 3FL





REGISTERED NUMBER: 12216374 (England and Wales)





ACCOUNTANTS: Lakeview Southern Limited
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 4 274,681 274,681

CURRENT ASSETS
Debtors 5 438,125 418,662
Cash at bank 3,958 6,609
442,083 425,271
CREDITORS
Amounts falling due within one year 6 547,354 543,743
NET CURRENT LIABILITIES (105,271 ) (118,472 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,410

156,209

CREDITORS
Amounts falling due after more than one
year

7

(77,913

)

(77,913

)

PROVISIONS FOR LIABILITIES (16,638 ) (16,638 )
NET ASSETS 74,859 61,658

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 74,759 61,558
SHAREHOLDERS' FUNDS 74,859 61,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 January 2025 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.

LM10 PROPERTY LTD (REGISTERED NUMBER: 12216374)

BALANCE SHEET - continued
30 JANUARY 2025


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 29 April 2025 and were signed on its behalf by:





N Hibbert - Director


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 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.

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 2 (2024 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 January 2024
and 30 January 2025 274,681
NET BOOK VALUE
At 30 January 2025 274,681
At 30 January 2024 274,681

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 438,125 418,662

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.1.25 30.1.24
£    £   
Amounts owed to group undertakings 515,696 515,696
Taxation and social security 10,218 3,498
Other creditors 21,440 24,549
547,354 543,743

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.1.25 30.1.24
£    £   
Bank loans 77,913 77,913

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 77,913 77,913

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
£    £   
N Hibbert
Balance outstanding at start of year 312,930 285,601
Amounts advanced 17,244 27,329
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 330,174 312,930

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.