L4RK Properties Limited 14632604 false 2024-02-29 2025-02-28 2025-02-28 The principal activity of the company is other letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 14632604 2024-02-29 2025-02-28 14632604 2025-02-28 14632604 core:CurrentFinancialInstruments 2025-02-28 14632604 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 14632604 bus:SmallEntities 2024-02-29 2025-02-28 14632604 bus:AuditExemptWithAccountantsReport 2024-02-29 2025-02-28 14632604 bus:FilletedAccounts 2024-02-29 2025-02-28 14632604 bus:SmallCompaniesRegimeForAccounts 2024-02-29 2025-02-28 14632604 bus:RegisteredOffice 2024-02-29 2025-02-28 14632604 bus:Director1 2024-02-29 2025-02-28 14632604 bus:Director2 2024-02-29 2025-02-28 14632604 bus:PrivateLimitedCompanyLtd 2024-02-29 2025-02-28 14632604 countries:EnglandWales 2024-02-29 2025-02-28 14632604 2024-02-28 14632604 2023-02-01 2024-02-28 14632604 2024-02-28 14632604 core:CurrentFinancialInstruments 2024-02-28 14632604 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 iso4217:GBP xbrli:pure

Registration number: 14632604

Prepared for the registrar

L4RK Properties Limited

Annual Report and Unaudited Financial Statements

for the Period from 29 February 2024 to 28 February 2025

 

L4RK Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

L4RK Properties Limited

Company Information

Directors

Mr A Moll

Mrs L Moll

Registered office

Waplington Manor
Waplington
York
YO42 4RS

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

L4RK Properties Limited

(Registration number: 14632604)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Investment property

4

964,909

964,909

Current assets

 

Debtors

1,995

-

Cash at bank and in hand

 

498

15,662

 

2,493

15,662

Creditors: Amounts falling due within one year

5

(938,859)

(970,534)

Net current liabilities

 

(936,366)

(954,872)

Net assets

 

28,543

10,037

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

28,443

9,937

Shareholders' funds

 

28,543

10,037

For the financial period ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 July 2025 and signed on its behalf by:
 


Mr A Moll
Director


Mrs L Moll
Director

 

L4RK Properties Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Waplington Manor
Waplington
York
YO42 4RS
United Kingdom

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

L4RK Properties Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

L4RK Properties Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2024 - 2).

 

4

Investment properties

£

At 29 February 2024

964,909

There has been no valuation of investment property by an independent valuer.

 

L4RK Properties Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 28 February 2025

 

5

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

6

931,368

966,859

Taxation and social security

 

4,341

675

Accruals and deferred income

 

3,150

3,000

 

938,859

970,534

 

6

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

931,368

966,859

 

7

Share capital

Allotted, called up and fully paid shares

 

28 February 2025

28 February 2024

 

No.

£

No.

£

A Ordinary of £1 each

50

50

50

50

B Ordinary of £1 each

50

50

50

50

 

100

100

100

100

 

8

Related party transactions

Summary of transactions with key management

As at the balance sheet date, the company owed the directors £968,715. This amount is included in other borrowings. There are no fixed repayment terms and no interest is charged on the amounts.