LPP PROPCO 1 LTD
Registered number: 11649145
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 762,104 741,622
Current assets
Debtors & Prepayments 4 1,000 -
Cash at bank and in hand 1,894 1,145
2,894 1,145
Creditors: amounts falling due within one year 5 (750) (720)
Net current assets 2,144 425
Total assets less current liabilities 764,248 742,047
Creditors: amounts falling due after more than one year 6 (861,424) (788,427)
Net liabilities (97,176) (46,380)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (98,176) (47,380)
Shareholders' funds (97,176) (46,380)
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.
M. Ozigbo-Esere
Director
Approved by the board on 27 July 2025
LPP PROPCO 1 LTD
Notes to the Accounts
for the year ended 31 October 2024
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, net of discounts and value added taxes. Turnover includes revenue earned from property rental and from the rendering of services. Turnover from property rentals are recognised when cash is received. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Furniture & Fittings Total
£ £ £
Cost
At 1 November 2023 724,282 21,675 745,957
Additions 23,950 - 23,950
At 31 October 2024 748,232 21,675 769,907
Depreciation
At 1 November 2023 - 4,335 4,335
Charge for the year - 3,468 3,468
At 31 October 2024 - 7,803 7,803
Net book value
At 31 October 2024 748,232 13,872 762,104
At 31 October 2023 724,282 17,340 741,622
4 Debtors 2024 2023
£ £
Other debtors 1,000 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 750 720
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 521,125 521,125
Other creditors- Director's 340,299 267,302
861,424 788,427
7 Other information
LPP PROPCO 1 LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6 Mentmore House
Cray Avenue
Orpington
BR5 3QF
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