Company Registration No. 09609910 (England and Wales)
Lendel Properties Limited
Unaudited accounts
for the year ended 30 November 2024
Lendel Properties Limited
Company Information
for the year ended 30 November 2024
Company Number
09609910 (England and Wales)
Registered Office
7 School Lane
Formby
Liverpool
L37 3LN
Lendel Properties Limited
Statement of financial position
as at 30 November 2024
Tangible assets
2,160,000
2,160,000
Cash at bank and in hand
10,699
58,255
Creditors: amounts falling due within one year
(587,583)
(640,699)
Net current liabilities
(576,884)
(582,444)
Total assets less current liabilities
1,583,116
1,577,556
Provisions for liabilities
Deferred tax
(282,808)
(282,808)
Net assets
1,300,308
1,294,748
Called up share capital
100
100
Revaluation reserve
1,205,656
1,205,656
Profit and loss account
94,552
88,992
Shareholders' funds
1,300,308
1,294,748
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 August 2025 and were signed on its behalf by
K Bacon
Director
Company Registration No. 09609910
Lendel Properties Limited
Notes to the Accounts
for the year ended 30 November 2024
Lendel Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 09609910. The registered office is 7 School Lane, Formby, Liverpool, L37 3LN.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal
course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account
trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value
of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised
as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to
the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic
benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the
transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion, costs
incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred,
mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be
estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probably will be recovered.
Tangible fixed assets and depreciation
Tangible assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
The gain or loss on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.
Land & buildings
Not depreciated - revalued at the balance sheet date
Lendel Properties Limited
Notes to the Accounts
for the year ended 30 November 2024
The company has elected to apply the provisions of Section 11 ‘Basic Financial lnstruments’ and Section 12 ‘Other Financial
Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual
provisions of the instrument. Financial assets and liabilities are offset , with the net amounts presented in the financial
statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including
transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement
constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a
market rate of interest. Financial assets classified as receivable within one year are not amortised.
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 in the assets of the company after deducting all of its
liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are
classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where
the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial
liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from
suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are
presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at
amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable
on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent
that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such
assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets
and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer
probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated
at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is
charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which
case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally
enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the
same tax authority.
Lendel Properties Limited
Notes to the Accounts
for the year ended 30 November 2024
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Tangible fixed assets
Land & buildings
At 1 December 2023
2,160,000
At 30 November 2024
2,160,000
At 30 November 2024
2,160,000
At 30 November 2023
2,160,000
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Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
533,938
571,859
Taxes and social security
1,987
16,416
Other creditors
12,851
3,151
Loans from directors
38,807
49,273
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Average number of employees
During the year the average number of employees was 1 (2023: 1).