REGISTERED NUMBER: 13728084 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2024

for

LS Elliott Property Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms L K Francis

S Elliott

REGISTERED OFFICE:

Thatcher House

12 Mount Ephraim

Tunbridge Wells

Kent

TN4 8AS

REGISTERED NUMBER:

13728084 (England and Wales)

ACCOUNTANTS:

Ward Mackenzie Ltd

Chartered Accountants

Thatcher House

12 Mount Ephraim

Tunbridge Wells

Kent

TN4 8AS

FIXED ASSETS

Investment property

4

180,181

180,181

CURRENT ASSETS

Debtors

5

110

101

Cash at bank

846

2,508

956

2,609

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

(61,629

)

(66,040

)

NET CURRENT LIABILITIES

(60,673

)

(63,431

)

TOTAL ASSETS LESS CURRENT LIABILITIES

119,508

116,750

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

7

(128,996

)

(128,993

)

NET LIABILITIES

(9,488

)

(12,243

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9

(9,588

)

(12,343

)

SHAREHOLDERS' FUNDS

(9,488

)

(12,243

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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.

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 26 February 2025 and were signed on its behalf by:

Ms L K Francis - Director

1.	STATUTORY INFORMATION

LS Elliott 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2023

and 30 November 2024

180,181

NET BOOK VALUE

At 30 November 2024

180,181

At 30 November 2023

180,181

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Prepayments

110

101

The directors consider the carrying value of trade and other receivables approximate to their fair values.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Directors' current accounts

59,795

64,311

Accrued expenses

1,834

1,729

61,629

66,040

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Loans more than one year

128,996

128,993

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Mortgage Property Loan

128,996

129,000

Date of creation of charge : 28/10/2022

Persons entitled : The Mortgage Works (UK) Plc

Brief description : Negative pledge.

9.

RESERVES

Retained

earnings

£

At 1 December 2023

(12,343

)

Profit for the year

2,755

At 30 November 2024

(9,588

)

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

2024

2023

£

£

S Elliott

Balance outstanding at start of year

(32,227

)

(30,634

)

Amounts advanced

3,500

-

Amounts repaid

(529

)

(1,593

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(29,256

)

(32,227

)

Ms L K Francis

Balance outstanding at start of year

(32,083

)

(30,562

)

Amounts advanced

2,000

-

Amounts repaid

(456

)

(1,521

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(30,539

)

(32,083

)

11.	ULTIMATE CONTROLLING PARTY

The company is under the joint control of S Elliott and Ms L K Francis.

12.	GOING CONCERN

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.