| Leicester Properties Ltd |
| Registered number: |
02286682 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,991,338 |
|
|
1,992,338 |
|
| Current assets |
| Debtors |
4 |
|
- |
|
|
3,900 |
| Cash at bank |
|
|
65,365 |
|
|
55,233 |
|
|
|
65,365 |
|
|
59,133 |
|
| Creditors: amounts falling due within one year |
5 |
|
(158,568) |
|
|
(209,453) |
|
| Net current liabilities |
|
|
|
(93,203) |
|
|
(150,320) |
|
| Total assets less current liabilities |
|
|
|
1,898,135 |
|
|
1,842,018 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(473,617) |
|
|
(482,353) |
|
|
|
| Net assets |
|
|
|
1,424,518 |
|
|
1,359,665 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2,100 |
|
|
2,100 |
| Profit and loss account |
|
|
|
1,422,418 |
|
|
1,357,565 |
|
| Shareholders' funds |
|
|
|
1,424,518 |
|
|
1,359,665 |
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| Mrs V U Khamar |
| Director |
| Approved by the board on 21 August 2025 |
|
| Leicester Properties Ltd |
| Notes to the Accounts |
| for the year ended 31 December 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 renting of warehouses and residential properties, and service charges on those warehouses. Turnover from the rendering of services is recognised by reference to the stage of completion of the lease. The stage of completion of a lease is measured by details as signed per the contract with the occupant. |
|
|
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 & Buildings, 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 |
No depreciation |
|
Leasehold Properties |
No depreciation |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
9 |
|
9 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Site improvements |
|
Fixtures and fittings etc |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2024 |
1,958,095 |
|
29,343 |
|
20,857 |
|
50,200 |
|
At 31 December 2024 |
1,958,095 |
|
29,343 |
|
20,857 |
|
2,008,295 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
- |
|
|
|
15,957 |
|
15,957 |
|
Charge for the year |
- |
|
|
|
1,000 |
|
1,000 |
|
At 31 December 2024 |
- |
|
- |
|
16,957 |
|
16,957 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
1,958,095 |
|
29,343 |
|
3,900 |
|
1,991,338 |
|
At 31 December 2023 |
1,958,095 |
|
29,343 |
|
4,900 |
|
1,992,338 |
|
|
| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Other debtors |
- |
|
3,900 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans and overdrafts |
4,797 |
|
10,648 |
|
Trade creditors |
355 |
|
14,842 |
|
Corporation tax |
|
|
|
|
23,888 |
|
21,445 |
|
Taxation and social security costs |
4,156 |
|
12,057 |
|
Rent Deposits and received in advance |
95,442 |
|
85,441 |
|
Directors current accounts |
13,291 |
|
53,244 |
|
Other creditors |
16,639 |
|
11,776 |
|
|
|
|
|
|
158,568 |
|
209,453 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans |
19,776 |
|
18,053 |
|
Directors' Loans |
400,000 |
|
400,000 |
|
Dilapidation claims received |
53,841 |
|
64,300 |
|
|
|
|
|
|
473,617 |
|
482,353 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
Leicester Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
27 Burlington Rise |
|
East Barnet |
|
Herts |
|
EN4 8NH |