| Living From Properties Ltd |
| Registered number: |
08763188 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
60,845 |
|
|
60,845 |
|
| Current assets |
| Debtors |
4 |
|
1,155 |
|
|
4,061 |
| Cash at bank and in hand |
|
|
9,640 |
|
|
6,747 |
|
|
|
10,795 |
|
|
10,808 |
|
| Creditors: amounts falling due within one year |
5 |
|
(30,984) |
|
|
(35,103) |
|
| Net current liabilities |
|
|
|
(20,189) |
|
|
(24,295) |
|
| Total assets less current liabilities |
|
|
|
40,656 |
|
|
36,550 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(75,000) |
|
|
(75,000) |
|
| Net liabilities |
|
|
|
(34,344) |
|
|
(38,450) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
(34,345) |
|
|
(38,451) |
|
| Shareholder's funds |
|
|
|
(34,344) |
|
|
(38,450) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges her 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. |
|
|
|
|
| Ms. A Ali |
| Director |
| Approved by the board on 29 September 2025 |
|
| Living From 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. Turnover includes revenue earned from the rental of property and is recognised on receipt. |
|
|
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 |
nil |
|
|
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. |
|
|
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. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 January 2024 |
60,845 |
|
At 31 December 2024 |
60,845 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
60,845 |
|
At 31 December 2023 |
60,845 |
|
|
| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade debtors |
281 |
|
462 |
|
Sundry debtors |
874 |
|
3,599 |
|
|
|
|
|
|
1,155 |
|
4,061 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade creditors |
- |
|
4,795 |
|
Other creditors |
30,984 |
|
30,308 |
|
|
|
|
|
|
30,984 |
|
35,103 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Other creditors |
75,000 |
|
75,000 |
|
|
|
|
|
|
|
|
|
|
Included in creditors is £81,424 (2023: £81,424) owing to the director, of which £75,000 (2023:£75,000) is a long-term loan. The loans are interest-free and there is no fixed date of repayment. The director has confirmed that the loans will only be repaid as and when cash flow permits. |
|
| 7 |
Going concern |
|
|
The company is dependent on its creditors to continue financial support to enable the company to continue trading for the foreseeable future. |
|
|
| 8 |
Controlling party |
|
|
The company is controlled by the director who owns the entire share capital of the company. |
|
|
| 9 |
Other information |
|
|
Living From Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
|
Hubspace, Devonshire House |
|
Manor Way |
|
Borehamwood |
|
Hertfordshire |
|
WD6 1QQ |