Liberty Independent Living Limited

Audited Financial Statements for the Year Ended 31 December 2024

DIRECTORS:

A P Donnelly

J A Donnelly

S G P Donnelly

A J Donnelly

REGISTERED OFFICE:

3 Oldfield Road

Bocam Park

Bridgend

CF35 5LJ

REGISTERED NUMBER:

11985290 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew Lloyd Miller FCA

AUDITORS:

BPU Limited

Chartered Accountants

Statutory Auditor

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

FIXED ASSETS

Investment property

3

2,821,000

1,707,147

CURRENT ASSETS

Debtors

4

546,591

471,485

Cash at bank

61,832

38,321

608,423

509,806

CREDITORS

Amounts falling due within one year

5

945,487

669,123

NET CURRENT LIABILITIES

(337,064

)

(159,317

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,483,936

1,547,830

CREDITORS

Amounts falling due after more than one year

6

(2,298,684

)

(1,545,840

)

PROVISIONS FOR LIABILITIES

(24,000

)

-

NET ASSETS

161,252

1,990

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

71,252

-

Retained earnings

89,900

1,890

161,252

1,990

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

A P Donnelly - Director

1.	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 as modified by the revaluation of certain assets.

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 Profit and Loss Account, 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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

1,707,147

Additions

1,018,601

Revaluations

95,252

At 31 December 2024

2,821,000

NET BOOK VALUE

At 31 December 2024

2,821,000

At 31 December 2023

1,707,147

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

95,252

Cost

2,725,748

2,821,000

Two of the investment properties were revalued on an open market basis by RJ Chartered Surveyors, a RICS member, on 18 July 2025. The remaining three investment properties were revalued on an open market basis by the directors with the assistance of their property advisors at 31 December 2024.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

(Unaudited)

£

£

Trade debtors

1,024

1,356

Other debtors & prepayments

545,567

470,129

546,591

471,485

Included within the 2023 debtors is a figure of £275,000 in relation to income which was dependent on planning permission being granted. The directors were of the opinion that this income was highly likely to be received and it was included on that basis, with the amount a cautious estimate of the amount to be received. The additional planning permission has now been granted and the final amount agreed, so the 2024 debtors figure includes £357,000 in relation to this income. As such the accounts are showing a profit on disposal this year despite no investment properties being disposed in the year.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

(Unaudited)

£

£

Bank loans and overdrafts

162,131

102,165

Trade creditors

3,962

2,952

Amounts owed to group undertakings

723,220

532,315

Taxes & social security costs

29,197

17,297

Other creditors & accruals

26,977

14,394

945,487

669,123

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

(Unaudited)

£

£

Bank loans

2,298,684

1,545,840

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

(Unaudited)

£

£

Bank loans

2,460,815

1,648,005

The bank loans are in the form of a mortgage and are secured over a property in which they relates.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

The prior year figures are unaudited.

Andrew Lloyd Miller FCA (Senior Statutory Auditor)

for and on behalf of BPU Limited

9.	OTHER FINANCIAL COMMITMENTS

There is a cross company guarantee between this company and it's fellow group company React Support Services Limited.