REGISTERED NUMBER: 08523790 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2024

for

LP HART LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A J Kuropatwa

REGISTERED OFFICE:

9 Worton Park

Cassington

Witney

Oxfordshire

OX29 4SX

REGISTERED NUMBER:

08523790 (England and Wales)

ACCOUNTANTS:

Camerons Accountancy Consultants Limited

Chartered Accountants

9 Worton Park

Cassington

Witney

Oxfordshire

OX29 4SX

FIXED ASSETS

Investment property

4

56,000

-

CURRENT ASSETS

Stocks

-

100,000

Debtors

5

60

160

Cash at bank

-

1,016

60

101,176

CREDITORS

Amounts falling due within one year

6

900

40,401

NET CURRENT (LIABILITIES)/ASSETS

(840

)

60,775

TOTAL ASSETS LESS CURRENT LIABILITIES

55,160

60,775

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

55,060

60,675

55,160

60,775

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31 October 2025 and were signed by:

A J Kuropatwa - Director

1.	STATUTORY INFORMATION

LP Hart 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.

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 1 (2023 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Reclassification/transfer

56,000

At 31 October 2024

56,000

NET BOOK VALUE

At 31 October 2024

56,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

60

160

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

28,234

Other creditors

900

12,167

900

40,401

7.	RECLASSIFICATION OF PROPERTY

During the year, the company reclassified land previously held as trading stock to investment property. The reclassification was made following a change in the company’s intention to hold the land for long-term rental income and capital appreciation rather than for sale in the ordinary course of business.

In accordance with FRS 102, the land was transferred at its fair value of £56,000 at the date of reclassification. This resulted in a deemed disposal for tax purposes, and a trading loss of £44,000 was recognised in the profit and loss account.

The fair value of the land at the date of transfer was determined by director’s assessment and this amount is now used as the cost basis for future measurement under the investment property accounting policy.

The land is now measured at fair value, with changes in fair value recognised in profit or loss, in accordance with the company’s accounting policy for investment properties.