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Registered number: 12244973
CL LUFFY REAL ESTATE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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CL LUFFY REAL ESTATE LIMITED
REGISTERED NUMBER:12244973
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
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Period ended 31 March 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
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CL LUFFY REAL ESTATE LIMITED
REGISTERED NUMBER:12244973
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 December 2025.
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CL LUFFY REAL ESTATE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CL Luffy Real Estates Limited is a private limited liability company incorporated in England and Wales with its registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The company's functional and presentational currency is £ Sterling.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The company's activities are funded by an interest free loan from the director, who is also the sole shareholder. At the reporting date, the company owed £19,856,975 to the director, included in other creditors. The director has prepared the financial statements on a going concern basis on the assumption that he will continue to provide such financial support as may be required by the company to meet its liabilities as they fall due for at least 12 months following the date of his approval of the financial statements.
Turnover comprises revenue recognised by the company in respect of rent receivable, exclusive of Value Added Tax.
Rent is recognised in the period to which it relates.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Short term debtors are measured at the transaction price.
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CL LUFFY REAL ESTATE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs.
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The average monthly number of employees, including director, during the year was 1 (2024 - 1).
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Long term leasehold investment property
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Investment properties are measured at cost less accumulated depreciation and impairment. The director reviews the carrying value of the investment properties at each reporting date and considers that there is no material difference between the carrying value and the estimated market value at the Statement of Financial Position date. Accordingly, the properties continue to be carried at cost.
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CL LUFFY REAL ESTATE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Period ended 31 March 2024
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Period ended 31 March 2024
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Period ended 31 March 2024
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The bank loans are secured by a fixed charge on the leasehold properties held by the company.
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CL LUFFY REAL ESTATE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Analysis of the maturity of loans is given below:
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Period ended 31 March 2024
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Amounts falling due after more than 5 years
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Period ended 31 March 2024
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Allotted, called up and fully paid
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1 (2024 - 1) Ordinary share of £1.00
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