Registration number: 7434516

LPG Properties Torquay Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

LPG Properties Torquay Limited

Company Information

Directors

Mrs Linda Garwood Mr Paul Ronald Garwood

Registered office

260-262 Union Street Torquay Devon TQ2 5QU

Accountants

Neil Wilson & Co Chartered Accountants Bank Chambers 260-262 Union Street Torquay Devon TQ2 5QU

LPG Properties Torquay Limited

(Registration number: 7434516)
Balance Sheet as at 30 November 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets		477,700	477,700
Current assets
Debtors		-	26
Cash at bank and in hand		51,210	35,332
		51,210	35,358
Creditors: Amounts falling due within one year	4	(471,343)	(463,140)
Net current liabilities		(420,133)	(427,782)
Total assets less current liabilities		57,567	49,918
Provisions for liabilities		(35,166)	(35,166)
Net assets		22,401	14,752
Capital and reserves
Called up share capital	5	2	2
Retained earnings		22,399	14,750
Shareholders' funds		22,401	14,752

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 January 2026 and signed on its behalf by:
 

......................................... Mr Paul Ronald Garwood Director

LPG Properties Torquay Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
260-262 Union Street
Torquay
Devon
TQ2 5QU
United Kingdom

These financial statements were authorised for issue by the Board on 6 January 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

LPG Properties Torquay Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	0%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

LPG Properties Torquay Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

4

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	975	-
Accruals and deferred income	475	-
Other creditors	469,893	463,140
	471,343	463,140

5	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	2	2	2	2

6

Dividends

		2025		2024
		£		£
Final dividend of £Nil (2024 - £2.00) per ordinary share		-		-
Interim dividend of £Nil (2024 - £500.00) per ordinary share		1,000		1,000
		1,000		1,000

7	Related party transactions

Transactions with directors

2025	At 1 December 2024 £	Repayments by director £	Other payments made to company by director £	At 30 November 2025 £
Mr Paul Ronald Garwood
Director loan	(462,640)	(1,000)	(5,753)	(469,393)

LPG Properties Torquay Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

2024	At 1 December 2023 £	Repayments by director £	At 30 November 2024 £
Mr Paul Ronald Garwood
Director loan	(307,496)	(155,144)	(462,640)

Dividends paid to directors

		2025 £		2024 £
Mr Paul Ronald Garwood
Interim dividend paid		500		500
Mrs Linda Garwood
Interim dividend paid		500		500