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Registration number: 15737173

L Property & Lettings Ltd
Annual Report and Unaudited Financial Statements
for the Period from 1 June 2025 to 30 April 2026

L Property & Lettings Ltd

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 7

L Property & Lettings Ltd

(Registration number: 15737173)
Balance Sheet as at 30 April 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Investment property | 4 | 1,896,369 | 1,896,369
Investments | 5 | 35,175 | 35,175
|  | 1,931,544 | 1,931,544
Current assets |  |  |
Debtors | 6 | 100 | 100
Cash at bank and in hand |  | 5,743 | 6,546
|  | 5,843 | 6,646
Creditors: Amounts falling due within one year | 7 | (579,023) | (627,837)
Net current liabilities |  | (573,180) | (621,191)
Total assets less current liabilities |  | 1,358,364 | 1,310,353
Creditors: Amounts falling due after more than one year | 7 | (1,335,480) | (1,335,480)
Net assets/(liabilities) |  | 22,884 | (25,127)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 22,784 | (25,227)
Shareholders' funds/(deficit) |  | 22,884 | (25,127)

For the financial period ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 June 2026

......................................... L A Symes Director

L Property & Lettings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2025 to 30 April 2026

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:
Cedar House
Woolston
North Cadbury
YEOVIL
Somerset
BA22 7BL

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.

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.

L Property & Lettings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2025 to 30 April 2026

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

L Property & Lettings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2025 to 30 April 2026

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2025 - 0).

4 | Investment properties

| 2026 £
At 1 June | 1,896,369
At 30 April | 1,896,369

There has been no valuation of investment property by an independent valuer.

L Property & Lettings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2025 to 30 April 2026

5 | Investments

| 2026 £ | 2025 £
Investments in associates | 35,175 | 35,175

Associates | £
Cost
At 1 June 2025 | 35,175
Provision
Carrying amount
At 30 April 2026 | 35,175
At 31 May 2025 | 35,175

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2026 | 2025
Associates
L. Couriers Ltd | 6 Warminster Road, Beckington, Frome, Somerset BA11 6SP. | Ordinary | 50% | 50%
| England |  |  |

6 | Debtors

| 2026 £ | 2025 £
Other debtors | 100 | 100
| 100 | 100

L Property & Lettings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2025 to 30 April 2026

7 | Creditors

Amounts falling due within one year

| 2026 £ | 2025 £
Due within one year |  |
Accruals and deferred income | 2,106 | 1,920
Other creditors | 241,000 | 207,000
Loan from director | 335,917 | 418,917
| 579,023 | 627,837

Amounts falling due after more than one year

| Note | 2026 £ | 2025 £
Due after one year |  |  |
Loans and borrowings | 8 | 1,335,480 | 1,335,480

8 | Loans and borrowings

Non-current loans and borrowings

| 2026 £ | 2025 £
Bank borrowings | 1,335,480 | 1,335,480

Bank borrowings

Paragon Bank Plc is denominated in £ with a nominal interest rate of 5.4%, and the final instalment is due on 31 August 2049. The carrying amount at period end is £171,555 (2025 - £171,555). Negative pledge in respect of 90 Amazon Way, Westbury, Wiltshire BA13 4FJ.
Paragon Bank Plc is denominated in £ with a nominal interest rate of 5.4%, and the final instalment is due on 31 August 2049. The carrying amount at period end is £207,510 (2025 - £207,510). Negative pledge in respect of 92 Amazon Way, Westbury, Wiltshire BA13 4FJ.
Paragon Bank Plc is denominated in £ with a nominal interest rate of 5.4%, and the final instalment is due on 31 August 2049. The carrying amount at period end is £171,555 (2025 - £171,555). Negative pledge in respect of 94 Amazon Way, Westbury, Wiltshire BA13 4FJ.
Paragon Bank plc is denominated in £ with a nominal interest rate of 5.4%, and the final instalment is due on 31 August 2049. The carrying amount at period end is £171,555 (2025 - £171,555). Negative pledge in respect of 98 Amazon Way, Westbury, Wiltshire BA13 4FJ.
Lendinvest BTL Ltd is denominated in £ with a nominal interest rate of 4.99%, and the final instalment is due on 31 August 2049. The carrying amount at period end is £177,915 (2025 - £177,915). Negative pledge in respect of 96 Amazon Way, Westbury, Wiltshire BA13 4FJ.

L Property & Lettings Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2025 to 30 April 2026

The Mortgage Works (UK) Plc is denominated in £ with a nominal interest rate of 5.54%, and the final instalment is due on 20 August 2049. The carrying amount at period end is £228,995 (2025 - £228,995). Negative pledge in respect of 20 Courts Barton, Frome, Somerset BA11 4QA.
The Mortgage Works (UK) Plc is denominated in £ with a nominal interest rate of 5.54%, and the final instalment is due on 31 August 2049. The carrying amount at period end is £206,395 (2025 - £206,395). Negative pledge in respect of 6 Callum Way, Westbury, Wiltshire BA13 4FY.

9 | Related party transactions

Summary of transactions with associates

L Couriers Ltd

Income and receivables from related parties

2026 | Associates £
Dividends receivable from related party | 45,000

2025 | Associates £
Dividends receivable from related party | 9,000

Loans from related parties

2026 | Associates £ | Total £
At start of period | 216,000 | 216,000
Advanced | 42,000 | 42,000
Repaid | (17,000) | (17,000)
At end of period | 241,000 | 241,000

2025 | Associates £ | Total £
Advanced | 240,000 | 240,000
Repaid | (24,000) | (24,000)
At end of period | 216,000 | 216,000