LMS Property Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 13238906 (England and Wales)

Financial Statements

for the Period 2 March 2021 to 31 March 2022

for

LMS Property Investments Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Southworth

L Southworth

REGISTERED OFFICE:

27 Ash Meadow

Lea

Preston

PR2 1RX

REGISTERED NUMBER:

13238906 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Oaklea House

46 Coatham Road

Redcar

TS10 1RS

FIXED ASSETS

Tangible assets

3

172

Investment property

4

140,000

140,172

CURRENT ASSETS

Cash at bank

1,075

CREDITORS

Amounts falling due within one year

5

(112,232

)

NET CURRENT LIABILITIES

(111,157

)

TOTAL ASSETS LESS CURRENT LIABILITIES

29,015

PROVISIONS FOR LIABILITIES

(6,036

)

NET ASSETS

22,979

CAPITAL AND RESERVES

Called up share capital

2

Non-distributable reserves

25,730

Retained earnings

(2,753

)

22,979

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 5 July 2022 and were signed on its behalf by:

M Southworth - 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.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

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 period 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 period 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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

229

At 31 March 2022

229

DEPRECIATION

Charge for period

57

At 31 March 2022

57

NET BOOK VALUE

At 31 March 2022

172

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

108,235

Revaluations

31,765

At 31 March 2022

140,000

NET BOOK VALUE

At 31 March 2022

140,000

Fair value at 31 March 2022 is represented by:

£

Valuation in 2022

31,765

Cost

108,235

140,000

Properties are required to be disclosed within the financial statements at fair value.

The director is of the opinion that the fair value of the company's properties is £140,000 which is based upon a recent valuation by an independent surveyor.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Directors' current accounts

111,392

Accrued expenses

840

112,232