Letts 4 U Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11910667 (England and Wales)

LETTS 4 U LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

to

3

FIXED ASSETS

Tangible assets

4

573,683

371,390

CURRENT ASSETS

Cash at bank and in hand

7,637

158,824

CREDITORS

Amounts falling due within one year

5

(569,856

)

(530,835

)

NET CURRENT LIABILITIES

(562,219

)

(372,011

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,464

(621

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

11,364

(721

)

11,464

(621

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2022 and were signed by:

K Wilson - Director

1.	STATUTORY INFORMATION

Letts 4 U Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11910667

Registered office:

Unit 6, Lowfield Drive

Centre 500

Wolstanton

Newcastle under Lyme

Staffordshire

ST5 0UU

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Tangible fixed assets

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

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Going concern

The accounts have been prepared on the going concern basis, see later note.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 January 2021

371,390

Additions

202,293

At 31 December 2021

573,683

NET BOOK VALUE

At 31 December 2021

573,683

At 31 December 2020

371,390

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Amounts owed to group undertakings

569,135

530,835

Tax

721

-

569,856

530,835

Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.

6.	RELATED PARTY DISCLOSURES

Details of the transactions between fellow group companies have not been disclosed in line with paragraph 33.1A of FRS102.

7.	POST BALANCE SHEET EVENTS

There were no significant events up to the date of approval of the financial statements by the Board.

8.	ULTIMATE CONTROLLING PARTY

The parent company is Atlantic Development Projects Limited, a company incorporated in England.

9.	GOING CONCERN

The accounts have been prepared on the going concern basis. The director believes this to be appropriate as he has expressed his willingness to support the business for the foreseeable future.