Liverpool Investment Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07261864 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2022

for

Liverpool Investment Solutions Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J F Elster

REGISTERED OFFICE:

58 Breckfield Road South

Liverpool

Merseyside

L6 5DR

REGISTERED NUMBER:

07261864 (England and Wales)

ACCOUNTANTS:

Craig Callum Associates Ltd

Landmark House

43-45 Merton Road

Bootle

Liverpool

Merseyside

L20 7AP

FIXED ASSETS

Investment property

4

3,657,000

3,657,000

CURRENT ASSETS

Debtors

5

10,468

228

Cash at bank and in hand

51,136

91,072

61,604

91,300

CREDITORS

Amounts falling due within one year

6

10,473

31,852

NET CURRENT ASSETS

51,131

59,448

TOTAL ASSETS LESS CURRENT LIABILITIES

3,708,131

3,716,448

CREDITORS

Amounts falling due after more than one year

7

(3,008,404

)

(3,015,293

)

PROVISIONS FOR LIABILITIES

8

(41,268

)

(41,184

)

NET ASSETS

658,459

659,971

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

9

379,983

379,983

Retained earnings

9

278,474

279,986

SHAREHOLDERS' FUNDS

658,459

659,971

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2022 and were signed by:

Mr J F Elster - Director

1.	STATUTORY INFORMATION

Liverpool Investment Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 year 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2021

and 31 May 2022

3,657,000

NET BOOK VALUE

At 31 May 2022

3,657,000

At 31 May 2021

3,657,000

Fair value at 31 May 2022 is represented by:

£

Valuation in 2016

(155,863

)

Valuation in 2018

30,983

Valuation in 2019

177,000

Valuation in 2021

172,000

Cost

3,432,880

3,657,000

If the investment properties had not been revalued they would have been included at the following historical cost:

31.5.22

31.5.21

£

£

Cost

3,432,880

3,432,880

The investment properties were valued on an open market basis on 31 May 2021 by the Director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Other debtors

10,468

228

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans and overdrafts

5,544

4,630

Taxation and social security

38

7,698

Other creditors

4,891

19,524

10,473

31,852

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans

38,901

45,371

Other creditors

2,969,503

2,969,922

3,008,404

3,015,293

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

16,745

23,148

8.	PROVISIONS FOR LIABILITIES

31.5.22

31.5.21

£

£

Deferred tax

41,268

41,184

Deferred

tax

£

Balance at 1 June 2021

41,184

Provided during year

84

Balance at 31 May 2022

41,268

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 June 2021

279,986

379,983

659,969

Profit for the year

488

488

Dividends

(2,000

)

(2,000

)

At 31 May 2022

278,474

379,983

658,457

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2022 and 31 May 2021:

31.5.22

31.5.21

£

£

Mr J F Elster

Balance outstanding at start of year

(16,614

)

(55,447

)

Amounts advanced

14,633

38,833

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,981

)

(16,614

)

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the director .

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr J F Elster.