Liquid 11 Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09088048 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Liquid 11 Estates Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G Hardy

REGISTERED OFFICE:

Number Sixty One

Alexandra Road

Lowestoft

Suffolk

NR32 1PL

REGISTERED NUMBER:

09088048 (England and Wales)

ACCOUNTANTS:

CUNNINGHAMS

Number Sixty One

Alexandra Road

Lowestoft

Suffolk

NR32 1PL

FIXED ASSETS

Tangible assets

4

11,207

12,626

Investment property

5

6,123,784

3,605,408

6,134,991

3,618,034

CURRENT ASSETS

Debtors

9,509

5,019

Cash at bank and in hand

146,601

121,817

156,110

126,836

CREDITORS

Amounts falling due within one year

4,371,231

3,468,273

NET CURRENT LIABILITIES

(4,215,121

)

(3,341,437

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,919,870

276,597

PROVISIONS FOR LIABILITIES

338,096

-

NET ASSETS

1,581,774

276,597

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

1,094,368

-

Retained earnings

487,306

276,497

SHAREHOLDERS' FUNDS

1,581,774

276,597

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 November 2022 and were signed by:

Mr G Hardy - Director

1.	STATUTORY INFORMATION

Liquid 11 Estates Limited 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 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

and 31 March 2022

15,950

DEPRECIATION

At 1 April 2021

3,324

Charge for year

1,419

At 31 March 2022

4,743

NET BOOK VALUE

At 31 March 2022

11,207

At 31 March 2021

12,626

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

3,605,408

Additions

1,085,912

Revaluations

1,432,464

At 31 March 2022

6,123,784

NET BOOK VALUE

At 31 March 2022

6,123,784

At 31 March 2021

3,605,408

Investment property was valued on an open market basis by the director on 31st March 2022.

Fair value at 31 March 2022 is represented by:

£

Valuation in 2022

1,432,464

Cost

4,691,320

6,123,784