Lettings Hq Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10051373 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

FOR

LETTINGS HQ PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R L Pickering

Mrs J Pickering

REGISTERED OFFICE:

2 Whirlow Croft

Sheffield

United Kingdom

S11 9AG

REGISTERED NUMBER:

10051373 (England and Wales)

ACCOUNTANTS:

Sutton McGrath Hartley Limited

5 Westbrook Court

Sharrowvale Road

Sheffield

S11 8YZ

FIXED ASSETS

Tangible assets

4

14,319

18,449

Investment property

5

4,414,470

3,480,000

4,428,789

3,498,449

CURRENT ASSETS

Cash at bank

149,436

362,035

CREDITORS

Amounts falling due within one year

6

(2,167,333

)

(1,459,557

)

NET CURRENT LIABILITIES

(2,017,897

)

(1,097,522

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,410,892

2,400,927

CREDITORS

Amounts falling due after more than one year

7

(302,500

)

(260,000

)

PROVISIONS FOR LIABILITIES

9

(45,996

)

(28,090

)

NET ASSETS

2,062,396

2,112,837

CAPITAL AND RESERVES

Called up share capital

10

1,700,006

1,700,002

Retained earnings

362,390

412,835

SHAREHOLDERS' FUNDS

2,062,396

2,112,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 20 January 2022 and were signed on its behalf by:

Mr R L Pickering - Director

1.	STATUTORY INFORMATION

Lettings Hq Properties 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.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% 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 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 3 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

21,093

Disposals

(179

)

At 30 June 2021

20,914

DEPRECIATION

At 1 July 2020

2,644

Charge for year

3,951

At 30 June 2021

6,595

NET BOOK VALUE

At 30 June 2021

14,319

At 30 June 2020

18,449

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2020

3,480,000

Additions

934,470

At 30 June 2021

4,414,470

NET BOOK VALUE

At 30 June 2021

4,414,470

At 30 June 2020

3,480,000

Fair value at 30 June 2021 is represented by:

£

Valuation in 2020

35,111

Cost

4,379,359

4,414,470

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts (see note 8)

1,933,500

1,380,000

Trade creditors

24,694

14,326

Tax

71,884

50,301

VAT

2,364

2,970

Directors' current accounts

130,624

7,764

Accruals and deferred income

4,267

4,196

2,167,333

1,459,557

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans (see note 8)

302,500

260,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,500

-

8.

LOANS

An analysis of the maturity of loans is given below:

2021

2020

£

£

Amounts falling due within one year or on demand:

Bank loans

1,933,500

1,380,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

270,000

260,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

30,000

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,500

-

9.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

45,996

28,090

Deferred

tax

£

Balance at 1 July 2020

28,090

Provided during year

17,906

Balance at 30 June 2021

45,996

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1,700,002

Ordinary shares

1

1,700,002

1,700,002

1

A shares

1

1

-

1

B shares

1

1

-

1

C shares

1

1

-

1

D shares

1

1

-

1,700,006

1,700,006