LPC Properties Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09022360

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022

FOR

LPC PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Ciccone

L Ciccone

REGISTERED OFFICE:

37 Howard Road

Seer Green

Beaconsfield

Buckinghamshire

HP9 2XT

REGISTERED NUMBER:

09022360

ACCOUNTANTS:

Macalvins Limited

Chartered Accountants

7 St John's Road

Harrow

Middlesex

HA1 2EY

FIXED ASSETS

Tangible assets

4

1,017

-

CURRENT ASSETS

Stocks

1,660,429

779,428

Debtors

5

32,883

-

Cash at bank and in hand

749,257

1,744,345

2,442,569

2,523,773

CREDITORS

Amounts falling due within one year

6

2,442,545

2,508,654

NET CURRENT ASSETS

24

15,119

TOTAL ASSETS LESS CURRENT LIABILITIES

1,041

15,119

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

941

15,019

SHAREHOLDERS' FUNDS

1,041

15,119

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 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 16 February 2023 and were signed on its behalf by:

P Ciccone - Director

1.	STATUTORY INFORMATION

LPC 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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

-

33.33% on cost

Stocks

Stock represents property which are valued at the lower of cost and net realisable value. Cost includes acquisition cost, incidental costs and enhancement costs.

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 berecovered 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 2 (2021 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

1,017

At 31 May 2022

1,017

NET BOOK VALUE

At 31 May 2022

1,017

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

32,883

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

374

-

Taxation and social security

726

3,456

Other creditors

2,441,445

2,505,198

2,442,545

2,508,654

7.	RELATED PARTY DISCLOSURES

Included in other creditor is £2,436,250 (2021: £2,427,100) due to Silvio's Quality Sandwich Bars Limited, a company in which Mr P Ciccone is also a director. The loan is interest free and repayable on demand.

Included in other debtors is £31,536 (2021: £76,351 due to) due from the director of the company. An interest of 2.5% per annum is charged by the company on the outstanding loan.The loan is repaid post year end.