Luton Labour Properties Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 00257878 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

LUTON LABOUR PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs S A B Page

REGISTERED OFFICE:

Oxford Hall

3 Union Street

Luton

Bedfordshire

LU1 3AN

REGISTERED NUMBER:

00257878 (England and Wales)

AUDITORS:

FKCA Limited

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

FIXED ASSETS

Investment property

5

182,500

182,500

CURRENT ASSETS

Cash at bank

10

10

NET CURRENT ASSETS

10

10

TOTAL ASSETS LESS CURRENT LIABILITIES

182,510

182,510

CREDITORS

Amounts falling due after more than one year

6

(23,826

)

(23,511

)

PROVISIONS FOR LIABILITIES

7

(30,682

)

(30,682

)

NET ASSETS

128,002

128,317

CAPITAL AND RESERVES

Called up share capital

8

37

37

Retained earnings

9

127,965

128,280

SHAREHOLDERS' FUNDS

128,002

128,317

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 31 July 2023 and were signed by:

Mrs S A B Page - Director

1.	STATUTORY INFORMATION

Luton Labour 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost basis except for the modifications to a fair value basis for investment property as specified in the accounting policy below.

Investment property

The investment property is held for capital appreciation and not for use by the company and so is carried at fair value. The surplus or deficit arising from the annual valuation is recognised in the income statement.

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.

4.	EMPLOYEES AND DIRECTORS

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

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2021

and 31 October 2022

182,500

NET BOOK VALUE

At 31 October 2022

182,500

At 31 October 2021

182,500

Fair value at 31 October 2022 is represented by:

£

Valuation in 2022

182,500

If the investment property had not been revalued it would have been included at the following historical cost:

2022

2021

£

£

Cost

18,071

18,071

The investment property was valued on an open market basis on 31 October 2015 by Kirkby Diamond .

Management have assessed the fair value of the investment property as at 31 October 2022 and believe there has been no movement since the 2015 valuation performed by Kirkby Diamond.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

23,826

23,511

7.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

30,682

30,682

Deferred

tax

£

Balance at 1 November 2021

30,682

Balance at 31 October 2022

30,682

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

37

Ordinary

£1

37

37

9.

RESERVES

Non -

Distributable

distributable

Total

£

£

£

At 1st November 2021

(11,462

)

139,742

128,280

Deficit for the year

(315

)

-

(6,295

)

At 31st October 2021

(11,777

)

139,742

(127,965

)

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tara Aldwin ACA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

11.	RELATED PARTY DISCLOSURES

No one entity has control or ultimate control over the company.

In addition to the use of the property rent free, included within creditors is an amount of £23,826 (2021 - £23,511) due to various Luton Labour Parties. No interest has been charged on this balance during the year (2021 - £nil) and there are no set repayment terms in place.

The company has given guarantees to a maximum of £10,000 to the Luton Labour Parties.