Louis Lettings & Property Management Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04138308 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

LOUIS LETTINGS & PROPERTY MANAGEMENT

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Ellinas

I Ellinas

SECRETARY:

P Ellinas

REGISTERED OFFICE:

869 High Road

London

N12 8QA

REGISTERED NUMBER:

04138308 (England and Wales)

ACCOUNTANTS:

AC Partners LLP

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Tangible assets

4

302

403

Investment property

5

4,530,000

4,456,128

4,530,302

4,456,531

CURRENT ASSETS

Debtors

6

10,236

10,236

Cash at bank

19,723

11,760

29,959

21,996

CREDITORS

Amounts falling due within one year

7

141,621

129,325

NET CURRENT LIABILITIES

(111,662

)

(107,329

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,418,640

4,349,202

CREDITORS

Amounts falling due after more than one year

8

(1,512,417

)

(1,541,192

)

PROVISIONS FOR LIABILITIES

(474,024

)

(459,988

)

NET ASSETS

2,432,199

2,348,022

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Non-distributable reserve

2,020,839

1,961,003

Retained earnings

410,360

386,019

SHAREHOLDERS' FUNDS

2,432,199

2,348,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 11 September 2023 and were signed on its behalf by:

P Ellinas - Director

1.	STATUTORY INFORMATION

Louis Lettings & Property Management 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 represents rental income receivable.

TANGIBLE FIXED ASSETS

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

Plant and machinery

-

25% on reducing balance.

INVESTMENT PROPERTY

Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

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 4 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 May 2022

and 30 April 2023

14,943

DEPRECIATION

At 1 May 2022

14,540

Charge for year

101

At 30 April 2023

14,641

NET BOOK VALUE

At 30 April 2023

302

At 30 April 2022

403

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2022

4,456,128

Revaluations

73,872

At 30 April 2023

4,530,000

NET BOOK VALUE

At 30 April 2023

4,530,000

At 30 April 2022

4,456,128

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed by participating interests

800

800

Other debtors

9,436

9,436

10,236

10,236

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

(393

)

-

Taxation and social security

21,373

13,474

Other creditors

120,641

115,851

141,621

129,325

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

1,512,417

1,541,192

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,512,417

1,541,192

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

1,512,417

1,541,192