Little's Holdings Limited - Accounts to registrar (filleted) - small 23.2.5

Little's Holdings Limited - Accounts to registrar (filleted) - small 23.2.5

LITTLE'S HOLDINGS LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v23.2.0.158 SC622104 Board of Directors 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC6221042022-03-31SC6221042023-03-31SC6221042022-04-012023-03-31SC6221042021-03-31SC6221042021-04-012022-03-31SC6221042022-03-31SC622104ns15:PoundSterling2022-04-012023-03-31SC622104ns11:Director12022-04-012023-03-31SC622104ns11:PrivateLimitedCompanyLtd2022-04-012023-03-31SC622104ns11:SmallEntities2022-04-012023-03-31SC622104ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-31SC622104ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC622104ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-31SC622104ns11:FullAccounts2022-04-012023-03-31SC622104ns6:CurrentFinancialInstruments2023-03-31SC622104ns6:CurrentFinancialInstruments2022-03-31SC622104ns6:ShareCapital2023-03-31SC622104ns6:ShareCapital2022-03-31SC622104ns6:SharePremium2023-03-31SC622104ns6:SharePremium2022-03-31SC622104ns6:RetainedEarningsAccumulatedLosses2023-03-31SC622104ns6:RetainedEarningsAccumulatedLosses2022-03-31SC622104ns6:CostValuation2022-03-31SC622104ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-31SC622104ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31
REGISTERED NUMBER: SC622104















LITTLE'S HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023














LITTLE'S HOLDINGS LIMITED (REGISTERED NUMBER: SC622104)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


LITTLE'S HOLDINGS LIMITED (REGISTERED NUMBER: SC622104)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,000 1,000
Investment property 5 610,000 610,000
611,000 611,000

CURRENT ASSETS
Debtors 6 400,722 435,193

CREDITORS
Amounts falling due within one year 7 - 34,501
NET CURRENT ASSETS 400,722 400,692
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,011,722
1,011,692

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 1,010,660 1,010,660
Retained earnings 62 32
1,011,722 1,011,692

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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

Page 1 continued...
LITTLE'S HOLDINGS LIMITED (REGISTERED NUMBER: SC622104)

BALANCE SHEET - continued
31 MARCH 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2023 and were signed on its behalf by:





Mrs H A Matthews - Director


The notes form part of these financial statements

Page 2
LITTLE'S HOLDINGS LIMITED (REGISTERED NUMBER: SC622104)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Little's Holdings Limited is a private company, limited by shares, registered in Scotland. The address of the registered office is 1282 Paisley Road West, Glasgow, United Kingdom, G52 1DB.

The financial statements are presented in 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.

Preparation of consolidated financial statements
The financial statements contain information about Little's Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. : The directors consider there are no such significant judgements.

Investments in subsidiaries
Investments representing shareholdings in unquoted subsidiary undertakings are stated at cost less impairment.

Investment property
The company's investment property is held for long term investment and accounted for as follows:-

(i) Investment property is initially recorded at cost which includes purchase cost and any directly attributable expenditure.

(ii) Thereafter, investment property is revalued at each balance sheet date to it's fair value, where this can be measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

Page 3 continued...
LITTLE'S HOLDINGS LIMITED (REGISTERED NUMBER: SC622104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like other accounts receivable and payable, loans from other third parties and loans to related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider it to be more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates which would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Page 4 continued...
LITTLE'S HOLDINGS LIMITED (REGISTERED NUMBER: SC622104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2022
and 31 March 2023 1,000
NET BOOK VALUE
At 31 March 2023 1,000
At 31 March 2022 1,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 610,000
NET BOOK VALUE
At 31 March 2023 610,000
At 31 March 2022 610,000

The fair value of the investment properties at 31 March 2023, has been arrived at on the basis of a valuation carried out at that date by the company directors, who are not professionally qualified valuers. The directors are of the opinion that cost continues to be an accurate representation of fair value at the year end.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 399,722 434,193
Other debtors 1,000 1,000
400,722 435,193

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors - 34,501

8. RELATED PARTY DISCLOSURES

The balance due to a director at the balance sheet date was £NIL (2022: £33,001). This loan is interest free, unsecured, and no repayment terms have been established.

Page 5