Langley Property Trading (Walthamstow) L - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07674085 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 November 2022

for

Langley Property Trading (Walthamstow)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms N Lane

E Langley

REGISTERED OFFICE:

C/O Michael Omiros Ltd

48 Warwick Street

London

W1B 5AW

REGISTERED NUMBER:

07674085 (England and Wales)

CURRENT ASSETS

Work-in-progress

577,182

577,182

Debtors

4

729,662

711,864

1,306,844

1,289,046

CREDITORS

Amounts falling due within one year

5

107,944

89,681

NET CURRENT ASSETS

1,198,900

1,199,365

TOTAL ASSETS LESS CURRENT LIABILITIES

1,198,900

1,199,365

CREDITORS

Amounts falling due after more than one year

6

1,167,825

1,167,825

NET ASSETS

31,075

31,540

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

31,074

31,539

31,075

31,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 November 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 28 November 2023 and were signed on its behalf by:

Ms N Lane - Director

1.	STATUTORY INFORMATION

Langley Property Trading (Walthamstow) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

Stock consists of land and property and is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately 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 2 (2021 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.11.22

28.11.21

£

£

Amounts owed by group undertakings

729,662

711,864

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.11.22

28.11.21

£

£

Trade creditors

144

144

Amounts owed to group undertakings

50,746

50,746

Other creditors

57,054

38,791

107,944

89,681

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.11.22

28.11.21

£

£

Bank loans

1,167,825

1,167,825

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,167,825

1,167,825

7.	CONTINGENT LIABILITIES

The company entered into a loan agreement between Henley Property Developments Limited, Henley Property Holdings Limited and the lender to borrow £3,909,675. The loan is secured by a legal charge over each of the companies freehold properties.