Lets Buy Limited

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lets buy limited Company Information

Live

Mature

Company Number

02614922

Next Accounts

Feb 2025

Industry

Buying and selling of own real estate

Letting and operating of own or leased real estate (other than Housing Association real estate and conference and exhibition services) n.e.c.

Directors

Lakis Michaelides

Panayiota Michaelides

Shareholders

lakis michaelides

Group Structure

View All

Contact

Registered Address

18-20 frognal, london, NW3 6AG

Website

letsbuygold.com

lets buy limited Estimated Valuation

£0

Pomanda estimates the enterprise value of LETS BUY LIMITED at £0 based on a Turnover of £0 and 3.1x industry multiple (adjusted for size and gross margin).

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Lets Buy Limited is a live company located in london, NW3 6AG with a Companies House number of 02614922. It operates in the buying and selling of own real estate sector, SIC Code 68100. Founded in May 1991, it's largest shareholder is lakis michaelides with a 100% stake. Lets Buy Limited is a mature, unknown sized company, Pomanda has estimated its turnover at £0 with unknown growth in recent years.

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Pomanda's financial health check has awarded Lets Buy Limited a 1 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 1 areas for improvement. Company Health Check FAQs

Health Rating1out of 5

1 Strong

0 Regular

1 Weak

Size

There is insufficient data available for this Key Performance Indicator!

Growth

There is insufficient data available for this Key Performance Indicator!

EXPORT

Lets Buy Limited's latest turnover from May 2023 is estimated at 0 and the company has net assets of £3.7 million. According to their latest financial statements, we estimate that Lets Buy Limited has no employees and maintains cash reserves of £50.4 thousand as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	May 2011	May 2010
Turnover	0	529,081	8,506,523	13,984,405	14,735,332	13,459,700	9,306,460	32,393,302	19,704,062	18,938,675	20,063,263	19,954,585	12,167,987	9,401,623
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	0	161,246	2,592,899	4,244,817	4,462,378	3,907,137	2,702,458	9,690,338	7,018,575	7,325,667	7,288,087	7,240,497	4,230,693	3,354,399
Gross Profit	0	367,835	5,913,624	9,739,588	10,272,954	9,552,563	6,604,002	22,702,965	12,685,487	11,613,008	12,775,175	12,714,088	7,937,294	6,047,224
Admin Expenses	-1,815,452	-2,026,591	5,458,092	9,541,498	10,036,141	8,946,973	6,389,270	22,093,117	12,202,980	11,064,512	12,360,506	12,539,500	7,941,574	6,040,786
Operating Profit	1,815,452	2,394,426	455,532	198,090	236,813	605,590	214,732	609,848	482,507	548,496	414,669	174,588	-4,280	6,438
Interest Payable	297,829	447,766	557,469	508,414	475,706	538,200	524,728	439,868	435,202	443,060	449,746	224,363	0	0
Interest Receivable	1,483	119	18	33	437	364	232	597	858	1,166	1,225	625	185	176
Pre-Tax Profit	1,519,107	1,946,779	-101,919	-310,291	-238,456	67,754	-309,764	170,576	48,163	106,603	-33,853	-49,150	-4,095	6,614
Tax	-379,777	-369,888	0	0	0	-12,873	0	-34,115	-9,632	-22,387	0	0	0	-1,852
Profit After Tax	1,139,330	1,576,891	-101,919	-310,291	-238,456	54,881	-309,764	136,461	38,530	84,216	-33,853	-49,150	-4,095	4,762
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	1,139,330	1,576,891	-101,919	-310,291	-238,456	54,881	-309,764	136,461	38,530	84,216	-33,853	-49,150	-4,095	4,762
Employee Costs	0	99,862	125,271	136,362	165,906	159,061	122,555	5,961,786	3,089,911	3,032,024	3,231,611	3,288,213	1,990,119	1,677,088
Number Of Employees	0	3	4	4	5	5	4	186	101	98	109	113	69	58
EBITDA*	1,815,452	2,394,426	455,917	198,219	236,984	605,818	215,036	610,254	483,048	549,217	415,630	175,870	-2,570	8,718

* Earnings Before Interest, Tax, Depreciation and Amortisation

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	May 2011	May 2010
Tangible Assets	0	6,500,000	13,135,000	14,000,385	13,500,514	13,275,679	9,003,120	8,902,465	8,902,871	8,808,309	8,809,030	8,809,991	8,733,125	8,734,835
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments & Other	3,110,000	167	167	167	167	167	67	67	67	67	67	67	67	67
Debtors (Due After 1 year)	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	3,110,000	6,500,167	13,135,167	14,000,552	13,500,681	13,275,846	9,003,187	8,902,532	8,902,938	8,808,376	8,809,097	8,810,058	8,733,192	8,734,902
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	0	0	1,600,037	1,609,560	1,548,487	1,426,494	928,990	2,322,881	2,198,789	2,135,991	2,303,805	2,294,397	1,347,949	1,065,835
Group Debtors	2,798,940	2,029,280	2,739,345	2,714,468	1,261,599	1,141,689	1,613,204	0	0	0	0	0	0	0
Misc Debtors	625,384	1,059,816	1,475,272	1,645,804	1,943,155	2,336,627	2,535,343	0	0	0	0	0	0	0
Cash	50,387	15,536	8,222	28,194	38,008	78,593	67,168	118,448	120,254	222,817	243,491	246,407	3,581	70,483
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	1	1
total current assets	3,474,711	3,104,632	5,822,876	5,998,026	4,791,249	4,983,403	5,144,705	2,441,329	2,319,043	2,358,808	2,547,296	2,540,804	1,351,531	1,136,319
total assets	6,584,711	9,604,799	18,958,043	19,998,578	18,291,930	18,259,249	14,147,892	11,343,861	11,221,981	11,167,184	11,356,393	11,350,862	10,084,723	9,871,221
Bank overdraft	10,783	0	0	0	0	0	0	148,484	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Creditors	0	0	2	0	0	0	0	0	250,589	229,725	265,985	258,020	346,634	129,061
Group/Directors Accounts	208,445	295,942	363,185	383,661	571,721	1,436,821	0	0	0	0	0	0	0	0
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	122,480	164,730	152,709	114,914	109,215	72,984	139,729	134,645	0	0	0	0	0	0
total current liabilities	341,708	460,672	515,896	498,575	680,936	1,509,805	139,729	283,129	250,589	229,725	265,985	258,020	346,634	129,061
loans	1,962,211	3,699,940	9,093,363	9,184,300	7,485,000	6,610,000	9,950,000	6,692,805	6,693,121	6,697,718	6,934,883	6,903,464	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	5,499,561	5,499,537
provisions	573,287	890,722	1,932,204	2,096,554	2,001,554	1,958,803	675,063	716,311	0	0	0	0	0	0
total long term liabilities	2,535,498	4,590,662	11,025,567	11,280,854	9,486,554	8,568,803	10,625,063	7,409,116	6,693,121	6,697,718	6,934,883	6,903,464	5,499,561	5,499,537
total liabilities	2,877,206	5,051,334	11,541,463	11,779,429	10,167,490	10,078,608	10,764,792	7,692,245	6,943,710	6,927,443	7,200,868	7,161,484	5,846,195	5,628,598
net assets	3,707,505	4,553,465	7,416,580	8,219,149	8,124,440	8,180,641	3,383,100	3,651,616	4,278,271	4,239,741	4,155,525	4,189,378	4,238,528	4,242,623
total shareholders funds	3,707,505	4,553,465	7,416,580	8,219,149	8,124,440	8,180,641	3,383,100	3,651,616	4,278,271	4,239,741	4,155,525	4,189,378	4,238,528	4,242,623

	May 2023	May 2022	May 2021	May 2020	May 2019	May 2018	May 2017	May 2016	May 2015	May 2014	May 2013	May 2012	May 2011	May 2010
Operating Activities
Operating Profit	1,815,452	2,394,426	455,532	198,090	236,813	605,590	214,732	609,848	482,507	548,496	414,669	174,588	-4,280	6,438
Depreciation	0	0	385	129	171	228	304	406	541	721	961	1,282	1,710	2,280
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	-379,777	-369,888	0	0	0	-12,873	0	-34,115	-9,632	-22,387	0	0	0	-1,852
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	335,228	-2,725,558	-155,178	1,216,591	-151,569	-172,727	2,754,656	124,092	62,798	-167,814	9,408	946,448	282,114	1,065,835
Creditors	0	-2	2	0	0	0	0	-250,589	20,864	-36,260	7,965	-88,614	217,573	129,061
Accruals and Deferred Income	-42,250	12,021	37,795	5,699	36,231	-66,745	5,084	134,645	0	0	0	0	0	0
Deferred Taxes & Provisions	-317,435	-1,041,482	-164,350	95,000	42,751	1,283,740	-41,248	716,311	0	0	0	0	0	0
Cash flow from operations	740,762	3,720,633	484,542	-917,673	467,535	1,982,667	-2,575,784	1,052,414	431,482	658,384	414,187	-859,192	-67,111	-929,908
Investing Activities
capital expenditure	6,500,000	6,635,000	865,000	-500,000	-225,006	-4,272,787	-100,959	0	-95,103	0	0	-78,148	0	-8,737,115
Change in Investments	3,109,833	0	0	0	0	100	0	0	0	0	0	0	0	67
cash flow from investments	3,390,167	6,635,000	865,000	-500,000	-225,006	-4,272,887	-100,959	0	-95,103	0	0	-78,148	0	-8,737,182
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Group/Directors Accounts	-87,497	-67,243	-20,476	-188,060	-865,100	1,436,821	0	0	0	0	0	0	0	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	-1,737,729	-5,393,423	-90,937	1,699,300	875,000	-3,340,000	3,257,195	-316	-4,597	-237,165	31,419	6,903,464	0	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	-5,499,561	24	5,499,537
share issue	-1,985,290	-4,440,006	-700,650	405,000	182,255	4,742,660	41,248	-763,116	0	0	0	0	0	4,237,861
interest	-296,346	-447,647	-557,451	-508,381	-475,269	-537,836	-524,496	-439,271	-434,344	-441,894	-448,521	-223,738	185	176
cash flow from financing	-4,106,862	-10,348,319	-1,369,514	1,407,859	-283,114	2,301,645	2,773,947	-1,202,703	-438,941	-679,059	-417,102	1,180,165	209	9,737,574
cash and cash equivalents
cash	34,851	7,314	-19,972	-9,814	-40,585	11,425	-51,280	-1,806	-102,563	-20,674	-2,916	242,826	-66,902	70,483
overdraft	10,783	0	0	0	0	0	-148,484	148,484	0	0	0	0	0	0
change in cash	24,068	7,314	-19,972	-9,814	-40,585	11,425	97,204	-150,290	-102,563	-20,674	-2,916	242,826	-66,902	70,483

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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LETS BUY LIMITED group structure

Lets Buy Limited has 3 subsidiary companies.

Ultimate parent company

LETS BUY LIMITED

02614922

3 subsidiaries

APEX PROPERTIES LIMITED

03333382

LET'S BET HOLDINGS LIMITED

11058875

LETS BUY 2 LTD

11222837

LETS BUY LIMITED Shareholders

lakis michaelides

100%

Lets Buy Limited currently has 2 directors. The longest serving directors include Mr Lakis Michaelides (May 2003) and Mrs Panayiota Michaelides (Apr 2016).

officer	country	age	start	end	role
Mr Lakis Michaelides	England	60 years	May 2003	-	Director
Mrs Panayiota Michaelides	England	91 years	Apr 2016	-	Director

P&L

May 2023

turnover

-100%

operating profit

1.8m

gross margin

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

May 2023

net assets

3.7m

-0.19%

total assets

6.6m

-0.31%

cash

50.4k

+2.24%

net assets

Total assets minus all liabilities

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company number

02614922

Type

Private limited with Share Capital

industry

68100 - Buying and selling of own real estate

68209 - Letting and operating of own or leased real estate (other than Housing Association real estate and conference and exhibition services) n.e.c.

incorporation date

May 1991

ultimate parent company

None

previous names

gamore builders limited (February 1992)

address

18-20 frognal, london, NW3 6AG

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We found 64 charges/mortgages relating to lets buy limited. Currently there are 17 open charges and 47 have been satisfied in the past.

When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.

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