Registration number:
Lebanon Property Trust (1936)
trading as
for the Year Ended 31 March 2020
Lebanon Property Trust (1936)
trading as (An unlimited company having shares)
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Lebanon Property Trust (1936)
trading as (An unlimited company having shares)
Company Information
Directors |
Mr MJ Sloggett Mrs SM Sloggett |
Company secretary |
Mrs G Gaut |
Registered office |
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Accountants |
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Lebanon Property Trust (1936)
trading as (An unlimited company having shares)
(Registration number: 00317593)
Balance Sheet as at 31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
- |
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Investment property |
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Other financial assets |
28 |
28 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
80,002 |
80,002 |
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Other reserves |
2,845,117 |
2,587,535 |
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Profit and loss account |
9,267,456 |
9,282,467 |
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Total equity |
12,192,575 |
11,950,004 |
For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Lebanon Property Trust (1936)
trading as (An unlimited company having shares)
(Registration number: 00317593)
Balance Sheet as at 31 March 2020
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
Lebanon Property Trust (1936)
trading as (An unlimited company having shares)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales. The address of it's registered office is on the Company Information page.
The principal place of business is:
50 Pennylets Green
Stoke Poges
Slough
Buckinghamshire
SL2 4BX
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
We have paid particular attention to the likely effects on the business of the current Covid-19 outbreak and the directors remain confident that sufficient funding is in place and that the company has adequate resources to enable the company to continue as a going concern for the foreseeable future.
Revenue recognition
Turnover represents rental and service charge income receivable by the company, excluding value added tax.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Lebanon Property Trust (1936)
trading as (An unlimited company having shares)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% on reducing balance |
Computer equipment |
33% on cost |
Investment property
Investments
Fixed asset investments are valued at cost.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Lebanon Property Trust (1936)
trading as (An unlimited company having shares)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2019 |
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Disposals |
( |
( |
At 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
- |
- |
At 31 March 2019 |
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Lebanon Property Trust (1936)
trading as (An unlimited company having shares)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Investment properties |
2020 |
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At 1 April 2019 |
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Fair value adjustments |
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At 31 March 2020 |
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In 2020, the investment properties were valued on an open market basis by Robert Warde FRICS and Rodgers Estate Agents. Had the investment properties been measured on a historical cost basis, the carrying amount would have been £4,397,465 (2019; £4,397,465).
Other financial assets (current and non-current) |
Unlisted investment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2019 |
28 |
28 |
At 31 March 2020 |
28 |
28 |
Impairment |
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Carrying amount |
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At 31 March 2020 |
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28 |
Debtors |
Note |
2020 |
2019 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors and prepayments |
7,650 |
6,941 |
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Director current account |
418,025 |
297,772 |
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Total current trade and other debtors |
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Lebanon Property Trust (1936)
trading as (An unlimited company having shares)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Creditors |
Note |
2020 |
2019 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors, accruals and deferred income |
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Corporation tax |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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80,002 |
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80,002 |
Lebanon Property Trust (1936)
trading as (An unlimited company having shares)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Related party transactions |
Loans to related parties
2020 |
Key management |
At start of period |
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Advanced |
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Repaid |
( |
At end of period |
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2019 |
Key management |
At start of period |
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Advanced |
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Repaid |
( |
At end of period |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The ultimate controlling party is