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REGISTERED NUMBER:
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Lonsdale Properties Limited |
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Unaudited Financial Statements |
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for the Year Ended 30 June 2017 |
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REGISTERED NUMBER:
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Lonsdale Properties Limited |
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Unaudited Financial Statements |
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for the Year Ended 30 June 2017 |
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Lonsdale Properties Limited (Registered number: 01472918) |
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Contents of the Financial Statements |
for the year ended 30 June 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Lonsdale Properties Limited |
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Company Information |
for the year ended 30 June 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
Lonsdale Properties Limited (Registered number: 01472918) |
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Balance Sheet |
30 June 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Revaluation reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Lonsdale Properties Limited (Registered number: 01472918) |
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Balance Sheet - continued |
30 June 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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Lonsdale Properties Limited (Registered number: 01472918) |
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Notes to the Financial Statements |
for the year ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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Lonsdale Properties Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents rent receivable, excluding value added tax. |
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Tangible fixed assets |
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Equipment | - |
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Fixtures and fittings | - |
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Investment property |
In accordance with Statement of Standard Accounting Practice No 19, the company's properties are |
held for long term investment and are included in the balance sheet at their open market values. The |
surpluses or deficits on annual revaluation of such properties are transferred to the investment |
property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. |
Leasehold investment properties are not amortised where the unexpired term is over twenty years. |
This policy represents a departure from statutory accounting principles, which require depreciation to |
be provided on all fixed assets. The directors' consider that this policy is necessary in order that the |
financial statements may give a true and fair view because current values and changes in current |
values are of prime importance rather than the calculation of systematic annual depreciation. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Lonsdale Properties Limited (Registered number: 01472918) |
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Notes to the Financial Statements - continued |
for the year ended 30 June 2017 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
Equipment | fittings | Totals |
£ | £ | £ |
COST |
At 1 July 2016 |
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Additions |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 July 2016 |
and 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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One investment property was valued at market value of £425,000 by Carigiet Cowen, Chartered |
Surveyors, as at 17 April 2008. The directors consider this to be the market value at 30 June 2017. |
The remaining properties have been valued by the directors at £589,410 which the directors consider |
to be their market value at 30 June 2017. On a historical cost basis, the land and buildings would have |
been included at £786,377 (2016: £786,377). |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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VAT |
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Prepayments and accrued income |
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Lonsdale Properties Limited (Registered number: 01472918) |
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Notes to the Financial Statements - continued |
for the year ended 30 June 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Corporation tax |
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Social security and other taxes |
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VAT | - | 2,105 |
Other creditors |
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Directors' current accounts | 116,410 | 129,296 |
Accruals and deferred income |
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The directors' current accounts are unsecured, interest free and have no fixed repayment date. |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Directors' loan accounts | 150,000 | 100,000 |
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The directors' loan accounts are unsecured and interest free. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary A | £1 | 27 | 27 |
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Ordinary B | £1 | 25 | 25 |
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Ordinary C | £1 | 24 | 24 |
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Ordinary D | £1 | 24 | 24 |
100 | 100 |
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10. | RESERVES |
Revaluation |
reserve |
£ |
At 1 July 2016 |
and 30 June 2017 |
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11. | RELATED PARTY DISCLOSURES |
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In the opinion of the directors the company is controlled by Mr & Mrs RW Waite. |
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12. | FIRST YEAR ADOPTION |
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This is the first year in which the entity has adopted FRS102. The director has reviewed in detail the |
requirements of FRS102 and having considered all aspects of the entity's accounting policies, the |
director is able to confirm that there were no adjustments necessary to any comparative amounts as a |
result of the transition to FRS102. |