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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 2018 |
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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 2018 |
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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 2018 |
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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 2018 |
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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 2018 |
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2018 | 2017 |
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 | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Revaluation reserve | 11 |
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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 2018 |
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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
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 2018 |
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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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The presentation currency of the financial statements is the Pound Sterling (£). |
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The amounts in the financial statements have been rounded to the nearest £1. |
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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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Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions |
of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are |
initially measured at transaction price and are subsequently carried at cost unless the arrangement |
indicates otherwise and then the asset is measured at the present value of the future receipts |
discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, |
bank loans and group borrowings, are initially recognised at transaction price and are subsequently |
carried at cost unless the arrangement indicates otherwise and then the liability is measured at the |
present value of the future obligations discounted at a market rate of interest. |
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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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Lonsdale Properties Limited (Registered number: 01472918) |
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Notes to the Financial Statements - continued |
for the year ended 30 June 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
Equipment | fittings | Totals |
£ | £ | £ |
COST |
At 1 July 2017 |
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Disposals |
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At 30 June 2018 |
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DEPRECIATION |
At 1 July 2017 |
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Charge for year |
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Eliminated on disposal |
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At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 July 2017 |
and 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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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 2018 |
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5. | INVESTMENT PROPERTY - continued |
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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 2018. |
The remaining properties have been valued by the directors at £589,410 which the directors consider |
to be their market value at 30 June 2018. On a historical cost basis, the land and buildings would have |
been included at £786,377 (2017: £786,377). |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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VAT |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Corporation tax |
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Social security and other taxes |
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VAT | 1,967 | - |
Other creditors |
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Directors' current accounts | 110,827 | 116,410 |
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 |
2018 | 2017 |
£ | £ |
Directors' loan accounts | 200,000 | 150,000 |
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The directors' loan accounts are unsecured and interest free. |
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9. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Deferred |
tax |
£ |
Balance at 1 July 2017 |
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Provided during year | ( |
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Balance at 30 June 2018 |
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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 2018 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
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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11. | RESERVES |
Revaluatio |
reserve |
£ |
At 1 July 2017 |
and 30 June 2018 |
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12. | RELATED PARTY DISCLOSURES |
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In the opinion of the directors the company is controlled by Mr & Mrs RW Waite. |