Company Registration No. 05794239 (England and Wales)
L.V.L. Limited
Unaudited filleted accounts
for the year ended 30 April 2018
L.V.L. Limited
Unaudited filleted accounts
Contents
L.V.L. Limited
Company Information
for the year ended 30 April 2018
Directors
Keith Dipper
Elizabeth Royle
Company Number
05794239 (England and Wales)
Registered Office
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
United Kingdom
Accountants
Langers
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
L.V.L. Limited
Statement of financial position
as at
30 April 2018
Investment property
288,902
279,503
Cash at bank and in hand
216
175
Creditors: amounts falling due within one year
(185,437)
(177,658)
Net current liabilities
(185,167)
(177,380)
Total assets less current liabilities
103,735
102,123
Creditors: amounts falling due after more than one year
(70,948)
(79,609)
Provisions for liabilities
Deferred tax
(6,321)
(4,535)
Called up share capital
100
100
Revaluation reserve
26,224
18,611
Profit and loss account
142
(732)
Shareholders' funds
26,466
17,979
For the year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 6 November 2018.
Keith Dipper
Director
Company Registration No. 05794239
L.V.L. Limited
Notes to the Accounts
for the year ended 30 April 2018
L.V.L. Limited is a private company, limited by shares, registered in England and Wales, registration number 05794239. The registered office is 8-10 Gatley Road, Cheadle, Cheshire, SK8 1PY, United Kingdom. The principal place of business is 144 Stockport Road, Cheadle, SK8 2DP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
L.V.L. Limited
Notes to the Accounts
for the year ended 30 April 2018
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Investment property
2018
Fair value at 1 May 2017
279,503
Net gain from fair value adjustments
9,399
Investment property is revalued in line with the consumer price index.
Accrued income and prepayments
54
103
6
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
8,717
8,706
Amounts owed to group undertakings and other participating interests
90,415
82,053
Loans from directors
78,561
78,561
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Creditors: amounts falling due after more than one year
2018
2017
Aggregate of amounts that fall due for payment after five years
33,768
43,433
The loan is secured against the property owned by the company.
8
Share capital
2018
2017
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
At 30 April 2018 the company owed £78,561 to a director (2017: £78,561). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.
10
Average number of employees
During the year the average number of employees was 2 (2017: 2).