Lindmead Limited - Accounts to registrar (filleted) - small 18.2
Lindmead Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2019 |
| FOR |
| LINDMEAD LIMITED |
| LINDMEAD LIMITED (REGISTERED NUMBER: 01321701) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 April 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| LINDMEAD LIMITED |
| COMPANY INFORMATION |
| for the year ended 30 April 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Magma House |
| 16 Davy Court |
| Castle Mound Way |
| Rugby |
| CV23 0UZ |
| LINDMEAD LIMITED (REGISTERED NUMBER: 01321701) |
| BALANCE SHEET |
| 30 April 2019 |
| 2019 | 2018 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Other reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| LINDMEAD LIMITED (REGISTERED NUMBER: 01321701) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 April 2019 |
| 1. | STATUTORY INFORMATION |
| Lindmead Limited is a private company limited by share capital, registered in England and Wales. Its registered |
| office address is 30 Harbord Street, London, SW6 6PJ and the registered number is 01321701. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentation currency of the financial statements is Sterling (£). |
| Turnover |
| Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Turnover represents sales of properties, rents and share of profits on property dealing in the normal course of |
| business and has been derived from the principal activity of the company. |
| Investment property |
| Investment property comprises freehold buildings. They are measured initially at cost, including related |
| transaction costs. These are held as investments to earn rental income and for capital appreciation and are |
| stated at fair value at the Balance Sheet date. |
| Subsequent expenditure is added to the assets carrying amount only when it is probable that future economic |
| benefits associated with the item will flow to the company and the cost of the item can be measured reliably. All |
| other repairs and maintenance costs are charged to the profit and loss account during the financial period in |
| which they are incurred. |
| Any movement in the fair value of the properties is reflected within the profit and loss account for the year. |
| Stocks |
| Trading properties are stated at the lower of cost and estimated selling price less costs to complete and sell. |
| At each balance sheet date, trading properties are assessed for impairment. If stock is impaired, the carrying |
| amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised |
| immediately in profit or loss. |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial |
| assets and liabilities like trade and other debtors and creditors, loans from banks and loans from related parties. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
| for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
| recognised in profit or loss. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
| enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
| the asset and settle the liability simultaneously. |
| Debtors |
| Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
| arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
| future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
| using the effective interest method, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by deposits held at call with financial institutions. |
| LINDMEAD LIMITED (REGISTERED NUMBER: 01321701) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 April 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| Creditors |
| Basic financial liabilities, including trade and other creditors, and loans from third parties and related parties, are |
| initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the |
| debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
| Such instruments are subsequently carried at amortised cost using the effective interest method, less any |
| impairment. |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised |
| as other comprehensive income or to an item recognised directly in equity is also recognised in other |
| comprehensive income or directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
| the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
| against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
| been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 May 2018 |
| and 30 April 2019 |
| NET BOOK VALUE |
| At 30 April 2019 |
| At 30 April 2018 |
| Fair value at 30 April 2019 is represented by: |
| £ |
| Valuation in 2013 | 42,045 |
| Valuation in 2017 | 90,000 |
| Cost | 1,901,491 |
| 2,033,536 |
| The investment properties were valued on an open market value basis on 30 April 2019 by the Directors. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| LINDMEAD LIMITED (REGISTERED NUMBER: 01321701) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 April 2019 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts | 3,270,000 | 3,390,000 |
| The bank loan is secured by a fixed charge dated 28 September 2015 incorporating a fixed and floating charge |
| on all property and undertakings of the company. |