Lld Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC450738 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

Lld Properties Ltd

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

DIRECTORS:

Mrs L Kerr

Mr D D Kerr

REGISTERED OFFICE:

Pavilion 2

3 Dava Street

Broomloan Road

Glasgow

G51 2JA

REGISTERED NUMBER:

SC450738 (Scotland)

ACCOUNTANTS:

Burgoyne Carey

Chartered Accountants

Pavilion 2

3 Dava Street

Broomloan Road

Glasgow

G51 2JA

FIXED ASSETS

Investment property

4

558,552

558,552

CURRENT ASSETS

Cash at bank

25,533

65,338

CREDITORS

Amounts falling due within one year

5

419,433

480,661

NET CURRENT LIABILITIES

(393,900

)

(415,323

)

TOTAL ASSETS LESS CURRENT LIABILITIES

164,652

143,229

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

164,552

143,129

SHAREHOLDERS' FUNDS

164,652

143,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2020 and were signed on its behalf by:

Mr D D Kerr - Director

1.	STATUTORY INFORMATION

Lld Properties Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and

registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair

value is recognised in profit or loss.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	INVESTMENT PROPERTY

The directors have reviewed the property market and consider that the current market value of the company's properties

is equivalent to their cost.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Tax

5,025

7,516

VAT

1,955

1,585

Directors' current accounts

411,853

470,960

Accrued expenses

600

600

419,433

480,661

6.	DIRECTORS LOANS

The following advances from directors subsisted during the years ended 31 May 2020 and 31 May 2019:

2020

2019

£

£

Mr D D Kerr

Balance outstanding at start of year

235,480

270,470

Amounts repaid

(29,554

)

(34,990

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

205,926

235,480

Mrs L Kerr

Balance outstanding at start of year

235,480

269,510

Amounts repaid

(29,553

)

(34,030

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

205,927

235,480