LX Properties (Norman Road) Ltd - Accounts to registrar (filleted) - small 18.2
LX Properties (Norman Road) Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 September 2021 |
| for |
| LX Properties (Norman Road) Ltd |
| LX Properties (Norman Road) Ltd (Registered number: 12120010) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| LX Properties (Norman Road) Ltd |
| Company Information |
| for the Year Ended 30 September 2021 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered accountants |
| 85 Church Road |
| Hove |
| East Sussex |
| BN3 2BB |
| LX Properties (Norman Road) Ltd (Registered number: 12120010) |
| Balance Sheet |
| 30 September 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Investment property | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank |
| Creditors: amounts falling due within one year |
6 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Provisions for liabilities |
| Net assets |
| Capital and reserves |
| Called up share capital | 8 |
| Fair value reserve | 9 |
| 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. |
| LX Properties (Norman Road) Ltd (Registered number: 12120010) |
| Balance Sheet - continued |
| 30 September 2021 |
| 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 and authorised for issue on |
| LX Properties (Norman Road) Ltd (Registered number: 12120010) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2021 |
| 1. | Statutory information |
| LX Properties (Norman Road) Ltd is a |
| The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£). |
| The comparatives are not entirely comparable as the prior period covered the 14 months from the date of incorporation. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| 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. |
| Financial instruments |
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. |
| LX Properties (Norman Road) Ltd (Registered number: 12120010) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2021 |
| 3. | Employees and directors |
| The average number of employees during the year was NIL (2020 - NIL). |
| 4. | Investment property |
| Total |
| £ |
| Fair value |
| At 1 October 2020 |
| Additions |
| Revaluations | 8,168 |
| At 30 September 2021 |
| Net book value |
| At 30 September 2021 |
| At 30 September 2020 |
| The investment property fair value of £732,000 (2020 - £367,500) was determined by the directors based on the market value of property in the area. |
| 5. | Debtors: amounts falling due within one year |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| 6. | Creditors: amounts falling due within one year |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Amounts owed to group undertakings |
| Other creditors |
| LX Properties (Norman Road) Ltd (Registered number: 12120010) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2021 |
| 7. | Secured debts |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Bank loans are secured against investment property. |
| 8. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 9. | Reserves |
| Fair |
| value |
| reserve |
| £ |
| At 1 October 2020 |
| Revaluation | 6,617 |
| At 30 September 2021 |