Linglands Property Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11254669 (England and Wales)

Unaudited Financial Statements

for the Period

1 April 2020 to 30 September 2021

for

Linglands Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr Brian Thompson

Miss Samantha Jane Boothby

Registered office:

Beacon Works

Barmoor Lane

Scalby

Scarboorugh

North Yorkshire

YO13 0PQ

Registered number:

11254669 (England and Wales)

Accountants:

Fortus North Limited

Business Advisors & Accountants

62/63 Westborough

Scarborough

North Yorkshire

YO11 1TS

Fixed assets

Tangible assets

4

-

1,924

Investment property

5

-

878,000

-

879,924

Current assets

Debtors

6

12,313

2,648

Cash at bank

6,821

6,254

19,134

8,902

Creditors

Amounts falling due within one year

7

19,124

895,443

Net current assets/(liabilities)

10

(886,541

)

Total assets less current liabilities

10

(6,617

)

Provisions for liabilities

8

-

33

Net assets/(liabilities)

10

(6,650

)

Capital and reserves

Called up share capital

10

10

Fair value reserve

9

-

142

Retained earnings

-

(6,802

)

Shareholders' funds

10

(6,650

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2021 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2021 and were signed on its behalf by:

Mr Brian Thompson - Director

1.	Statutory information

Linglands Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The level of rounding used in the financial statements is to the nearest £1.

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.

Turnover

The turnover shown in the profit and loss account represents the total invoice value, excluding value added tax, of sales made during the year. Sales are recognised in the profit and loss account in the period in which they relate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Investment property

Investment properties are properties held to earn rentals or for capital appreciation or both.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. Deferred taxation is provided on these gains.

Taxation

Taxation for the period 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 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 period 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 period was NIL (2020 - NIL).

4.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 April 2020

2,779

Disposals

(2,779

)

At 30 September 2021

-

Depreciation

At 1 April 2020

855

Eliminated on disposal

(855

)

At 30 September 2021

-

Net book value

At 30 September 2021

-

At 31 March 2020

1,924

5.	Investment property

Total

£

Fair value

At 1 April 2020

878,000

Additions

1,125,931

Disposals

(2,003,931

)

At 30 September 2021

-

Net book value

At 30 September 2021

-

At 31 March 2020

878,000

6.

Debtors: amounts falling due within one year

2021

2020

£

£

Other debtors

12,313

2,648

7.

Creditors: amounts falling due within one year

2021

2020

£

£

Trade creditors

-

1,924

Taxation and social security

19,124

-

Other creditors

-

893,519

19,124

895,443

8.	Provisions for liabilities

2021

2020

£

£

Deferred tax

-

33

Deferred tax

£

Balance at 1 April 2020

33

Credit to Profit and Loss Account during period

(33

)

Balance at 30 September 2021

-

9.

Reserves

Fair value

reserve

£

At 1 April 2020

142

Transfer of realised profits

(142

)

At 30 September 2021

-

10.	Controlling party