LGFR Properties Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08995080 (England and Wales)

LGFR PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2017

Page

Company Information

1

Accountants' Report

2

Abridged Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

C Conroy

J R Allison

SECRETARY:

C Conroy

REGISTERED OFFICE:

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

REGISTERED NUMBER:

08995080 (England and Wales)

ACCOUNTANTS:

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the

company is only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of LGFR Properties Ltd for the year ended 30th April 2017 which

comprise the Income Statement, Abridged Statement of Financial Position, and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of LGFR Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LGFR Properties Ltd and state those matters that we have agreed to state to the Board of Directors of LGFR Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LGFR Properties Ltd Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that LGFR Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LGFR Properties Ltd. You consider that LGFR Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of LGFR Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

25th July 2017

FIXED ASSETS

Investment property

4

180,890

-

CURRENT ASSETS

Stocks

-

220,975

Cash at bank

3,976

16,786

3,976

237,761

CREDITORS

Amounts falling due within one year

(3,703

)

(900

)

NET CURRENT ASSETS

273

236,861

TOTAL ASSETS LESS CURRENT LIABILITIES

181,163

236,861

CREDITORS

Amounts falling due after more than one year

5

(169,979

)

(242,057

)

NET ASSETS/(LIABILITIES)

11,184

(5,196

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

11,084

(5,296

)

SHAREHOLDERS' FUNDS

11,184

(5,196

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30th April 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 20th July 2017 and were signed on its behalf by:

J R Allison - Director

1.	STATUTORY INFORMATION

LGFR Properties Ltd 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.

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these

financial statements.

Revenue

Revenue represents the total invoice value, excluding value added tax, trade discounts and all other

taxes of sales made during the year.

Revenue recognition

Revenue is recognised in the profit and loss account at the point that the property and land sale is

made and risk of ownership is transferred to the customer.

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.

Inventories

Stocks and work in progress are valued at the lower of cost and net realisable value, after making

due allowance for obsolete and slow moving items.

Land held for development, including land in the course of development until legal completion of the

sale of the asset, is initially recorded at cost. Regular reviews are carried out to identify any

impairment in the value of the land by comparing the total estimated selling price less estimated

selling expenses against the book cost of the land plus estimated costs to complete.

Financial instruments

Basic financial instruments are recognised at amortised costs, 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not

reversed at the statement of financial position 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.

4.	INVESTMENT PROPERTY

Total

£

Fair value

Additions

180,890

At 30th April 2017

180,890

Net book value

At 30th April 2017

180,890

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2017

2016

£

£

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

134,993

-

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Other loan

134,993

-

The loan is secured by a legal mortgage over the investment property owned by the company.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,000,000

Ordinary

£0.0001

100

100

8.	TRANSITION TO FINANCIAL REPORTING STANDARD 102

This is the first year that the company has presented its results in accordance with the provisions of

Section 1A "Small Entities" of Financial Reporting Standard 102. The last financial statements under

the provisions of UK GAAP were for the year ended 30th April 2016. The date of the transition to

Section 1A "Small Entities" of Financial Reporting Standard 102 was 1st May 2015. There has been

no effect on the financial statements arising from the transition from UK GAAP as previously

reported and Section 1A "Small Entities" of Financial Reporting Standard 102.