Lld Properties Ltd - Accounts to registrar (filleted) - small 17.3

Lld Properties Ltd - Accounts to registrar (filleted) - small 17.3


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REGISTERED NUMBER: SC450738(Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

Lld Properties Ltd

Lld Properties Ltd (Registered number: SC450738)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lld Properties Ltd

COMPANY INFORMATION
For The Year Ended 31 May 2017







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

Lld Properties Ltd (Registered number: SC450738)

BALANCE SHEET
31 May 2017

2017 2016
Notes £    £   
FIXED ASSETS
Investment property 3 558,552 352,775

CURRENT ASSETS
Cash at bank 69,061 27,918

CREDITORS
Amounts falling due within one year 4 (548,169 ) (331,252 )
NET CURRENT LIABILITIES (479,108 ) (303,334 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,444

49,441

CAPITAL AND RESERVES
Called up share capital 100 -
Retained earnings 79,344 49,441
79,444 49,441

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 27 November 2017and were signed on its behalf
by:





Mr D D Kerr- Director


Lld Properties Ltd (Registered number: SC450738)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2017

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 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. 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. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2016 352,775
Additions 205,777
At 31 May 2017 558,552
NET BOOK VALUE
At 31 May 2017 558,552
At 31 May 2016 352,775

Lld Properties Ltd (Registered number: SC450738)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2017

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Tax 7,398 5,010
VAT 1,151 1,522
Directors' current accounts 539,020 324,120
Accrued expenses 600 600
548,169 331,252

5. DIRECTORS LOANS

The following advances from directors subsisted during the years ended 31 May 2017 and 31 May 2016:

2017 2016
£    £   
Mr D D Kerr
Balance outstanding at start of year 162,060 174,080
Amounts advanced 107,450 -
Amounts repaid - (12,020 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 269,510 162,060

Mrs L Kerr
Balance outstanding at start of year 162,060 174,080
Amounts advanced 107,450 -
Amounts repaid - (12,020 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 269,510 162,060