LCR Properties Limited - Accounts to registrar (filleted) - small 18.2

LCR Properties Limited - Accounts to registrar (filleted) - small 18.2

LCR PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 08586935 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018

FOR

LCR PROPERTIES LIMITED
LCR PROPERTIES LIMITED (REGISTERED NUMBER: 08586935)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LCR PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2018







DIRECTOR: Lady C Reid





REGISTERED OFFICE: Sandall House
230 High Street
Herne Bay
Kent
CT6 5AX





REGISTERED NUMBER: 08586935 (England and Wales)





ACCOUNTANTS: H & E Johnson
Chartered Accountants
Sandall House
230 High Street
Herne Bay
Kent
CT6 5AX
Page 1
LCR PROPERTIES LIMITED (REGISTERED NUMBER: 08586935)

STATEMENT OF FINANCIAL POSITION
30 June 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 813 1,084
Investment property 5 3,456,443 3,417,000
3,457,256 3,418,084

CURRENT ASSETS
Debtors 6 53,019 42,894
Cash at bank and in hand 137,157 106,669
190,176 149,563
CREDITORS
Amounts falling due within one year 7 78,472 73,023
NET CURRENT ASSETS 111,704 76,540
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,568,960
3,494,624

CREDITORS
Amounts falling due after more than one
year
8
(2,795,680
)
(2,883,215
)

PROVISIONS FOR LIABILITIES (95,297 ) (86,056 )
NET ASSETS 677,983 525,353

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 9 550,753 501,310
Retained earnings 127,229 24,042
SHAREHOLDERS' FUNDS 677,983 525,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 notes form part of these financial statements

Page 2
LCR PROPERTIES LIMITED (REGISTERED NUMBER: 08586935)

STATEMENT OF FINANCIAL POSITION - continued
30 June 2018


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 director on 10 October 2018 and were signed by:





Lady C Reid - Director


The notes form part of these financial statements

Page 3
LCR PROPERTIES LIMITED (REGISTERED NUMBER: 08586935)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2018

1. STATUTORY INFORMATION

LCR Properties 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable.

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

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
Fixed Asset Investments are initially measured at fair value plus any directly attributable transaction costs.
Subsequent to initial recognition, they are measured at fair value and changes therein, other than impairment
losses and foreign currency differences on debt instruments are recognised in OCI and accumulated in the fair
value reserve. When these assets are derecognised, the gain or loss accumulated in equity is reclassified to
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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

Page 4
LCR PROPERTIES LIMITED (REGISTERED NUMBER: 08586935)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2018

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2017
and 30 June 2018 1,613
DEPRECIATION
At 1 July 2017 529
Charge for year 271
At 30 June 2018 800
NET BOOK VALUE
At 30 June 2018 813
At 30 June 2017 1,084

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2017 3,447,000
Revaluations 49,443
At 30 June 2018 3,496,443
DEPRECIATION
At 1 July 2017 30,000
Charge for year 10,000
At 30 June 2018 40,000
NET BOOK VALUE
At 30 June 2018 3,456,443
At 30 June 2017 3,417,000

Fair value at 30 June 2018 is represented by:

£   
Valuation in 2015 50,000
Valuation in 2017 451,310
Valuation in 2018 49,443
Cost 2,945,690
3,496,443

Page 5
LCR PROPERTIES LIMITED (REGISTERED NUMBER: 08586935)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2018

5. INVESTMENT PROPERTY - continued

If the investment properties had not been revalued they would have been included at the following historical
cost:

2018 2017
£    £   
Cost 2,945,690 2,945,690
Aggregate depreciation (40,000 ) (30,000 )

The investment properties were valued on an open market basis on 30 June 2018 by the Director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 2,849 -
Other debtors 50,170 42,894
53,019 42,894

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 3,843 2,722
Taxation and social security 33,595 29,598
Other creditors 41,034 40,703
78,472 73,023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Other creditors 2,795,680 2,883,215

9. RESERVES
Revaluation
reserve
£   
At 1 July 2017 501,310
Revaluation adjustments 49,443

At 30 June 2018 550,753

Page 6