135-165 Lordship Road Limited Accounts

135-165 LORDSHIP ROAD LIMITED - Company Information






135-165 Lordship Road Limited
	Company No. 06792883
		Information for Filing with The Registrar
		31 March 2018

The Director presents his report and the accounts for the year ended 31 March 2018.

Principal activities
The principal activity of the company during the year under review was property ownership and management..




Director

The Director who served at any time during the year was as follows:

D. Bineth



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

D. Bineth
Director
14 November 2018

at	31 March 2018

Company No.		06792883	Notes	2018	2017
				£	£
Fixed assets

	Tangible assets		2	75,000	1,347,527


				75,000	1,347,527
Current assets

	Debtors		3	1,901,956	1,353

	Cash at bank and in hand			515,436	2,203
				2,417,392	3,556
Creditors: Amount falling due within one year			4	(7,161)	(384,778)
Net current assets/(liabilities)				2,410,231	(381,222)
Total assets less current liabilities				2,485,231	966,305
Creditors: Amounts falling due after more than one year			5	(191,097)	(986,349)



Net assets/(liabilities)				2,294,134	(20,044)

Capital and reserves
	Called up share capital			16	16



	Profit and loss account		6	2,294,118	(20,060)

Total equity				2,294,134	(20,044)


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 14 November 2018

And signed on its behalf by:

D. Bineth
Director

for the year ended 31 March 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover comprises ground rents receivable from the lessees of 135-165 Lordship Road.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

No depreciation has been provided on the reversionary freehold interest as the director is of the view that its value will not diminish. The director considers that this accounting policy, which is a departure from the requirements of the Companies Act 2006 concerning depreciation of fixed assets, is therefore necessary to provide a true and fair view.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2	Tangible fixed assets
			Land and buildings	Total
			£	£
		Cost or revaluation
		At 1 April 2017	1,347,527	1,347,527
		Additions	378,711	378,711


		Disposals	(1,651,238)	(1,651,238)
		At 31 March 2018	75,000	75,000







		Net book values
		At 31 March 2018	75,000	75,000
		At 31 March 2017	1,347,527	1,347,527

3	Debtors
			2018	2017
			£	£
		Trade debtors	242	198





		Other debtors	1,901,714	1,155

			1,901,956	1,353

4	Creditors:
		amounts falling due within one year
			2018	2017
			£	£




		Trade creditors	-	378,860



		Loans from directors	1,367	1,354
		Other creditors	5,194	4,114
		Accruals and deferred income	600	450
			7,161	384,778

5	Creditors:
		amounts falling due after more than one year
			2018	2017
			£	£

		Bank loans and overdrafts	-	750,000



		Amounts owed to group undertakings	191,097	228,097
		Other creditors	-	8,252

			191,097	986,349

		Liabilities repayable in more than five years after the balance sheet date

		Amount repayable otherwise than by instalments	-	8,252
			-	8,252

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

Related party disclosures

2018

2017

Transactions with related parties

Name of related party

Westmax Limited

Description of relationship between the parties

The company's ultimate controlling party

Description of transaction and general amounts involved

The loan is interest free with no repayment terms. The loan is repayable at the sole discretion of the company.

Amount due from/(to) the related party

(191,097)

(228,097)

Name of related party

147 Lordship Limited

Description of relationship between the parties

A company under common control

Description of transaction and general amounts involved

The loan is interest free with no repayment terms. The loan is repayable at the sole discretion of the company.

Amount due from/(to) the related party

87,581

Name of related party

165 Lordship Limited

Description of relationship between the parties

A company under common control

Description of transaction and general amounts involved

The loan is interest free with no repayment terms. The loan is repayable at the sole discretion of the company.

Amount due from/(to) the related party

1,812,979

Name of related party

D. Bineth

Description of relationship between the parties

Director

Description of transaction and general amounts involved

At the year end the company owed £1,354 (2016: £1,341) to the director

Amount due from/(to) the related party

(1,354)

Provision for doubtful debts due from the related party

Amounts written off in the period in respect of debts from/(to) the related party

Controlling parties

Immediate controlling party

Westmax Limited

Ultimate controlling party

Westmax Limited

Additional information

Its registered number is:

06792883

Its registered office is:

141a Stamford Hill

London

N16 5LG