Lear Developments Holdings Limited - Accounts to registrar (filleted) - small 18.2
Lear Developments Holdings Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
FOR |
LEAR DEVELOPMENTS HOLDINGS LIMITED |
LEAR DEVELOPMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09346568) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 5 |
LEAR DEVELOPMENTS HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
LEAR DEVELOPMENTS HOLDINGS LIMITED |
The following reproduces the text of the report prepared for the director 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 Director 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 Lear Developments Holdings Limited for the year ended 31 December 2018 which comprise the |
Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity 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 director of Lear Developments Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lear Developments Holdings Limited and state those matters that we have agreed to state to the director of Lear Developments Holdings Limited 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 Lear Developments Holdings Limited and its director for our work or for this report. |
It is your duty to ensure that Lear Developments Holdings Limited 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 loss of Lear Developments Holdings Limited. You consider that Lear Developments Holdings Limited 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 Lear Developments Holdings Limited. 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. |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
LEAR DEVELOPMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09346568) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2018 |
31/12/18 | 31/12/17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
LEAR DEVELOPMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09346568) |
STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2018 |
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 |
LEAR DEVELOPMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09346568) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
1. | STATUTORY INFORMATION |
Lear Developments Holdings Limited is a |
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 |
Turnover |
Turnover represents rental income receivable. Turnover is recognised when the company has a right to |
consideration. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment properties are properties which are held either to earn rental income or for capital appreciation or for |
both. Investment properties are recognised initially at cost. |
Subsequent to initial recognition: |
i investment properties whose fair value can be measured reliably without undue cost or effort are held at |
fair value .Any gains or losses arising from changes in the fair value are recognised in profit or loss in the |
period that they arise. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and |
total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 December 2017 |
LEAR DEVELOPMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09346568) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2018 |
Impairments | (200,000 | ) |
At 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 December 2017 |
Fair value at 31 December 2018 is represented by: |
£ |
Valuation in 2015 | 901,045 |
Valuation in 2017 | (100,000 | ) |
Valuation in 2018 | (200,000 | ) |
Cost | 1,198,955 |
1,800,000 |
The investment properties were valued on an open market basis on 31 December 2018 by the director . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/18 | 31/12/17 |
£ | £ |
Amounts owed by connected companies |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/18 | 31/12/17 |
£ | £ |
Social security and other taxes |
Directors' current accounts | 30,394 | 20,779 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/12/18 | 31/12/17 |
£ | £ |
Bank loans | 1,423,564 | 1,421,000 |
LEAR DEVELOPMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09346568) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31/12/18 | 31/12/17 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans | 1,423,564 | 1,421,000 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/12/18 | 31/12/17 |
£ | £ |
Bank loans | 1,423,564 | 1,421,000 |
The bank loan is secured by a fixed charge over the investment property. The loan is repayable in 22 years from |
the year end and subject to interest rate starting from 3.44% and rising to 6.58% per annum. |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date, the company owed £32,674 (2017: £20,779) to the director. |
11. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company was owed £5,087 (2017: £5,153) by Lear Developments Limited, its |
wholly owned subsidiary. The amount due is interest free and repayable on demand. |
At the balance sheet date, the company was owed £167,636 (2017: £204,570) by SANA (Reedham) Limited, its |
wholly owned subsidiary. The amount due is interest free and repayable on demand. |
12. | ULTIMATE CONTROLLING PARTY |
The director is the ultimate controller by virtue of her shareholding in the entity. |