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

REGISTERED NUMBER: 10538277 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

LANDSCAPE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

G E Bailey

Mrs A C Bailey

S J Frankham

Mrs J Minns

D R Minns

O J Morse

REGISTERED OFFICE:

Irene House Five Arches Business Park,

Maidstone Road

Sidcup

Kent

DA14 5AE

REGISTERED NUMBER:

10538277 (England and Wales)

CURRENT ASSETS

Stocks

2,009,272

1,313,164

Debtors

4

100

2,822

Cash at bank

522

428

2,009,894

1,316,414

CREDITORS

Amounts falling due within one year

5

2,042,925

1,346,407

NET CURRENT LIABILITIES

(33,031

)

(29,993

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(33,031

)

(29,993

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(33,131

)

(30,093

)

(33,031

)

(29,993

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 applicable to companies subject to the small companies regime.

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 20 September 2019 and were signed on its behalf by:

S J Frankham - Director

1.	STATUTORY INFORMATION

Landscape 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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

Going Concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources

to continue as a going concern for the foreseeable future. As such, the company continues to adopt the going

concern basis in preparing the annual report and financial statements.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and assumptions

about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates

and underlying assumptions are based on historical experience and other factors that are considered to be

relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or

in the period of the revision and future periods if the revision affects both current and future periods.

Stocks and work in progress

Work in progress, being property development, is valued at the lower of cost and net realisable value. The

company capitalises interest on specific finance raised once development commences and until practical

completion, based on the total actual finance cost incurred on borrowings during the year.

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.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the income statement in other operating

expenses.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

100

2,822

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

1,318,026

663,426

Trade creditors

13,811

16,331

Other creditors

711,088

666,650

2,042,925

1,346,407

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

£

Bank loans

1,318,026

The company's loan facilities are secured by:

- firstly, a fixed and floating charge over the Charged Property.

- secondly, all the right, title and interest of the Company in all fixed plant and machinery forming part of the

charged property.

- thirdly, all book debts, both present and future due or owing to the Company.

- fourthly, all other debts, claims, rights and choses in action both present and future of the Company.

7.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed Mr S J Frankham £520,157 (2017: £484,557). Mr S J Frankham

advanced the company a short-term loan which is repayable on demand with interest accruing at 5% annually,

compounding monthly.

At the balance sheet date, the company owed Mr G E Bailey £188,931 (2017: £180,093). Mr G E Bailey

advanced the company a short-term loan which is repayable on demand with interest accruing at 5% annually,

compounding monthly.

8.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party due to equal shareholding.