ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

LVLT LTD - Company Information

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Caseware UK (AP4) 2018.0.196 2018.0.196 2019-03-312019-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseproperty constructionfalse2018-04-01 09044697 2018-04-01 2019-03-31 09044697 2017-04-01 2018-03-31 09044697 2019-03-31 09044697 2018-03-31 09044697 c:Director1 2018-04-01 2019-03-31 09044697 d:CurrentFinancialInstruments 2019-03-31 09044697 d:CurrentFinancialInstruments 2018-03-31 09044697 d:CurrentFinancialInstruments d:WithinOneYear 2019-03-31 09044697 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 09044697 d:ShareCapital 2019-03-31 09044697 d:ShareCapital 2018-03-31 09044697 d:RetainedEarningsAccumulatedLosses 2019-03-31 09044697 d:RetainedEarningsAccumulatedLosses 2018-03-31 09044697 c:OrdinaryShareClass1 2018-04-01 2019-03-31 09044697 c:OrdinaryShareClass1 2019-03-31 09044697 c:OrdinaryShareClass1 2018-03-31 09044697 c:FRS102 2018-04-01 2019-03-31 09044697 c:AuditExempt-NoAccountantsReport 2018-04-01 2019-03-31 09044697 c:FullAccounts 2018-04-01 2019-03-31 09044697 c:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 09044697 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2018-04-01 2019-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09044697












LVLT LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
 
LVLT LTD
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 3

 
LVLT LTD
REGISTERED NUMBER:09044697

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2019

2019
2018
Note
£
£

  

Current assets
  

Stocks
 4 
387,346
-

Debtors: amounts falling due within one year
 5 
13,791
-

Cash at bank and in hand
  
100
100

  
401,237
100

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(403,786)
-

  

Net (liabilities)/assets
  
(2,549)
100


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(2,649)
-

  
(2,549)
100


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 November 2019.




L Khalastchi
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1
 
LVLT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019

1.


General information

LVLT Ltd is a limited liability company incorporated in England and Wales with its registered office and business address at Whiteladies Park, Prince Albert Drive, Ascot, SL5 8AQ
The principal activity of the company is that of property development. The company commencing trading on 2 May 2018.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost for this purpose comprises the purchase of land and construction costs.
In considering the net realisable value of land and properties it is assumed that developments will be completed and sold in the ordinary course of the company's business and that they would not be placed on the market for immediate sale.

 
2.3

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

 
2.5

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).


4.


Stocks

2019
2018
£
£

Work in progress
387,346
-


Page 2
 
LVLT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019

5.


Debtors

2019
2018
£
£


Other debtors
13,791
-



6.


Creditors: Amounts falling due within one year

2019
2018
£
£

Trade creditors
48,895
-

Amounts owed to group undertakings
352,791
-

Accruals and deferred income
2,100
-

403,786
-



7.


Share capital

2019
2018
£
£
Allotted, called up and fully paid



100 (2018 - 100) Ordinary shares of £1.00 each
100
100


8.


Controlling party

With effect from 3 May 2018 the company became a wholly-owned subsidiary of Power Investments Holdings Ltd, a company registered in England and Wales, which the directors regard as the ultimate parent undertaking.

 
Page 3