Law Property Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11292602 (England and Wales)

LAW PROPERTY DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 5 APRIL 2018 TO 30 APRIL 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

5

DIRECTORS:

D P Hateley

Mrs E L Catton

REGISTERED OFFICE:

Wolverhampton Business Park

Brabourne Avenue

Wolverhampton

West Midlands

WV10 6AU

REGISTERED NUMBER:

11292602 (England and Wales)

ACCOUNTANTS:

Keystone Business Advisers Limited

23 Gate Lane

Boldmere

Sutton Coldfield

West Midlands

B73 5TR

FIXED ASSETS

Investment property

3

550,853

CURRENT ASSETS

Debtors

4

199

Cash at bank

8,745

8,944

CREDITORS

Amounts falling due within one year

5

554,352

NET CURRENT LIABILITIES

(545,408

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,445

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

5,345

SHAREHOLDERS' FUNDS

5,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2019 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 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 Board of Directors on 21 November 2019 and were signed on its behalf by:

Mrs E L Catton - Director

1.	STATUTORY INFORMATION

Law Property Developments 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 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. The financial statements have been prepared under the historical cost convention.

As at the year end date the company had net current liabilities totalling £545,408. However, included in

'Creditors - amounts due within one year' is a directors loan account of £550,910. The director has

given his assurance that he will not draw upon this loan unless cashflow permits.

Significant judgements and estimates

Investment Properties

The value of the properties is assessed by either the directors or an independent property valuation

specialist at each reporting date, using publicly available market evidence, comprising primarily of

values of comparable properties in the area and national market statistics. However, it is inherently

difficult to assess the true market value of the properties without actively marketing the properties for

sale.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Turnover represents net invoiced rental income, excluding value added tax.

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.

The company's properties are held for long-term investment and depreciation is not provided in respect

of such properties. At the balance sheet date the investment properties are included at their fair value.

This policy represents a departure from the statutory accounting principles, which require depreciation

to be provided on all fixed assets. The Directors considers that this policy is necessary in order that the

financial statements may give a true and fair view.

Taxation

Taxation for the period 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 period 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.	INVESTMENT PROPERTY

Total

£

COST

Additions

550,853

At 30 April 2019

550,853

NET BOOK VALUE

At 30 April 2019

550,853

The investment properties were bought in June 2018 at their market values. As at the year end date

the directors, having used publicly available market evidence to assess the current market value of

each asset, do not consider that the market value has materially changed.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

199

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

2,192

Other creditors

552,160

554,352

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors 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 Law Property Developments Limited for the period ended 30 April 2019 which

comprise the Income Statement, Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Law Property Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Law Property Developments Limited and state those matters that we have agreed to state to the Board of Directors of Law Property Developments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Law Property Developments 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 profit of Law Property Developments Limited. You consider that Law Property Developments Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Law Property Developments 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.

Keystone Business Advisers Limited

23 Gate Lane

Boldmere

Sutton Coldfield

West Midlands

B73 5TR

21 November 2019