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Registered number: 10878816
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SJ LANSDOWNE LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2019
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SJ LANSDOWNE LTD
REGISTERED NUMBER:10878816
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2019
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Page 1
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SJ LANSDOWNE LTD
REGISTERED NUMBER:10878816
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2019
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 income and retained earnings 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 by:
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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SJ LANSDOWNE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
SJ Lansdowne Ltd is a private company limited by shares incorporated in England and Wales, registered number 10878816. The registered office is The Beeches, 64 Dukes Ride, Crowthorne, Berkshire, RG45 6DL.
2.Accounting policies
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Basis of preparation of financial statements
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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:
Interest income is recognised in the Statement of income and retained earnings using the effective interest method.
Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.
Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each Statement of financial position date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Page 3
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SJ LANSDOWNE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
2.Accounting policies (continued)
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.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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The average monthly number of employees, including directors, during the year was 2 (2018: 2).
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Page 4
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SJ LANSDOWNE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
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Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Accruals and deferred income
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Analysis of the maturity of loans is given below:
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Amounts falling due after more than 5 years
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ALLOTTED, CALLED UP AND FULLY PAID
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520 (2018: 1,000) Ordinary shares of £1.00 each
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480 (2018: Nil) Ordinary A shares of £1.00 each
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6,500,000 (2018: Nil) Redeemable Preference shares of £1.00 each
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On 16 May 2018, 480 of the issued ordinary shares of £1 each were re-designated as A shares of £1 each.
On 18 May 2018, the company issued 6,500,000 redeemable preference shares of £1 each at par.
Page 5
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SJ LANSDOWNE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
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Related party transactions
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During the year the directors maintained loan accounts with the company. At the year end the company owed the directors £4,233 (2018: £12,999,000). Interest of 1.7% is accrued on the loans and there are no set repayment terms.
During the year the directors loaned £6,500,000 to the company. Interest of 1.7% is accrued on the loan which is repayable on 17 May 2028.
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Page 6
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