L.R.C. (4X4) HOLDINGS LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06951819 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

L.R.C. (4X4) HOLDINGS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Investments

4

549

549

Investment property

5

933,000

500,000

933,549

500,549

CURRENT ASSETS

Cash at bank and in hand

52,758

50

CREDITORS

Amounts falling due within one year

6

(23,102

)

(24,733

)

NET CURRENT ASSETS/(LIABILITIES)

29,656

(24,683

)

TOTAL ASSETS LESS CURRENT LIABILITIES

963,205

475,866

CREDITORS

Amounts falling due after more than one year

7

(355,338

)

(119,956

)

PROVISIONS FOR LIABILITIES

(13,972

)

-

NET ASSETS

593,895

355,910

CAPITAL AND RESERVES

Called up share capital

610

610

Fair value reserve

301,655

110,000

Retained earnings

291,630

245,300

593,895

355,910

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 20 October 2019 and were signed by:

M Gibbins - Director

1.	STATUTORY INFORMATION

L.R.C. (4X4) HOLDINGS LIMITED is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address are as below:

Registered number:

06951819

Registered office:

C/o DPC Accountants

Stone House, 55 Stone Road Business Park

Stone Road

Stoke on Trent

Staffordshire

ST4 6SR

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statement 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 on the historical cost basis, as modified by the revaluation of certain financial assets

and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Preparation of consolidated financial statements

The financial statements contain information about L.R.C. (4X4) HOLDINGS LIMITED as an individual

company and do not contain consolidated financial information as the parent of a group. The company

is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare

consolidated financial statements.

Significant judgements and estimates

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

assumptions that affect the amounts reported. These estimates and judgements are continually

reviewed and are based on experience and other factors, including expectations of future events that

are believed to be reasonable under the circumstances.

(i) Estimated useful lives and residual values of fixed assets

Depreciation of tangible fixed assets has been based on estimated useful lives and residual values

deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually

and revised as appropriate. Revisions take into account estimated useful lives used by other

companies operating in the sector and actual asset lives and residual values, as evidenced by

disposals during the current and prior accounting periods

(ii) Valuation of investment properties

The investment property is stated in the balance sheet at fair value, based on the valuation performed

by the directors. The directors are of the opinion that the year-end valuation is not materially different

to the latest one produced by qualified valuers. The investment property has been recognised at fair

value by the directors.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is included at fair value and is revalued by the directors to its fair value at each

reporting date. Any changes in fair value are recognised in other comprehensive income/profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

549

NET BOOK VALUE

At 31 March 2019

549

At 31 March 2018

549

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

500,000

Additions

227,373

Revaluations

205,627

At 31 March 2019

933,000

NET BOOK VALUE

At 31 March 2019

933,000

At 31 March 2018

500,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

6,110

-

Taxation and social security

10,947

18,688

Other creditors

6,045

6,045

23,102

24,733

The bank loan is secured by a fixed and floating charge covering all property and assets of the

company.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans

142,362

-

Other creditors

212,976

119,956

355,338

119,956

Amounts falling due in more than five years:

Repayable by instalments

Bank loans payable more than

5 years by instalments

117,921

-

117,921

-

The bank loan is secured by a fixed and floating charge covering all property and assets of the

company.

8.	RELATED PARTY DISCLOSURES

ll transactions undertaken with the directors are deemed to be conducted under normal market

conditions and/or are not material.

The company has taken advantage of the exemption from the disclosures required by paragraph

33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies.