LANDMARK PROPERTY VENTURES LTD,Ltd - AccountsLtd - Accounts

LANDMARK PROPERTY VENTURES LTD,Ltd - AccountsLtd - Accounts

LANDMARK PROPERTY VENTURES LTD - Company Information

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2018-01-01 07456358 2018-12-31 07456358 2018-01-01 2018-12-31 07456358 2017-12-31 07456358 2017-01-01 2017-12-31 07456358 uk-core:WithinOneYear 2017-12-31 07456358 uk-core:WithinOneYear 2018-12-31 07456358 uk-core:AfterOneYear 2017-12-31 07456358 uk-core:AfterOneYear 2018-12-31 07456358 uk-core:ShareCapital 2018-12-31 07456358 uk-core:ShareCapital 2017-12-31 07456358 uk-core:RetainedEarningsAccumulatedLosses 2018-12-31 07456358 uk-core:RetainedEarningsAccumulatedLosses 2017-12-31 07456358 uk-bus:Director1 2018-01-01 2018-12-31 07456358 uk-core:Buildings 2018-01-01 2018-12-31 07456358 uk-core:WithinOneYear uk-core:Secured 2018-12-31 07456358 uk-core:WithinOneYear uk-core:Secured 2017-12-31 07456358 uk-core:AfterOneYear uk-core:Secured 2018-12-31 07456358 uk-core:AfterOneYear uk-core:Secured 2017-12-31 iso4217:GBP 07456358 uk-bus:AuditExempt-NoAccountantsReport 2018-01-01 2018-12-31 07456358 uk-bus:FRS102 2018-01-01 2018-12-31 07456358 uk-bus:FullAccounts 2018-01-01 2018-12-31 07456358 uk-bus:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31
LANDMARK PROPERTY VENTURES LTD
Registered Number:07456358
For the year ended 31 December 2018
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2018
LANDMARK PROPERTY VENTURES LTD
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
As at 31 December 2018
LANDMARK PROPERTY VENTURES LTD
Statement of Financial Position
Registered Number :
07456358
£
£
2017
2018
Notes
Fixed assets
2
1,930,000
1,930,000
Investment property
1,930,000
1,930,000
Current assets
Trade and other receivables
1,210,691
1,318,323
3
150,837
Cash and cash equivalents
-
1,318,323
1,361,528
Trade and other payables: amounts falling due within one
year
(2,517,335)
(3,074,861)
4
(1,155,807)
(1,756,538)
Net current liabilities
Total assets less current liabilities
173,462
774,193
Trade and other payables: amounts falling due after more
than one year
(355,000)
-
5
(73,012)
(73,012)
Provisions for liabilities
100,450
Net assets
346,181
Capital and reserves
Called up share capital
100
100
Retained earnings
100,350
346,081
100,450
346,181
Shareholders' funds
For the year ended 31 December 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Dalbir Sandhu Director
These financial statements were approved and authorised for issue by the Board on 23 December 2019 and were signed by:
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4
For the year ended 31 December 2018
LANDMARK PROPERTY VENTURES LTD
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 December 2018
LANDMARK PROPERTY VENTURES LTD
Notes to the Financial Statements
Statutory Information
LANDMARK PROPERTY VENTURES LTD is a private limited company, limited by shares, domiciled in England and
Wales, registration number 07456358.
Registered address:
THE PILLARS
Slade Oak Lane
Gerrards Cross
Buckinghamshire
SL9 0QE
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for sale of residential land and properties. Revenue from the sale of properties is recognised when the properties have been transferred to the customers such that the risks and rewards of ownership of are transferred to them.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
0% Straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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6
For the year ended 31 December 2018
LANDMARK PROPERTY VENTURES LTD
Notes to the Financial Statements Continued
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being
estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is
impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual
asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The
cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows
that largely independent of the cash inflows from other assets or groups of assets.
2. Investment property
Total
£
Fair value
At 01 January 2018
1,930,000
At 31 December 2018
1,930,000
Net book value
At 31 December 2018
1,930,000
At 31 December 2017
1,930,000
Investments properties were revalued on open market basis on 31 December 2018 by the directors and in theiropinion no significant changes in market value.
3. Trade and other receivables
2017
2018
£
£
Amounts owed by group undertakings and participating interests
1,191,666
1,058,713
Other debtors
126,657
151,978
1,210,691
1,318,323
The debtors above include the following amounts falling due after more than one year:
Other debtors
17,358
14,975
4. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Bank loans and overdraft (secured)
2,284,135
246,999
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
378,391
1,645,086
Taxation and social security
29,898
53,411
Other creditors
382,437
571,839
3,074,861
2,517,335
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7
For the year ended 31 December 2018
LANDMARK PROPERTY VENTURES LTD
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due after more than one year
2017
2018
£
£
Bank loans and overdraft
-
355,000
Other creditors
-
-
-
355,000
6. Reserves
Profit and loss reserve contains undistributable profit for £311,263, net of the related deferred tax deriving from the
fair value adjustment of investment properties.
7. Related party transactions
The company has taken advantage of the exemption in FRS 102 section 33 from the requirement to disclose
transactions with 100% owned group companies.
8. Parent-subsidary relationship
The company's immediate and ultimate Parent undertaking is Landmark (Holdings) Limited, registered in Englandand Wales. CRN-08175240
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