LAZFA Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08509147 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2019

for

LAZFA Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Mohammed Afzal

REGISTERED OFFICE:

2nd Floor

Grove House

55 Lowlands Road

Harrow

Middlesex

HA1 3AW

REGISTERED NUMBER:

08509147 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,615

2,154

Investment property

5

3,099,501

1,355,852

3,101,116

1,358,006

CURRENT ASSETS

Cash at bank

114,238

269,327

CREDITORS

Amounts falling due within one year

6

812,391

703,789

NET CURRENT LIABILITIES

(698,153

)

(434,462

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,402,963

923,544

CREDITORS

Amounts falling due after more than one year

7

799,697

798,209

NET ASSETS

1,603,266

125,335

CAPITAL AND RESERVES

Called up share capital

8

102

100

Share premium

1,450,300

-

Retained earnings

152,864

125,235

SHAREHOLDERS' FUNDS

1,603,266

125,335

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 19 January 2020 and were signed by:

Mr Mohammed Afzal - Director

1.	STATUTORY INFORMATION

LAZFA 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.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Investment property

The Company carries its investment properties at fair value, with changes in fair values being recognised in the

income statement.In addition, it measures land and buildings at revalued amounts with changes in fair value

being recognised in other comprehensive income.

Investment property shall be measured at fair value at each reporting date with changes in fair value recognised

in profit or loss. If a property interest held under a lease is classified as investment property, the item accounted

for at fair value is that interest and not the underlying property.

Investment properties are derecognised when either they have been disposed of or when the investment property

is permanently withdrawn from use and no future economic benefit is expected from its disposal. Any gains or

losses on the retirement or disposal of investment property, is recognised in the income statement in the period of

derecognition. Transfers are made to or from investment property only when there is a change in use

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 May 2018

and 30 April 2019

3,675

DEPRECIATION

At 1 May 2018

1,521

Charge for year

539

At 30 April 2019

2,060

NET BOOK VALUE

At 30 April 2019

1,615

At 30 April 2018

2,154

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2018

1,355,852

Additions

1,743,649

At 30 April 2019

3,099,501

NET BOOK VALUE

At 30 April 2019

3,099,501

At 30 April 2018

1,355,852

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

10,379

20,399

Other creditors

802,012

683,390

812,391

703,789

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

799,697

798,209

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

102

Ordinary

1

102

100

2 Ordinary shares of 1 each were allotted as fully paid at a premium of 725150 per share during the year.

9.	RELATED PARTY DISCLOSURES

The Director's Current Account balance of £765,879 (2018: £678,461) relates to director Mr Mohammed Afzal.

10.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is Mr Mohammed Afzal and Mrs Naheed Faiz-Afzal by virtue of their

shareholdings.