Longacre (Belvedere) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09797625 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

LONGACRE (BELVEDERE) LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

M J Tyrrell

REGISTERED OFFICE:

6 Market Place

Marshfield

Chippenham

Wiltshire

SN14 8NP

REGISTERED NUMBER:

09797625 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the director 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 Director 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

Longacre (Belvedere) Limited for the year ended 30 September 2019 which comprise the Income Statement, Balance Sheet, Statement of

Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Longacre (Belvedere) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Longacre (Belvedere) Limited and state those matters that we have agreed to state to the director of Longacre (Belvedere) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Longacre (Belvedere) Limited and its director for our work or for this report.

It is your duty to ensure that Longacre (Belvedere) 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 loss of Longacre (Belvedere) Limited. You consider that Longacre (Belvedere) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Longacre (Belvedere) 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.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

6 March 2020

FIXED ASSETS

Tangible assets

3

3,861

-

Investment property

4

1,095,000

1,000,000

1,098,861

1,000,000

CURRENT ASSETS

Debtors

5

31,062

14,206

Cash at bank

41,783

58,403

72,845

72,609

CREDITORS

Amounts falling due within one year

6

53,143

68,556

NET CURRENT ASSETS

19,702

4,053

TOTAL ASSETS LESS CURRENT LIABILITIES

1,118,563

1,004,053

CREDITORS

Amounts falling due after more than one year

7

(868,771

)

(798,496

)

PROVISIONS FOR LIABILITIES

9

(9,736

)

(1,063

)

NET ASSETS

240,056

204,494

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

240,054

204,492

SHAREHOLDERS' FUNDS

240,056

204,494

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 6 March 2020 and were signed by:

M J Tyrrell - Director

1.	STATUTORY INFORMATION

Longacre (Belvedere) 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 modified by the revaluation of certain assets.

Turnover

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

other sales taxes. Recognised when services have been rendered.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

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.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like

trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of

impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets carrying amount and

the present value of estimated cash flows discounted at the assets original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying

amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at

the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the

recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

Additions

4,826

At 30 September 2019

4,826

DEPRECIATION

Charge for year

965

At 30 September 2019

965

NET BOOK VALUE

At 30 September 2019

3,861

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2018

1,000,000

Additions

45,000

Revaluations

50,000

At 30 September 2019

1,095,000

NET BOOK VALUE

At 30 September 2019

1,095,000

At 30 September 2018

1,000,000

The investment property valuation is based on a valuation by Carter Jonas.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

10,392

7,570

Other debtors

20,670

6,636

31,062

14,206

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

5,610

516

Taxation and social security

3,207

1,546

Other creditors

44,326

66,494

53,143

68,556

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

525,000

-

Other creditors

343,771

798,496

868,771

798,496

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

-

500,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

525,000

-

The bank loan is secured on the investment property and on a property owned by Longacre Residential Limited, a company also owned

by Bath Estates and Development Limited.

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

9,736

1,063

Deferred

tax

£

Balance at 1 October 2018

1,063

Accelerated capital allowances

10,505

Tax losses carried forward

(1,832

)

Balance at 30 September 2019

9,736

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

Ordinary Share

£1

2

2

11.	RELATED PARTY DISCLOSURES

Included in Other creditors is a loan of £nil (2018: £500,000) from the Director.

Also included in Other creditors is a balance of £343,771 (2018: £298,496) due to the parent company Bath Estates & Development

Limited.

12.	CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

There are no significant judgements or key assumptions made by the director in preparing these financial statements.

13.	PARENT COMPANY

The parent company is Bath Estates & Development Limited, a private company limited by shares, registered in England and Wales.