LONDONDAY LIMITED - Abbreviated accounts

Registered number

01423984

LONDONDAY LIMITED

Unaudited Abbreviated Accounts

31 January 2015

LONDONDAY LIMITED

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of LONDONDAY LIMITED for the year ended 31 January 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of LONDONDAY LIMITED for the year ended 31 January 2015 which comprise of the balance sheet 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of LONDONDAY LIMITED, as a body, in accordance with the terms of our engagement letter dated 4 June 2013. Our work has been undertaken solely to prepare for your approval the accounts of LONDONDAY LIMITED and state those matters that we have agreed to state to the Board of Directors of LONDONDAY LIMITED, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LONDONDAY LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LONDONDAY LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of LONDONDAY LIMITED. You consider that LONDONDAY 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 accounts of LONDONDAY 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 abbreviated accounts.

Bass & Co
Chartered Accountants
123 Riddlesdown Road
Purley
Surrey
CR8 1DL

8 April 2015

LONDONDAY LIMITED
Registered number:		01423984
Abbreviated Balance Sheet
as at 31 January 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		552,000			552,000

Current assets
Debtors	3	1,046,537			1,046,537
Cash at bank and in hand		11,918			6,405
		1,058,455			1,052,942

Creditors: amounts falling due within one year		(9,018)			(9,071)

Net current assets			1,049,437			1,043,871

Net assets			1,601,437			1,595,871

Capital and reserves
Called up share capital	4		100			100
Revaluation reserve			211,394			211,394
Profit and loss account			1,389,943			1,384,377

Shareholders' funds			1,601,437			1,595,871

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



J D Hutchison
Director
Approved by the board on 8 April 2015

LONDONDAY LIMITED
Notes to the Abbreviated Accounts
for the year ended 31 January 2015

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value of rents and services provided to customers.

	Depreciation
	Freehold investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties; this constitutes a departure from the statutory rules requiring fixed assets to be depreciated over their economic useful lives and is necessary to enable the financial statements to give a true and fair view. Depreciation is only one of many factors reflected in the annual revaluation and the amount which might otherwise have been shown cannot be separately identified or quantified.

	Depreciation on other assets has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Computer equipment			3 years



2	Tangible fixed assets					£

	Cost
	At 1 February 2014					556,545
	At 31 January 2015					556,545

	Depreciation
	At 1 February 2014					4,545
	At 31 January 2015					4,545

	Net book value
	At 31 January 2015					552,000
	At 31 January 2014					552,000

	The freehold investment properties were valued at the balance sheet date by the directors on the basis of open market value.

	No provision has been made for deferred taxation on revaluing the freehold investment properties to their market value as the tax on the gains would only become payable if the properties were sold. The tax which would become payable in such circumstances is estimated to be £21,000. These assets are expected to be used in the continuing operations of the business and therefore no tax is expected to be paid in the foreseeable future.

3	Debtors					2015		2014
£							£
	Debtors include:

	Amounts due after more than one year					1,046,537		1,046,537


4	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100


5	Related party transactions
	During the year the company has made a loan to Charterbridge Limited, a company in which Mr and Mrs Hutchison have a material interest. As at 31 January 2015 Charterbridge owed the company £1,046,537 (2014 - £1,046,537).