LBS Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07929302 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

LBS PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J M Lee

N Crawford

G Crawford

J A Crawford

REGISTERED OFFICE:

7th Floor

2 St James' Market

London

SW1Y 4AH

REGISTERED NUMBER:

07929302 (England and Wales)

ACCOUNTANTS:

Galloways Accounting

30 New Road

Brighton

East Sussex

BN1 1BN

FIXED ASSETS

Tangible assets

5

91,795

2,662

CURRENT ASSETS

Debtors

6

483,010

282,278

Cash at bank

1,363,815

1,042,482

1,846,825

1,324,760

CREDITORS

Amounts falling due within one year

7

479,616

405,021

NET CURRENT ASSETS

1,367,209

919,739

TOTAL ASSETS LESS CURRENT LIABILITIES

1,459,004

922,401

PROVISIONS FOR LIABILITIES

2,354

-

NET ASSETS

1,456,650

922,401

CAPITAL AND RESERVES

Called up share capital

2,001

2,000

Share premium

53,860

-

Retained earnings

1,400,789

920,401

SHAREHOLDERS' FUNDS

1,456,650

922,401

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 18 June 2020 and were signed on its behalf by:

N Crawford - Director

1.	STATUTORY INFORMATION

LBS Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Each unit has been rounded to the nearest whole (1) pound.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

over the term of the lease

Office furniture

-

20% on cost

Office equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2019

3,441

Additions

95,679

Disposals

(750

)

At 31 December 2019

98,370

DEPRECIATION

At 1 January 2019

779

Charge for year

6,171

Eliminated on disposal

(375

)

At 31 December 2019

6,575

NET BOOK VALUE

At 31 December 2019

91,795

At 31 December 2018

2,662

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

222,947

175,064

Other debtors

260,063

107,214

483,010

282,278

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

35,339

3,336

Taxation and social security

219,214

207,924

Other creditors

225,063

193,761

479,616

405,021