Leicester Wellington 2 Limited Filleted accounts for Companies House (small and micro)

LEICESTER WELLINGTON 2 LIMITED - Company Information

0 false false false false false false false false false true false false false false false false false No description of principal activity 2018-10-01 Sage Accounts Production Advanced 2020 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 04446035 2018-10-01 2019-09-30 04446035 2019-09-30 04446035 2018-09-30 04446035 bus:Director1 2018-10-01 2019-09-30 04446035 core:WithinOneYear 2019-09-30 04446035 core:AfterOneYear 2019-09-30 04446035 core:ShareCapital 2019-09-30 04446035 core:ShareCapital 2018-09-30 04446035 bus:SmallEntities 2018-10-01 2019-09-30 04446035 bus:Audited 2018-10-01 2019-09-30 04446035 bus:FullAccounts 2018-10-01 2019-09-30 04446035 bus:SmallCompaniesRegimeForAccounts 2018-10-01 2019-09-30 04446035 bus:PrivateLimitedCompanyLtd 2018-10-01 2019-09-30

COMPANY REGISTRATION NUMBER: 04446035

Leicester Wellington 2 Limited

Filleted Financial Statements

30 September 2019

Leicester Wellington 2 Limited

Statement of Financial Position

30 September 2019

	2019	2018
Note	£	£

Current assets

Debtors	4	2,128,198	1
Cash at bank and in hand		25,000	–
		------------	----
		2,153,198	1

Creditors: amounts falling due within one year	5	123,197	–
		------------	----
Net current assets		2,030,001	1
		------------	----
Total assets less current liabilities		2,030,001	1

Creditors: amounts falling due after more than one year	6	2,030,000	–
		------------	----
Net assets		1	1
		------------	----

Capital and reserves

Called up share capital	1	1
	----	----
Shareholders funds	1	1
	----	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 5 August 2020 , and are signed on behalf of the board by:

Mrs D Feldman

Director

Company registration number: 04446035

Leicester Wellington 2 Limited

Notes to the Financial Statements

Year ended 30 September 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 ODH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Leasehold property

Although this company is the joint legal owner of the leasehold interest in the property 60 Wellington Street, Leicester, LE1 6DS, the beneficial ownership of this leasehold interest, together with the freehold interest, is incorporated as an asset in the financial accounts of the holding company, Leicester Wellington Limited.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Debtors

	2019	2018
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,128,198	1
	------------	----

5. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	110,000	–
Amounts owed to group undertakings and undertakings in which the company has a participating interest	283	–
Other creditors	12,914	–
	---------	----
	123,197	–
	---------	----

6. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Bank loans and overdrafts	2,030,000	–
	------------	----

The above creditor forms part of a total bank loan of £2,140,000 and is totally repayable within 5 years. The bank loan is secured on the freehold property at 60 Wellington Street, Leicester, LE1 6DS, as shown in the accounts of the intermediate holding company, Leicester Wellington Limited.

7. Ultimate holding company

The ultimate holding company is Postcroft Limited, a company registered in the United Kingdom.

8. Summary audit opinion

The auditor's report for the year dated 5 August 2020 was unqualified.

The senior statutory auditor was Dr P.P.Smulovitch , for and on behalf of GK & Co. LLP .