LINNOW INVESTMENTS LIMITED Filleted accounts for Companies House (small and micro)

LINNOW INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00819056

LINNOW INVESTMENTS LIMITED

Filleted Unaudited Financial Statements

31 March 2020

LINNOW INVESTMENTS LIMITED

Statement of Financial Position

31 March 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	5	244,711	244,711
Investments	6	400	400
		---------	---------
		245,111	245,111

Current assets

Debtors	7	200,000	101,000
Cash at bank and in hand		72,755	55,456
		---------	---------
		272,755	156,456

Creditors: amounts falling due within one year	8	72,874		39,155
		---------		---------
Net current assets			199,881	117,301
			---------	---------
Total assets less current liabilities			444,992	362,412

Provisions

Taxation including deferred tax	24,000	24,000
	---------	---------
Net assets	420,992	338,412
	---------	---------

Capital and reserves

Called up share capital		400	400
Fair value reserve	10	155,077	155,077
Profit and loss account	10	265,515	182,935
		---------	---------
Shareholders funds		420,992	338,412
		---------	---------

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 Section 1A of 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.

For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

LINNOW INVESTMENTS LIMITED

Statement of Financial Position (continued)

31 March 2020

These financial statements were approved by the board of directors and authorised for issue on 20 December 2020 , and are signed on behalf of the board by:

Mr D Fluss

Director

Company registration number: 00819056

LINNOW INVESTMENTS LIMITED

Notes to the Financial Statements

Year ended 31 March 2020

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 0DH.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rents.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without any undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).

5. Tangible assets

	Land and buildings
	£
Valuation
At 1 April 2019 and 31 March 2020	244,711
	---------
Depreciation
At 1 April 2019 and 31 March 2020	–
	---------
Carrying amount
At 31 March 2020	244,711
	---------
At 31 March 2019	244,711
	---------

The investment property has been revalued by the directors on an open market value for existing use basis as at 31 March 2017.

6. Investments

	Listed investment
	£
Cost
At 1 April 2019 and 31 March 2020	400
	----
Impairment
At 1 April 2019 and 31 March 2020	–
	----

Carrying amount
At 31 March 2020	400
	----
At 31 March 2019	400
	----

7. Debtors

	2020	2019
	£	£
Other debtors	200,000	101,000
	---------	---------

Other debtors include amounts due from related undertakings of £200,000 (2019 : £100,000).

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	1,904	–
Corporation tax	19,371	3,174
Social security and other taxes	3,452	–
Unpaid remuneration	11,999	–
Other creditors	36,148	35,981
	--------	--------
	72,874	39,155
	--------	--------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2020	2019
	£	£
Included in provisions	24,000	24,000
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2020	2019
	£	£
Fair value adjustment of financial assets	24,000	24,000
	--------	--------

10. Reserves

Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Profit and loss account - This reserve records retained earnings and accumulated losses.