Lavender Property Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00526205 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2020

for

LAVENDER PROPERTY INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

Directors:

M E Woodruff

Mrs L M Woodruff

Secretary:

Mrs L M Woodruff

Registered office:

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Registered number:

00526205 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Fixed assets

Tangible assets

4

27,622

22,331

Investments

5

200,136

150,136

Investment property

6

2,246,041

1,770,000

2,473,799

1,942,467

Current assets

Stocks

1,913,888

1,903,236

Debtors

7

856,243

2,239,226

Cash at bank and in hand

1,078,835

22,072

3,848,966

4,164,534

Creditors

Amounts falling due within one year

8

201,862

300,373

Net current assets

3,647,104

3,864,161

Total assets less current liabilities

6,120,903

5,806,628

Creditors

Amounts falling due after more than one year

9

(4,850,000

)

(4,380,000

)

Provisions for liabilities

10

(117,735

)

(117,735

)

Net assets

1,153,168

1,308,893

Capital and reserves

Called up share capital

11

250

250

Retained earnings

12

1,152,918

1,308,643

Shareholders' funds

1,153,168

1,308,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2021 and were signed on its behalf by:

M E Woodruff - Director

1.	Statutory information

Lavender Property Investments 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.

Significant judgements and estimates

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried

out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the 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.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Motor vehicles

-

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

3.	Employees and directors

The average number of employees during the year was 2 (2019 - 3 ) .

4.	Tangible fixed assets

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

Cost

At 1 July 2019

63,857

22,095

85,952

Additions

14,469

-

14,469

At 30 June 2020

78,326

22,095

100,421

Depreciation

At 1 July 2019

45,945

17,676

63,621

Charge for year

4,759

4,419

9,178

At 30 June 2020

50,704

22,095

72,799

Net book value

At 30 June 2020

27,622

-

27,622

At 30 June 2019

17,912

4,419

22,331

5.	Fixed asset investments

Other

investments

£

Cost

At 1 July 2019

150,136

Additions

50,000

At 30 June 2020

200,136

Net book value

At 30 June 2020

200,136

At 30 June 2019

150,136

6.	Investment property

Total

£

Fair value

At 1 July 2019

1,770,000

Additions

476,041

At 30 June 2020

2,246,041

Net book value

At 30 June 2020

2,246,041

At 30 June 2019

1,770,000

Fair value at 30 June 2020 is represented by:

£

Valuation in 2017

332,084

Valuation in 2018

240,361

Cost

1,673,596

2,246,041

7.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

10,515

1,107,013

Other debtors

834,066

1,123,156

VAT

10,040

2,790

Prepayments

1,622

6,267

856,243

2,239,226

8.

Creditors: amounts falling due within one year

2020

2019

£

£

Bank loans and overdrafts

80,000

105,393

Hire purchase contracts

-

834

Trade creditors

37,535

17,712

Tax

2,476

22,840

Social security and other taxes

979

1,042

CIS Tax

3,752

3,689

Other creditors

31,115

92,750

Directors' current accounts

8,513

13,566

Accruals and deferred income

37,492

42,547

201,862

300,373

9.

Creditors: amounts falling due after more than one year

2020

2019

£

£

Bank loans more 5 yr by instal

4,850,000

4,380,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

4,850,000

4,380,000

10.	Provisions for liabilities

2020

2019

£

£

Deferred tax

117,735

117,735

Deferred tax

£

Balance at 1 July 2019

117,735

Balance at 30 June 2020

117,735

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

250

Ordinary

£1

250

250

12.

Reserves

Retained

earnings

£

At 1 July 2019

1,308,643

Profit for the year

19,275

Dividends

(175,000

)

At 30 June 2020

1,152,918

13.	Related party disclosures

At the balance sheet date, the company was owed £143,628 from Paddington Real Estates Ltd, a company in which Mr M E Woodruff is a director and a shareholder. The loan is interest free.

The following reproduces the text of the report prepared for the directors 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 Directors 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 Lavender Property Investments Limited for the year ended 30 June 2020 which comprise the Profit and loss account, 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 (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 Board of Directors of Lavender Property Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lavender Property Investments Limited and state those matters that we have agreed to state to the Board of Directors of Lavender Property Investments Limited, as a body, 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 Lavender Property Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lavender Property Investments 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 profit of Lavender Property Investments Limited. You consider that Lavender Property Investments 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 Lavender Property Investments 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.

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

19 January 2021