Lunpro Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12149391 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 9 AUGUST 2019 TO 31 DECEMBER 2020

FOR

LUNPRO LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

P Mehta

REGISTERED OFFICE:

C/o JEB Technologies Limited

Hampstead Avenue

Mildenhall

Suffolk

IP28 7AS

REGISTERED NUMBER:

12149391 (England and Wales)

AUDITORS:

DNG Dove Naish LLP, Statutory Auditor

Eagle House

28 Billing Road

Northampton

NN1 5AJ

FIXED ASSETS

Investment property

4

1,891,699

CURRENT ASSETS

Cash at bank

23,269

CREDITORS

Amounts falling due within one year

5

1,586,098

NET CURRENT LIABILITIES

(1,562,829

)

TOTAL ASSETS LESS CURRENT LIABILITIES

328,870

CAPITAL AND RESERVES

Called up share capital

6

1,000

Retained earnings

327,870

SHAREHOLDERS' FUNDS

328,870

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 director and authorised for issue on 7 May 2021 and were signed by:

P Mehta - Director

1.	STATUTORY INFORMATION

Lunpro 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 (£).

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.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover

Rental income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,891,699

At 31 December 2020

1,891,699

NET BOOK VALUE

At 31 December 2020

1,891,699

The property is valued at fair value by the Director of the company. In the opinion of the Director there has been no material change to the valuation since acquisition.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to group undertakings

1,576,000

Taxation and social security

10,098

1,586,098

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1,000

Ordinary

1

1,000

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Clifford (Senior Statutory Auditor)

for and on behalf of DNG Dove Naish LLP, Statutory Auditor

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

The parent undertaking of the smallest and largest group within which the company belongs and for which group accounts are prepared is Lunovi Limited, a company registered in England. A copy of the group accounts can be obtained from the registered office which can be found on the Company Information page.

The ultimate holding company is Lunovi LLC, a company registered in the USA.