LSS Investments Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09018752 (England and Wales)

Unaudited Financial Statements for the Year Ended 27 September 2021

for

LSS Investments Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D M Boulton

REGISTERED OFFICE:

BPI Auctioneers

Ripley Drive

Normanton

Wakefield

WF6 1QT

REGISTERED NUMBER:

09018752 (England and Wales)

ACCOUNTANTS:

SMH Haywood & Co Limited

24-26 Mansfield Road

Rotherham

South Yorkshire

S60 2DT

FIXED ASSETS

Investment property

3

5,050,000

5,050,000

CURRENT ASSETS

Debtors

4

112,945

58,988

Cash at bank

15,185

4,796

128,130

63,784

CREDITORS

Amounts falling due within one year

5

794,046

1,411,588

NET CURRENT LIABILITIES

(665,916

)

(1,347,804

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,384,084

3,702,196

CREDITORS

Amounts falling due after more than one year

6

(2,950,000

)

(2,275,000

)

PROVISIONS FOR LIABILITIES

(226,996

)

(229,974

)

NET ASSETS

1,207,088

1,197,222

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

1,023,351

1,023,351

Retained earnings

183,736

173,870

SHAREHOLDERS' FUNDS

1,207,088

1,197,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 September 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 8 June 2022 and were signed by:

Mr D M Boulton - Director

1.	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.

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.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 28 September 2020

and 27 September 2021

5,050,000

NET BOOK VALUE

At 27 September 2021

5,050,000

At 27 September 2020

5,050,000

The directors have valued the investment property at a fair value of £5,050,000 (2020 - £5,050,000) as at 27 September 2021.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

112,945

58,988

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

2,198

2,448

Amounts owed to group undertakings

675,040

1,331,595

Taxation and social security

14,540

25,125

Other creditors

102,268

52,420

794,046

1,411,588

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

2,950,000

2,275,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

2,950,000

2,275,000

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £675,040 (2020 - £1,331,595) to it's parent undertaking, LSS Wakefield Ltd.