LWR Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04945228 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2021

for

LWR Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

9

DIRECTORS:

WM Richards

Mrs LM Richards

SECRETARIES:

Mrs LM Richards

WM Richards

REGISTERED OFFICE:

Seymour Barn

Widmere Lane

Marlow

Buckinghamshire

SL7 3DF

REGISTERED NUMBER:

04945228 (England and Wales)

ACCOUNTANTS:

Lee Accounting Services 2018 Limited

Trading as Lee & Co

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

FIXED ASSETS

Tangible assets

4

152

203

Investments

5

1

1

Investment property

6

225,000

-

225,153

204

CURRENT ASSETS

Stocks

214,000

934,274

Debtors

7

5,044

7,172

Cash at bank and in hand

159,112

199,098

378,156

1,140,544

CREDITORS

Amounts falling due within one year

8

557,118

1,114,058

NET CURRENT (LIABILITIES)/ASSETS

(178,962

)

26,486

TOTAL ASSETS LESS CURRENT LIABILITIES

46,191

26,690

CREDITORS

Amounts falling due after more than one year

9

-

(45,000

)

PROVISIONS FOR LIABILITIES

(17,977

)

(39

)

NET ASSETS/(LIABILITIES)

28,214

(18,349

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

28,204

(18,359

)

SHAREHOLDERS' FUNDS

28,214

(18,349

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2022 and were signed on its behalf by:

WM Richards - Director

1.	STATUTORY INFORMATION

LWR Developments 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.

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.

Plant and machinery etc

-

33% on cost, 25% on cost and 25% on reducing balance

Government grants

Government grants are recognised on the accruals basis.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs,. and are measured subsequently at amortised cost using the effective method.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

The directors have indicated they will continue to support the company for the forthcoming year and hence the accounts have been prepared under the going concern concept. If the confirmation of their support was not available, adjustments would have to be made to consider their carrying values, to reclassify fixed assets as currents assets, and long term liabilities as short term liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2020

and 31 October 2021

4,958

DEPRECIATION

At 1 November 2020

4,755

Charge for year

51

At 31 October 2021

4,806

NET BOOK VALUE

At 31 October 2021

152

At 31 October 2020

203

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2020

and 31 October 2021

1

NET BOOK VALUE

At 31 October 2021

1

At 31 October 2020

1

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

153,207

Revaluations

71,793

At 31 October 2021

225,000

NET BOOK VALUE

At 31 October 2021

225,000

Fair value at 31 October 2021 is represented by:

£

Valuation in 2021

71,793

Cost

153,207

225,000

If investment property had not been revalued it would have been included at the following historical cost:

31.10.21

31.10.20

£

£

Cost

153,207

-

Investment property was valued on an open market basis on 31 October 2021 by the directors. .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Trade debtors

-

2,380

Amounts owed by participating interests

4,329

4,792

Other debtors

715

-

5,044

7,172

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Trade creditors

4,626

3,720

Taxation and social security

-

(314

)

Other creditors

552,492

1,110,652

557,118

1,114,058

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans

-

45,000

31.10.21

31.10.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

5,250

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 and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company 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. You consider that the Company 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 the Company. 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.

Lee Accounting Services 2018 Limited

Trading as Lee & Co

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

25 July 2022