L.B.J. (Investments) Limited

L.B.J. (Investments) Limited

L.B.J. (INVESTMENTS) LIMITED - Company Information

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Company Registration No. 03076178 (England and Wales)
L.B.J. (Investments) Limited Unaudited accounts for the year ended 30 June 2022
L.B.J. (Investments) Limited Unaudited accounts Contents
Page
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L.B.J. (Investments) Limited Company Information for the year ended 30 June 2022
Director
Mr G. Lucas
Company Number
03076178 (England and Wales)
Registered Office
103 High Street Waltham Cross Herts. EN8 7AN
Accountants
Brindley Goldstein Ltd 103 High Street Waltham Cross Herts. EN8 7AN
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of L.B.J. (Investments) Limited for the year ended 30 June 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of L.B.J. (Investments) Limited for the year ended 30 June 2022 as set out on pages 5 - 8 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 at icaew.com/membershandbook.
This report is made solely to the Board of Directors of L.B.J. (Investments) Limited, as a body, in accordance with the terms of our engagement letter dated 3 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of L.B.J. (Investments) Limited and state those matters that we have agreed to state to the Board of Directors of L.B.J. (Investments) Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L.B.J. (Investments) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that L.B.J. (Investments) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of L.B.J. (Investments) Limited. You consider that L.B.J. (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 accounts of L.B.J. (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 accounts.
Brindley Goldstein Ltd Chartered Accountants 103 High Street Waltham Cross Herts. EN8 7AN 21 November 2022
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L.B.J. (Investments) Limited Statement of financial position as at 30 June 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
1,577,885 
1,577,885 
Investment property
5
457,782 
471,559 
Investments
6
1 
1 
2,035,668 
2,049,445 
Current assets
Debtors
7
1,311,228 
1,271,228 
Cash at bank and in hand
847,072 
770,818 
2,158,300 
2,042,046 
Creditors: amounts falling due within one year
8
(508,497)
(510,261)
Net current assets
1,649,803 
1,531,785 
Total assets less current liabilities
3,685,471 
3,581,230 
Creditors: amounts falling due after more than one year
9
(673,797)
(657,382)
Net assets
3,011,674 
2,923,848 
Capital and reserves
Called up share capital
10
12 
12 
Revaluation reserve
806,872 
806,872 
Profit and loss account
2,204,790 
2,116,964 
Shareholders' funds
3,011,674 
2,923,848 
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 November 2022 and were signed on its behalf by
Mr G. Lucas Director Company Registration No. 03076178
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L.B.J. (Investments) Limited Notes to the Accounts for the year ended 30 June 2022
1
Statutory information
L.B.J. (Investments) Limited is a private company, limited by shares, registered in England and Wales, registration number 03076178. The registered office is 103 High Street, Waltham Cross, Herts. , EN8 7AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents rent receivable.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be immaterial. The directors undertake an annual impairment review of these properties.
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L.B.J. (Investments) Limited Notes to the Accounts for the year ended 30 June 2022
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 July 2021
1,577,885 
At 30 June 2022
1,577,885 
Depreciation
At 30 June 2022
- 
Net book value
At 30 June 2022
1,577,885 
At 30 June 2021
1,577,885 
5
Investment property
2022 
£ 
Fair value at 1 July 2021
471,559 
Disposals
(13,777)
At 30 June 2022
457,782 
6
Investments
Other investments 
£ 
Valuation at 1 July 2021
1 
Valuation at 30 June 2022
1 
7
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Other debtors
1,311,228 
1,271,228 
8
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
5,857 
27,500 
Trade creditors
2,010 
- 
Taxes and social security
20,601 
4,453 
Loans from directors
477,989 
476,298 
Accruals
2,040 
2,010 
508,497 
510,261 
9
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
673,797 
657,382 
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L.B.J. (Investments) Limited Notes to the Accounts for the year ended 30 June 2022
10
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
12 Ordinary shares of £1 each
12 
12 
11
Transactions with related parties
The company was under the control of Mr G. Lucas during the current year. Mr G. Lucas' wife, Mrs M. Lucas is personally interested in 75% of the company's share capital. Included in the other debtors figure is a loan with Capedeal Limited of £1,269,837 (2021: £1,229,837). This loan is unsecured, interest free and has no fixed terms of repayment.
12
Average number of employees
During the year the average number of employees was 0 (2021: 0).
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