London Real Estate Partners Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09338548 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

London Real Estate Partners Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

K Khagram

REGISTERED OFFICE:

Unitec House

2 Albert Place

London

N3 1QB

REGISTERED NUMBER:

09338548 (England and Wales)

ACCOUNTANTS:

Kingsley Maybrook Limited

Unitec House

2 Albert Place

London

N3 1QB

FIXED ASSETS

Tangible assets

4

-

3,024,382

Investment property

5

3,324,382

-

3,324,382

3,024,382

CURRENT ASSETS

Debtors

6

111,326

51,244

Cash at bank

63,305

48,788

174,631

100,032

CREDITORS

Amounts falling due within one year

7

1,390,894

1,389,877

NET CURRENT LIABILITIES

(1,216,263

)

(1,289,845

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,108,119

1,734,537

CREDITORS

Amounts falling due after more than one year

8

1,953,585

1,953,585

NET ASSETS/(LIABILITIES)

154,534

(219,048

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

154,434

(219,148

)

SHAREHOLDERS' FUNDS

154,534

(219,048

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 23 August 2021 and were signed by:

K Khagram - Director

1.	STATUTORY INFORMATION

London Real Estate Partners 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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2020

3,024,382

Reclassification/transfer

(3,024,382

)

At 31 December 2020

-

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

3,024,382

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Revaluations

300,000

Reclassification/transfer

3,024,382

At 31 December 2020

3,324,382

NET BOOK VALUE

At 31 December 2020

3,324,382

The previously capitalised cost of the property was £2,700,000 plus purchase costs. The new valuation has increased the value of the property itself by £300,000.

3 Audley Court was valued on an fair value basis at £3,000,000 on 11 May 2021 by Anderson Wilde & Harris Chartered Surveyors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

78,000

-

Other debtors

33,326

51,244

111,326

51,244

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

6,398

1

Other creditors

1,384,496

1,389,876

1,390,894

1,389,877

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

1,953,585

1,953,585

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2020 set out on pages two to three and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Kingsley Maybrook Limited

Unitec House

2 Albert Place

London

N3 1QB

23 August 2021