Lassot Property Company Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 01952633 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Lassot Property Company Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P S Connaghan

REGISTERED OFFICE:

Foresters Hall

25-27 Westow Street

London

SE19 3RY

REGISTERED NUMBER:

01952633 (England and Wales)

ACCOUNTANTS:

Gibsons Financial Limited

Chartered Accountants

Foresters Hall

25/27 Westow Street

Upper Norwood

London

SE19 3RY

FIXED ASSETS

Investment property

4

425,000

11,400

CURRENT ASSETS

Debtors

16,941

7,439

Cash at bank

2,151

107,047

19,092

114,486

CREDITORS

Amounts falling due within one year

(21,468

)

(42,423

)

NET CURRENT (LIABILITIES)/ASSETS

(2,376

)

72,063

TOTAL ASSETS LESS CURRENT LIABILITIES

422,624

83,463

PROVISIONS FOR LIABILITIES

(74,709

)

-

NET ASSETS

347,915

83,463

CAPITAL AND RESERVES

Called up share capital

2

2

Non distributable reserves

5

338,891

-

Retained earnings

9,022

83,461

SHAREHOLDERS' FUNDS

347,915

83,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 December 2022 and were signed by:

P S Connaghan - Director

1.	STATUTORY INFORMATION

Lassot Property Company 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.

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 1 (2021 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

11,400

Revaluations

413,600

At 31 March 2022

425,000

NET BOOK VALUE

At 31 March 2022

425,000

At 31 March 2021

11,400

Fair value at 31 March 2022 is represented by:

£

Valuation in 2022

413,600

Cost

11,400

425,000

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

31/3/22

31/3/21

£

£

Cost

11,400

-

Investment property was valued on an open market basis on 31 March 2022 by the director .

5.

RESERVES

Non

distributable

reserves

£

Revaluation

413,600

Deferred taxation

(74,709

)

At 31 March 2022

338,891

6.	POST BALANCE SHEET EVENTS

The director has considered the possible effect on the company of the impact of the worldwide pandemic (COVID-19). Taking into account a period exceeding twelve months from the date of approval of these financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and for this reason will continue to adopt the going concern basis in the preparation of its financial statements.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P S Connaghan.