London Lofts (Developments) Limited - Accounts to registrar (filleted) - small 18.2

London Lofts (Developments) Limited - Accounts to registrar (filleted) - small 18.2

LONDON LOFTS (DEVELOPMENTS) LIMITED - Company Information

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REGISTERED NUMBER: 04725044 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 OCTOBER 2020

FOR

LONDON LOFTS (DEVELOPMENTS) LIMITED
Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS








LONDON LOFTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 04725044)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2020










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


LONDON LOFTS (DEVELOPMENTS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 OCTOBER 2020







DIRECTOR: Mr C H Hawkins





SECRETARY: Ms J A Wells





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 04725044 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS
Page 1
LONDON LOFTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 04725044)

ABRIDGED BALANCE SHEET
30 OCTOBER 2020

2020 2019
Notes £    £   
CURRENT ASSETS
Debtors 577,471 569,275
Cash at bank 5,663 34
583,134 569,309
CREDITORS
Amounts falling due within one year 44,662 30,074
NET CURRENT ASSETS 538,472 539,235
TOTAL ASSETS LESS CURRENT
LIABILITIES
538,472
539,235

CAPITAL AND RESERVES
Called up share capital 5 400 400
Retained earnings 538,072 538,835
SHAREHOLDERS' FUNDS 538,472 539,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 October 2020 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 26 July 2021 and were signed by:





Mr C H Hawkins - Director


The notes form part of these financial statements

Page 2
LONDON LOFTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 04725044)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2020


1. STATUTORY INFORMATION

London Lofts (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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The accounts have been prepared on a going concern basis which the director believe to be appropriate for the following reasons.

The director is aware of the material uncertainties that cast doubt on the company's ability to continue as a going concern. As with most businesses, these material uncertainties are in relation to the ongoing Covid-19 virus outbreak which has had an impact on the operations, suppliers and service providers. The director has (where appropriate) utilised the grants and benefits available from the government and is taking all the steps he can to protect the future of the business.

The shareholder has provided confirmation that he will not withdraw his support for a period of at least 12 months from signing the financial statements.

The shareholder has also confirmed that he will continue to review the funding requirements of the business in 2021 and provide additional financing as required.

The director has also prepared a cash flow forecast for the period to July 2022 and on this basis believe the company has sufficient facilities to meet its liabilities as they fall due for the foreseeable future, and specifically for a period of not less than 12 months from the date of signing of these financial statements. The director therefore consider the preparation of the financial statements on a going concern basis to be appropriate.

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.

4. EMPLOYEES AND DIRECTORS

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

Page 3 continued...
LONDON LOFTS (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 04725044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 OCTOBER 2020


5. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
400 Ordinary £1 400 400

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 October 2020 and the period ended 30 October 2019:

2020 2019
£    £   
Mr C H Hawkins
Balance outstanding at start of year 35,951 34,735
Amounts advanced 8,451 1,216
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,402 35,951

The director was charged a market rate interest of 3.5% on his overdrawn loan account balance.

7. RELATED PARTY DISCLOSURES

Tiller Ltd
At the balance sheet date, Tiller Ltd, a company in which Mr C H Hawkins is also a director and 50% shareholder, owed £220,165 (2019 - £227,115) to the company and is included under other debtors. This is an unsecured interest-free loan which is repayable on demand.

Property Liaisons (Developments) Ltd
At the balance sheet date, Property Liaisons (Developments) Ltd, a company in which Mr C H Hawkins is also a director, owed £54,000 (2019 - £54,000) to the company and is included under other debtors. This is an unsecured interest-free loan which is repayable on demand.

Tiller Rentals Ltd
At the balance sheet date, Tiller Rentals Ltd, a company in which Mr C H Hawkins is also a director, is owed £11,100 (2019 - £Nil) by the company and is included under other creditors. This is an unsecured interest-free loan which is repayable on demand.

The Lodge Cafe Ltd
At the balance sheet date, The Lodge Cafe Ltd, a company in which Mr C H Hawkins is one of the directors, is owed £8,200 (2019 - £8,200) by the company and is included under other creditors. This is an unsecured interest-free loan which is repayable on demand.

8. CONTROLLING PARTY

The controlling party is Mr C H Hawkins.

He holds 100% of the issued share capital of the company.

Page 4