Lullington Estates Limited
Lullington Estates Limited
Financial Statements
For The Year Ended
30 November 2020
Lullington Estates Limited
Financial Statements
For The Year Ended
30 November 2020
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Lullington Estates Limited
Balance Sheet
As at
30 November 2020
Balance Sheet
Registered number:
03878215
For the year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 5 |
( |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Revaluation reserve | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 110,878 | 108,973 | |||
Page 1
Lullington Estates Limited
Balance Sheet (continued)
As at
30 November 2020
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their 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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Lullington Estates Limited
Notes to the Financial Statements
For The Year Ended
30 November 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Revenue comprises rental income and is recognised in the period to which it relates.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
1.4.
Investment Properties
All investment properties is shown at most recent valuation. Any aggregate surplus of deficit arising from changes in fair value is recognised in profit or loss.
1.5.
Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2019: NIL)
3.
Tangible Assets
| Investment Properties | Plant & Machinery | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
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| Additions | - |
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| As at
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| Depreciation | |||
| As at
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| Provided during the period | - |
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| As at
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| Net Book Value | |||
| As at
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| As at
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Page 3
Lullington Estates Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 November 2020
4.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
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| Corporation tax |
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| Accruals and deferred income |
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| Directors' loan accounts |
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5.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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7.
Reserves
| Revaluation Reserve | |
|---|---|
| £ | |
| As at
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| As at
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8.
Related Party Transactions
During the year the directors introduced funds to and withdrew funds from the company by way of a directors' loan account. At the year end the company owed the directors £159,075 (2019 : £156,708) and this amount is included in creditors.
9.
Controlling Party
The company is controlled by its directors by virtue of their 100% ownership of the issued share capital in the company.
10.
General Information
Lullington Estates Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
03878215
. The registered office is Unit 6, Heritage Business Centre, Derby Road, Belper, Derbyshire, DE56 1SW.
Page 4