LW Ivy FH Limited - Accounts to registrar (filleted) - small 18.2
LW Ivy FH Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| LW IVY FH LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020 |
| LW IVY FH LIMITED (REGISTERED NUMBER: 11346563) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2020 |
| Page |
| Company Information | 1 |
| Abridged Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| LW IVY FH LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 923 Finchley Road |
| London |
| NW11 7PE |
| LW IVY FH LIMITED (REGISTERED NUMBER: 11346563) |
| ABRIDGED STATEMENT OF FINANCIAL POSITION |
| 31ST DECEMBER 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| LW IVY FH LIMITED (REGISTERED NUMBER: 11346563) |
| ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
| 31ST DECEMBER 2020 |
| 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 |
| LW IVY FH LIMITED (REGISTERED NUMBER: 11346563) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2020 |
| 1. | STATUTORY INFORMATION |
| LW Ivy FH Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. |
| 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. |
| Financial instruments |
| Financial instruments |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
| Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Debtors |
| Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| Creditors |
| Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| 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 statement of financial position date. |
| LW IVY FH LIMITED (REGISTERED NUMBER: 11346563) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Going concern |
| The director note that the financial statement has been prepared on a going concern basis even though the balance sheet was negative at the year end . Assurance has been obtained from the long term creditor that their balance will not be called in at short notice. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st January 2020 |
| and 31st December 2020 |
| NET BOOK VALUE |
| At 31st December 2020 |
| At 31st December 2019 |
| The director is of the opinion that the fair value at year end is not different to the purchase cost. |
| 5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 5,000 | 5,000 |