Lido Property Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09896543 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

Lido Property Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Dougall

Ms E C Lowe

REGISTERED OFFICE:

Wayside

Park Corner

Freshford

Bath

BA2 7UP

REGISTERED NUMBER:

09896543 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Yoden House

30 Yoden Way

Peterlee

Co. Durham

SR8 1AL

FIXED ASSETS

Tangible assets

3

2,527

3,369

Investment property

4

320,000

320,000

322,527

323,369

CURRENT ASSETS

Debtors

5

286,680

255,350

Cash at bank

80,517

9,687

367,197

265,037

CREDITORS

Amounts falling due within one year

6

(233,819

)

(220,397

)

NET CURRENT ASSETS

133,378

44,640

TOTAL ASSETS LESS CURRENT LIABILITIES

455,905

368,009

CREDITORS

Amounts falling due after more than one year

7

(238,012

)

(238,012

)

PROVISIONS FOR LIABILITIES

(589

)

(589

)

NET ASSETS

217,304

129,408

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

217,204

129,308

217,304

129,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 23 December 2021 and were signed on its behalf by:

I Dougall - Director

1.	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.

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.

Plant and machinery etc

-

25% on reducing balance

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

16,082

DEPRECIATION

At 1 April 2020

12,713

Charge for year

842

At 31 March 2021

13,555

NET BOOK VALUE

At 31 March 2021

2,527

At 31 March 2020

3,369

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

and 31 March 2021

320,000

NET BOOK VALUE

At 31 March 2021

320,000

At 31 March 2020

320,000

The directors see no benefit in revaluing the assets.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

286,680

255,350

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

21,730

12,508

Other creditors

212,089

207,889

233,819

220,397

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

238,012

238,012

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Mortgages

238,012

238,012