Lousada (London) Limited - Accounts to registrar (filleted) - small 18.2

LOUSADA (LONDON) LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH SEPTEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S C Lousada

T R Lousada

SECRETARY:

S A Hunt

REGISTERED OFFICE:

The Estate Office

Oakley House

Oakley

Bedfordshire

MK43 7ST

REGISTERED NUMBER:

05523960 (England and Wales)

SENIOR STATUTORY AUDITOR:

A Di Lorenzo FCA

AUDITORS:

HW East Midlands Audit LLP

Statutory Auditors

Woburn Court, 2 Railton Rd

Woburn Road Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Investments

4

100,100

-

CURRENT ASSETS

Debtors

5

889,017

100

CREDITORS

Amounts falling due within one year

6

1,018,209

-

NET CURRENT (LIABILITIES)/ASSETS

(129,192

)

100

TOTAL ASSETS LESS CURRENT LIABILITIES

(29,092

)

100

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(29,192

)

-

SHAREHOLDERS' FUNDS

(29,092

)

100

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th April 2022 and were signed on its behalf by:

S C Lousada - Director

1.	STATUTORY INFORMATION

Lousada (London) 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to al periods presented unless otherwise stated.

Significant judgements and estimates

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Going concern

The financial statements have been prepared on a going concern basis, as a result of the going support provided by Lousada PLC.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - NIL ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

100,100

At 30th September 2021

100,100

NET BOOK VALUE

At 30th September 2021

100,100

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/21

30/9/20

£

£

Amounts owed by group undertakings

804,000

100

VAT

10,017

-

Prepayments and accrued income

75,000

-

889,017

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/21

30/9/20

£

£

Amounts owed to group undertakings

1,009,516

-

Other creditors

6,143

-

Accruals and deferred income

2,550

-

1,018,209

-

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/9/21

30/9/20

value:

£

£

100

Ordinary

£1

100

100

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

A Di Lorenzo FCA (Senior Statutory Auditor)

for and on behalf of HW East Midlands Audit LLP

9.	RELATED PARTY DISCLOSURES

During the year, a payment was made by the Company for an investment in Fired Earth Holdings Limited amounting to £100,000. This was the value at the balance sheet date.

Also at the balance sheet date the Company owed Lousada PLC £1,009,516 (2020 - Nil) in the form of an intercompany loan.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Lousada PLC.

At the balance sheet date the ultimate controlling party was Mr S C Lousada by virtue of his majority shareholding in Lousada Holdings Limited.