Lookback Limited - Accounts to registrar (filleted) - small 18.2

Lookback Limited - Accounts to registrar (filleted) - small 18.2

LOOKBACK LIMITED - Company Information

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REGISTERED NUMBER: 12121908 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2021

FOR

LOOKBACK LIMITED
LOOKBACK LIMITED (REGISTERED NUMBER: 12121908)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31ST JULY 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LOOKBACK LIMITED

COMPANY INFORMATION
for the Year Ended 31ST JULY 2021







DIRECTOR: M D E Bayntun





REGISTERED OFFICE: 52 Cedar Drive
Hatchend
Pinner
HA5 4DE





REGISTERED NUMBER: 12121908 (England and Wales)





ACCOUNTANTS: Underwood Barron LLP
Monks Brook House
13 - 17 Hursley Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2FW
Page 1
LOOKBACK LIMITED (REGISTERED NUMBER: 12121908)

BALANCE SHEET
31ST JULY 2021

31.7.21 31.7.20
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,540,000 1,827,897

CURRENT ASSETS
Debtors 5 276,769 243,900
Cash at bank 5,768 80,513
282,537 324,413
CREDITORS
Amounts falling due within one year 6 121,760 1,112,279
NET CURRENT ASSETS/(LIABILITIES) 160,777 (787,866 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,700,777
1,040,031

CREDITORS
Amounts falling due after more than one
year
7
2,387,230
1,024,011
NET ASSETS 313,547 16,020

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 218,621 -
Retained earnings 94,826 15,920
313,547 16,020

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2021 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.

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 14th April 2022 and were signed by:





M D E Bayntun - Director


The notes form part of these financial statements

Page 2
LOOKBACK LIMITED (REGISTERED NUMBER: 12121908)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31ST JULY 2021

1. STATUTORY INFORMATION

Lookback 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 as modified by the revaluation of certain assets.

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

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st August 2020 1,827,897
Additions 442,201
Revaluations 269,902
At 31st July 2021 2,540,000
NET BOOK VALUE
At 31st July 2021 2,540,000
At 31st July 2020 1,827,897

Page 3 continued...
LOOKBACK LIMITED (REGISTERED NUMBER: 12121908)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST JULY 2021

4. INVESTMENT PROPERTY - continued

Fair value at 31st July 2021 is represented by:
£   
Valuation in 2021 269,902
Cost 2,270,098
2,540,000

If the investment properties had not been revalued they would have been included at the following historical cost:

31.7.21 31.7.20
£    £   
Cost 2,270,098 2,270,098
Aggregate depreciation (90,804 ) (45,402 )

The investment properties were valued on an open market basis basis on 31st July 2021 by the director of the company .

5. DEBTORS
31.7.21 31.7.20
£    £   
Amounts falling due within one year:
Trade debtors - 7,694
Amounts owed by associates 1,000 -
Other debtors 3,269 11,206
4,269 18,900

Amounts falling due after more than one year:
Amounts owed by associates 272,500 225,000

Aggregate amounts 276,769 243,900

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.21 31.7.20
£    £   
Bank loans and overdrafts 35,723 -
Trade creditors 1,482 -
Amounts owed to associates 4,279 -
Taxation and social security 2,967 13
Other creditors 77,309 1,112,266
121,760 1,112,279

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.21 31.7.20
£    £   
Bank loans 1,089,405 -
Amounts owed to associates 1,270,031 1,024,011
Other creditors 27,794 -
2,387,230 1,024,011

Page 4 continued...
LOOKBACK LIMITED (REGISTERED NUMBER: 12121908)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31ST JULY 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.7.21 31.7.20
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 757,559 -
Other loans more 5yrs instal 12,971 -
770,530 -

8. RESERVES
Fair
value
reserve
£   
Transfer between reserves 218,621

At 31st July 2021 218,621

9. OTHER FINANCIAL COMMITMENTS

A charge was registered in favour of Cynergy Bank on 25 February 2021. This comprises fixed and floating charges over all the company's property and assets.

Page 5