LFDO Developments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09548186 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH DECEMBER 2022

FOR

LFDO DEVELOPMENTS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

L C Freilich

SECRETARY:

B Grossman

REGISTERED OFFICE:

5 Sentinel Square

Hendon

London

NW4 2EL

REGISTERED NUMBER:

09548186 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Investment property

4

1,219,984

1,219,984

CURRENT ASSETS

Debtors

5

63,274

64,481

Cash at bank and in hand

12,991

6,390

76,265

70,871

CREDITORS

Amounts falling due within one year

6

(353,004

)

(350,873

)

NET CURRENT LIABILITIES

(276,739

)

(280,002

)

TOTAL ASSETS LESS CURRENT LIABILITIES

943,245

939,982

CREDITORS

Amounts falling due after more than one year

7

(957,169

)

(957,169

)

NET LIABILITIES

(13,924

)

(17,187

)

CAPITAL AND RESERVES

Called up share capital

9

4

4

Retained earnings

10

(13,928

)

(17,191

)

SHAREHOLDERS' FUNDS

(13,924

)

(17,187

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th December 2022 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 21st November 2023 and were signed by:

L C Freilich - Director

1.	STATUTORY INFORMATION

LFDO Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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 statement of financial position date.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Interest receivable/ payable

Interest receivable/payable is credited/charged to the profit and loss account on an accruals basis.

Debtors and creditors receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 31st December 2021

and 30th December 2022

1,219,984

NET BOOK VALUE

At 30th December 2022

1,219,984

At 30th December 2021

1,219,984

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

63,199

60,206

Other debtors

75

4,275

63,274

64,481

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

766

-

Other creditors

352,238

350,873

353,004

350,873

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

957,169

957,169

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

957,169

957,169

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Other loan

957,169

957,169

Other loans are secured against the investment property held by the company.

The other loans are secured by a legal charge over the investment property and assets of the company and by a personal guarantee from the director.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

4

Ordinary

£1

4

4

10.

RESERVES

Retained

earnings

£

At 31st December 2021

(17,191

)

Profit for the year

3,263

At 30th December 2022

(13,928

)

11.	CONTINGENT LIABILITIES

The company joined a "VAT Group" during the year and as such is jointly and severally liable for the VAT

liabilities of the whole group.

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30th December 2022 and the period ended 30th December 2021:

2022

2021

£

£

L C Freilich

Balance outstanding at start of year

(2,000

)

(2,000

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,000

)

(2,000

)

13.	RELATED PARTY DISCLOSURES

Dunphys Lettings Limited

A company under common control

This is payable on demand.

2022

2021

£

£

Amount due from related party at the balance sheet date

-

60,206

MP Group Services Ltd

A company under common control

This is payable on demand.

2022

2021

£

£

Amount due to related party at the balance sheet date

347,892

346,527

14.	ULTIMATE PARENT COMPANY

The Moreland Property Group is regarded by the director as being the ultimate parent company.

ULTIMATE CONTROLLING PARTY

The director considers the ultimate controlling party of the company to be the board of the Moreland Property Group Limited.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LFDO Developments Limited for the year ended 30th December 2022 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of LFDO Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LFDO Developments Limited and state those matters that we have agreed to state to the director of LFDO Developments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LFDO Developments Limited and its director for our work or for this report.

It is your duty to ensure that LFDO Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LFDO Developments Limited. You consider that LFDO Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of LFDO Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

21st November 2023