135-165 Lordship Road Limited - Limited company accounts 11.9

REGISTERED NUMBER: 06792883 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

135-165 LORDSHIP ROAD LIMITED

Page

Company Information

1

Report of the Director

2

Chartered Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

7

DIRECTOR:

D Bineth

REGISTERED OFFICE:

141A Stamford Hill

London

N16 5LG

REGISTERED NUMBER:

06792883 (England and Wales)

ACCOUNTANTS:

Websters

12 Melcombe Place

Marylebone

London

NW1 6JJ

The director presents his report with the financial statements of the company for the year ended 31 March 2015.

PRINCIPAL ACTIVITY

The company purchased the reversionary freehold interest in the site at 135-165 Lordship Road, London N16

5HF on 24 December 2010. The company collects ground rents from lessees and has the responsibility to

control, supervise and manage this site on behalf of the lessees.

DIRECTOR

D Bineth held office during the whole of the period from 1 April 2014 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance

with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the

director has elected to prepare the financial statements in accordance with United Kingdom Generally

Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company

law the director must not approve the financial statements unless he is satisfied that they give a true and fair

view of the state of affairs of the company and of the profit or loss of the company for that period. In

preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain

the company's transactions and disclose with reasonable accuracy at any time the financial position of the

company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is

also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the

prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

D Bineth - Director

31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of 135-165 Lordship Road Limited for the year ended 31 March 2015 which comprise

the Profit and Loss Account, the Balance Sheet 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 at icaew.com/membershandbook.

This report is made solely to the director of 135-165 Lordship Road Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 135-165 Lordship Road Limited and state those matters that we have agreed to state to the director of 135-165 Lordship Road Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that 135-165 Lordship Road 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 loss of 135-165 Lordship Road Limited. You consider that 135-165 Lordship Road 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 135-165 Lordship

Road 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.

Websters

12 Melcombe Place

Marylebone

London

NW1 6JJ

31 December 2015

TURNOVER

108

108

Administrative expenses

1,246

853

OPERATING LOSS

2

(1,138

)

(745

)

Interest receivable and similar income

-

4

(1,138

)

(741

)

Interest payable and similar charges

-

28

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION

(1,138

)

(769

)

Tax on loss on ordinary activities

3

-

-

LOSS FOR THE FINANCIAL YEAR

(1,138

)

(769

)

FIXED ASSETS

Tangible assets

4

94,749

48,119

CURRENT ASSETS

Debtors

5

230

56,217

Cash at bank

20,504

13,597

20,734

69,814

CREDITORS

Amounts falling due within one year

6

5,366

5,191

NET CURRENT ASSETS

15,368

64,623

TOTAL ASSETS LESS CURRENT LIABILITIES

110,117

112,742

CREDITORS

Amounts falling due after more than one year

7

129,349

130,836

NET LIABILITIES

(19,232

)

(18,094

)

CAPITAL AND RESERVES

Called up share capital

8

16

16

Income and expenditure account

9

(19,248

)

(18,110

)

SHAREHOLDERS' FUNDS

(19,232

)

(18,094

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 31 December 2015 and were signed by:

D Bineth - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover comprises ground rents receivable from the lessees of 135-165 Lordship Road.

Depreciation

No depreciation has been provided on the reversionary freehold interest as the director is of the view

that its value will not diminish. The directors consider that this accounting policy, which is a departure

from the requirements of the Companies Act 2006 concerning depreciation of fixed assets, is therefore

necessary to provide a true and fair view.

Service charge funds

The company receives contributions towards property outgoings from the lessees ('service charge

funds'). However, as set out in Section 42 of The Landlord & Tenant Act 1987, the company holds

these funds in trust for the lessees and, in accordance with recommended practice issued by Institute

of Chartered Accountants in England and Wales, these contributions are not reflected in the accounts.

2.	OPERATING LOSS

The director received no remuneration in respect of his services to the company for the year (2014 :

£Nil).

3.

TAXATION

The company is liable to UK corporation tax on any surplus on ordinary activities for the year. However,

as there is no reported surplus, there is no tax charge in respect of this year.

Service charge funds are held by the company in trust for the tenants and hence any income tax

chargeable at the rate applicable to such trusts is not reflected in these accounts.

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2014

48,119

Additions

47,699

Disposals

(1,069

)

At 31 March 2015

94,749

NET BOOK VALUE

At 31 March 2015

94,749

At 31 March 2014

48,119

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.15

31.3.14

£

£

Other debtors

230

56,217

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.15

31.3.14

£

£

Other creditors

5,366

5,191

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.15

31.3.14

£

£

Amounts owed to group undertakings

121,097

107,276

Other creditors

8,252

23,560

129,349

130,836

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Shareholder loans

(unsecured)

8,252

23,560

8,252

23,560

The loans are interest free and were made by the shareholders of the company with no repayment

terms. The loans are repayable at the sole discretion of the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

16

Ordinary

1

16

16

9.

RESERVES

Income

and

expenditure

account

£

At 1 April 2014

(18,110

)

Deficit for the year

(1,138

)

At 31 March 2015

(19,248

)

10.	RELATED PARTY TRANSACTIONS

11.	ULTIMATE CONTROLLING PARTY

12.	GOING CONCERN

The company does not have sufficient income to meet its obligations. However, the director considers

the company to be a going concern due to the continuing support of its group companies.