Lee Savell Properties Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02335268 (England and Wales)

LEE SAVELL PROPERTIES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

E B Rogers

Mrs M Rogers

SECRETARY:

E B Rogers

REGISTERED OFFICE:

39A Welbeck Street

London

W1G 8DH

REGISTERED NUMBER:

02335268 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

39A Welbeck Street

London

W1G 8DH

FIXED ASSETS

Tangible assets

2

37,802

38,884

Investments

3

17,000

Investment property

4

1,675,000

902,080

1,729,802

957,964

CURRENT ASSETS

Stocks

2,658,620

2,177,251

Debtors

311,524

276,485

Cash at bank and in hand

77,826

965,672

3,047,970

3,419,408

CREDITORS

Amounts falling due within one year

210,770

277,670

NET CURRENT ASSETS

2,837,200

3,141,738

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,567,002

4,099,702

CAPITAL AND RESERVES

Called up share capital

5

52

Revaluation reserve

786,417

210,000

Profit and loss account

3,780,533

3,889,650

SHAREHOLDERS' FUNDS

4,567,002

4,099,702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 1st September 2016 and were signed on its behalf
by:

E B Rogers - Director

Mrs M Rogers - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Preparation of consolidated financial statements

The financial statements contain information about Lee Savell Properties Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

The turnover shown in the profit and loss account represents sale of properties and rents receivable during the

year, exclusive of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

20% on reducing balance

Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the annual

revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual

investment property is expected to be permanent, in which case it is recognised in the profit and loss account for

the year.

In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) no

depreciation is provided in respect of freehold properties held as investments. This is a departure from the

requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are

held for investment and not for consumption and the directors consider that to depreciate them would not give a

true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties

and accordingly the amount of depreciation which might otherwise have been charged cannot be separately

identified or quantified. The directors consider that this policy results in the financial statements giving a true and

fair view.

Stocks

Stocks are valued at the lower of the cost and net realisable value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from

those of the company in an independently administered fund. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2015

and 30th April 2016

73,682

DEPRECIATION

At 1st May 2015

34,798

Charge for year

1,082

At 30th April 2016

35,880

NET BOOK VALUE

At 30th April 2016

37,802

At 30th April 2015

38,884

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st May 2015

and 30th April 2016

17,000

NET BOOK VALUE

At 30th April 2016

17,000

At 30th April 2015

17,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Zwei Properties Limited

Nature of business: Property dealing

%

Class of shares:

holding

Ordinary shares

50.00

31/3/16

31/3/15

£

Aggregate capital and reserves

(367

)

(2,116

)

Loss for the year

(2,483

)

(211

)

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1st May 2015

902,080

Additions

196,503

Revaluations

576,417

At 30th April 2016

1,675,000

NET BOOK VALUE

At 30th April 2016

1,675,000

At 30th April 2015

902,080

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

52

Ordinary

£1

52