London Capital Fundco 1 Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06425856 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

LONDON CAPITAL FUNDCO 1 LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A H J Binnie

A J D Seddon

SECRETARY:

A H J Binnie

REGISTERED OFFICE:

1 Bramley Business Centre

Station Road

Bramley

Surrey

GU5 0AZ

REGISTERED NUMBER:

06425856 (England and Wales)

FIXED ASSETS

Investments

2

686

686

CURRENT ASSETS

Debtors

860,314

3,430,314

Cash in hand

42

42

860,356

3,430,356

CREDITORS

Amounts falling due within one year

2,820,199

2,818,082

NET CURRENT (LIABILITIES)/ASSETS

(1,959,843

)

612,274

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,959,157

)

612,960

CAPITAL AND RESERVES

Called up share capital

3

57

57

Capital redemption reserve

11

11

Profit and loss account

(1,959,225

)

612,892

SHAREHOLDERS' FUNDS

(1,959,157

)

612,960

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 29 December 2016 and were signed on its behalf by:

A H J Binnie - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis, which is dependant upon the ongoing

financial support of the loan note holders and the provision of additional funding as appropriate.

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 January 2015).

Deferred tax

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

sheet date.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

686

NET BOOK VALUE

At 31 December 2015

686

At 31 December 2014

686

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

Associated company

One Ennismore Limited

Nature of business: Property development

%

Class of shares:

holding

Ordinary

42.24

2015

2014

£

£

Aggregate capital and reserves

(2,572,287

)

(1,149,785

)

Loss for the year

(1,422,502

)

(467,327

)

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

800

A Ordinary

1p

8

8

469

B Ordinary

1p

5

5

1,035

C Ordinary

1p

10

10

1,000

E Ordinary

1p

10

10

464

F Ordinary

1p

5

5

400

G Ordinary

1p

4

4

400

J Ordinary

1p

4

4

165

L Ordinary

1p

2

2

69

M Ordinary

1p

1

1

800

E1 Ordinary

1p

8

8

57

57

All classes of shares shall rank pari passu in all respects save as set out in the Articles of Association.

4.	RELATED PARTY DISCLOSURES

One Ennismore Limited

An company in which A H J Binnie and A J D Seddon have an interest

During the year to 31 December 2015, the company loaned One Ennismore Limited £nil (2014 - £nil). The

balance outstanding at the year end was £3,429,314 (2014 - £3,429,314) which is included within loan notes,

being due within one year. During the year ended 31 December 2015, the company made a provision of

£2,570,000 (2014 - £nil) for the permanent diminution in the value of the loan.

During the year to the 31 December 2015, the company was loaned £nil (2014 - £5,172) by One Ennismore

Limited. The balance outstanding at the year end was £5,172 (2014 - £5,172), which is included within Other

Creditors.

London Capital Corp Limited

A company in which A H J Binnie and A J D Seddon have an interest

During the year to 31 December 2015, London Capital Corp Limited, loaned the company £nil (2014 - £500).

The balance outstanding at the year end was £9,894 (2014 - £9,894). This amount is included within other

creditors due within one year.

Included within Creditors due within one year: Loan notes is an amount of £400,000 (2014 - £400,000) due to

London Capital Corp Limited.

5.	ULTIMATE CONTROLLING PARTY