L.B.J. (Investments) Limited

L.B.J. (Investments) Limited

L.B.J. (INVESTMENTS) LIMITED - Company Information

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Company Registration No. 03076178 (England and Wales)
L.B.J. (Investments) Limited Annual report and unaudited accounts for the year ended 30 June 2016
L.B.J. (Investments) Limited Annual report and unaudited accounts Contents
Page
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L.B.J. (Investments) Limited Company Information for the year ended 30 June 2016
Director
Mr S. Jacobs
Company Number
03076178 (England and Wales)
Registered Office
103 High Street Waltham Cross Hertfordshire EN8 7AN
Accountants
Brindley Goldstein Ltd 103 High Street Waltham Cross Herts. EN8 7AN
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L.B.J. (Investments) Limited Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of L.B.J. (Investments) Limited for the year ended 30 June 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of L.B.J. (Investments) Limited for the year ended 30 June 2016 as set out on pages 5 - 9 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 Board of Directors of L.B.J. (Investments) Limited, as a body, in accordance with the terms of our engagement letter dated 3 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of L.B.J. (Investments) Limited and state those matters that we have agreed to state to the Board of Directors of L.B.J. (Investments) Limited, as a body, 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 L.B.J. (Investments) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that L.B.J. (Investments) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of L.B.J. (Investments) Limited. You consider that L.B.J. (Investments) 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 accounts of L.B.J. (Investments) 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 accounts.
Brindley Goldstein Ltd Chartered Accountants 103 High Street Waltham Cross Herts. EN8 7AN 21 March 2017
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L.B.J. (Investments) Limited Statement of financial position as at 30 June 2016
2016 
2015 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
1,577,885 
1,577,885 
Investment property
5
457,782 
356,026 
Investments
6
1 
1 
2,035,668 
1,933,912 
Current assets
Debtors
7
1,271,228 
1,671,241 
Cash at bank and in hand
667,353 
283,403 
1,938,581 
1,954,644 
Creditors: amounts falling due within one year
8
(515,473)
(503,768)
Net current assets
1,423,108 
1,450,876 
Total assets less current liabilities
3,458,776 
3,384,788 
Creditors: amounts falling due after more than one year
9
(657,382)
(657,382)
Net assets
2,801,394 
2,727,406 
Capital and reserves
Called up share capital
10
12 
12 
Revaluation reserve
806,872 
806,872 
Profit and loss account
1,994,510 
1,920,522 
Shareholders' funds
2,801,394 
2,727,406 
For the year ending 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.
Approved by the Board on 21 March 2017.
Mr S. Jacobs Director Company Registration No. 03076178
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L.B.J. (Investments) Limited Statement of Changes in Equity as at 30 June 2016
Share capital 
Reserves 
Profit & loss account 
Total 
£ 
£ 
£ 
£ 
At 1 July 2014
12 
806,872 
1,885,994 
2,692,878 
Profit for the year
34,528 
34,528 
At 30 June 2015
12 
806,872 
1,920,522 
2,727,406 
At 1 July 2015
12 
806,872 
1,920,522 
2,727,406 
Profit for the year
73,988 
73,988 
At 30 June 2016
12 
806,872 
1,994,510 
2,801,394 
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L.B.J. (Investments) Limited Notes to the Accounts for the year ended 30 June 2016
1
Statutory information
L.B.J. (Investments) Limited is a private company, limited by shares, registered in England and Wales, registration number 03076178. The principal place of business is 11-12 Wigmore Place, London, W1U 2LU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 June 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be immaterial. The directors undertake an annual impairment review of these properties.
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L.B.J. (Investments) Limited Notes to the Accounts for the year ended 30 June 2016
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 July 2015
1,577,885 
At 30 June 2016
1,577,885 
Depreciation
At 30 June 2016
- 
Net book value
At 30 June 2016
1,577,885 
At 30 June 2015
1,577,885 
5
Investment property
2016 
£ 
Fair value at 1 July 2015
356,026 
Additions
101,756 
At 30 June 2016
457,782 
6
Investments
Other investments 
£ 
Valuation at 1 July 2015
1 
Valuation at 30 June 2016
1 
7
Debtors
2016 
2015 
£ 
£ 
Other debtors
1,271,228 
1,671,241 
8
Creditors: amounts falling due within one year
2016 
2015 
£ 
£ 
Trade creditors
23,540 
21,740 
Corporation tax
18,497 
8,632 
Other creditors
380,151 
380,141 
Loans from directors
91,485 
91,485 
Accruals
1,800 
1,770 
515,473 
503,768 
9
Creditors: amounts falling due after more than one year
2016 
2015 
£ 
£ 
Bank loans
657,382 
657,382 
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L.B.J. (Investments) Limited Notes to the Accounts for the year ended 30 June 2016
10
Share capital
2016 
2015 
£ 
£ 
Allotted, called up and fully paid:
12 Ordinary shares of £1 each
12 
12 
11
Transactions with related parties
The company was under the control of Mr S. Jacobs during the current and prior years. Mr S. Jacobs' wife, Mrs K. Jacobs, holds 25% of the company's issued share capital, and Mrs M. Lucas holds 75% of the company's issued share capital. Mrs M. Lucas is married to the company secretary, Mr G. Lucas. Included in the other debtors figure is a loan with Capedeal Limited of £1,229,837 (2015: £1,229,837). This loan is unsecured, interest free and has no fixed terms of repayment.
12
Average number of employees
During the year the average number of employees was 0 (2015: 0).
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