Landasko Property Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03669934 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2016

for

Landasko Property Services Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

H E Stojak

Mrs D L Stojak

SECRETARY:

H E Stojak

REGISTERED OFFICE:

The Mills

Canal Street

Derby

DE1 2RJ

REGISTERED NUMBER:

03669934 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Tangible assets

2

9,151

14,171

Investments

3

100

Investment property

4

2,765,380

2,506,623

2,774,631

2,520,894

CURRENT ASSETS

Debtors

128

-

Cash at bank

31,206

121,086

31,334

121,086

CREDITORS

Amounts falling due within one year

5

1,595,631

1,648,183

NET CURRENT LIABILITIES

(1,564,297

)

(1,527,097

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,210,334

993,797

CREDITORS

Amounts falling due after more than one
year

5

721,717

751,816

NET ASSETS

488,617

241,981

CAPITAL AND RESERVES

Called up share capital

6

200

Revaluation reserve

331,817

161,188

Profit and loss account

156,600

80,593

SHAREHOLDERS' FUNDS

488,617

241,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 17 July 2017 and were signed on its
behalf by:

H E Stojak - 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).

Turnover

Turnover represents net invoiced fees and rents receivable from properties.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is not depreciated but is revalued annually at its market value, in accordance with

the Financial Reporting Standard for Smaller Entities (effective January 2015), which is contrary to the

requirement of the Companies Act 2006 for all fixed assets to be depreciated. Any aggregate surplus

or deficit arising from changes in market value is transferred to a revaluation reserve.

Deferred tax

Deferred tax is recognised in respect of all material timing differences. No provision is made for

potential tax arising on assets which have been revalued, unless there is a commitment to sell such

property at the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

Fixed asset investments

Fixed asset investments are stated at cost less any permanent diminution in value.

Group accounts

In accordance with the exemptions given by the Companies Act 2006, the company has not produced

group financial statements because it heads a small group.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

287,978

Disposals

(1,240

)

At 31 October 2016

286,738

DEPRECIATION

At 1 November 2015

273,807

Charge for year

4,090

Eliminated on disposal

(310

)

At 31 October 2016

277,587

NET BOOK VALUE

At 31 October 2016

9,151

At 31 October 2015

14,171

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 November 2015

and 31 October 2016

100

NET BOOK VALUE

At 31 October 2016

100

At 31 October 2015

100

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

following:

JOSKAT Limited

Nature of business: owning and renting out property

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

188,196

180,793

Profit for the year

7,403

7,426

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 November 2015

2,506,623

Additions

88,128

Revaluations

170,629

At 31 October 2016

2,765,380

NET BOOK VALUE

At 31 October 2016

2,765,380

At 31 October 2015

2,506,623

5.

CREDITORS

Creditors include an amount of £ 751,661 (2015 - £ 780,761 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

591,303

625,752

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

200

Ordinary

£1

200