Landau Investments (1978) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01369243 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

LANDAU INVESTMENTS (1978) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C S Landau

J E Landau

M P A Landau

H Landau

SECRETARY:

C S Landau

REGISTERED OFFICE:

12 Ranelagh Close

Edgware

Middlesex

HA8 8HL

REGISTERED NUMBER:

01369243 (England and Wales)

ACCOUNTANTS:

Harford Michaels Kaye Limited

Chartered Certified Accountants

250 Hendon Way

London

NW4 3NL

FIXED ASSETS

Investments

4

40,001

40,001

Investment properties

5

3,075,000

3,075,000

3,115,001

3,115,001

CURRENT ASSETS

Debtors

6

761,202

763,817

Cash at bank and in hand

759,541

796,058

1,520,743

1,559,875

CREDITORS

Amounts falling due within one year

7

(84,194

)

(85,265

)

NET CURRENT ASSETS

1,436,549

1,474,610

TOTAL ASSETS LESS CURRENT LIABILITIES

4,551,550

4,589,611

PROVISIONS FOR LIABILITIES

(243,909

)

(283,557

)

NET ASSETS

4,307,641

4,306,054

CAPITAL AND RESERVES

Called up share capital

15,000

15,000

Share premium

502,605

502,605

Retained earnings

3,790,036

3,788,449

SHAREHOLDERS' FUNDS

4,307,641

4,306,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 September 2017 and were signed on its behalf by:

C S Landau - Director

1.	STATUTORY INFORMATION

Landau Investments (1978) Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable.

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment properties

Investment properties are initially measured at acquisition cost. Subsequently investment properties whose fair

values can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value.

Gains or losses arising from the changes in fair value are included in the profit and loss account in the period in

which they arise.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets or

liabilities like trade debtors, other debtors, trade creditors and other creditors, loans from banks or other third

parties and loans to/from related parties.

Debt instruments like bank loans are initially measured at present value of future payments and subsequently at

amortised cost using the effective interest method. Debt instruments which are payable or receivable within one

year such as trade debtors or trade creditors are measured, initially and subsequently at the undiscounted amount

of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in the profit & loss account.

Taxation

Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other

comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	FIXED ASSET INVESTMENTS

Interest

in

Other

associate

investments

Totals

£

£

£

COST

At 1 July 2016

and 30 June 2017

40,000

1

40,001

NET BOOK VALUE

At 30 June 2017

40,000

1

40,001

At 30 June 2016

40,000

1

40,001

5.	INVESTMENT PROPERTIES

Total

£

FAIR VALUE

At 1 July 2016

and 30 June 2017

3,075,000

NET BOOK VALUE

At 30 June 2017

3,075,000

At 30 June 2016

3,075,000

Cost or valuation at 30 June 2017 is represented by:

£

Valuation in 2014

2,292,370

Valuation in 2015

267,442

Cost

515,188

3,075,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2017

2016

£

£

Cost

515,188

515,188

The investment properties were valued on an open market basis on 30 June 2017 by the directors of the company

.

6.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

917

15,014

Other debtors

707,729

696,247

708,646

711,261

Amounts falling due after more than one year:

Other debtors

52,556

52,556

Aggregate amounts

761,202

763,817

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

28,544

30,261

Other creditors

55,650

55,004

84,194

85,265

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2017 and

30 June 2016:

2017

2016

£

£

M P A Landau

Balance outstanding at start of year

38,000

38,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

38,000

38,000

In addition, Mrs H Landau, a director of the company, occupies one property (7 Allerton Court), rent free.

9.	RELATED PARTY DISCLOSURES

Included in debtors is a loan, of £655,000 (2016 - £659,000), on mortgage to C.B.L. (Property Investment) Co

Limited, a company which has directors in common with Landau Investments (1978) Limited. The loan carries a

commercial rate of interest and during the year, the sum of £14,743 (2016 - £18,092) was credited to the Profit

and Loss account.

10.	RETAINED EARNINGS

The amount of Retained Earnings not being distributable, as at the balance sheet date, was £2,315,903 (2016 -

£2,276,255).

11.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last Financial Statements

under old UK GAAP were for the year ended 30 June 2016. The date of transition to FRS 102 was 1 July 2015.

The transitional adjustments arising from the first time adoption of FRS 102 have been reflected in the Financial

Statements.