Leasetoday Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02722546 (England and Wales)

LEASETODAY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr R Cutt

Mr R A Cutt

Mrs E J Gallagher

SECRETARY:

Mr R Cutt

REGISTERED OFFICE:

54 Knifesmithgate

Chesterfield

Derbyshire

S40 1RQ

REGISTERED NUMBER:

02722546 (England and Wales)

ACCOUNTANTS:

The Rees Partnership

Bentley Bridge House

Chesterfield Road

Matlock

Derbyshire

DE4 5LE

BANKERS:

The Royal Bank Of Scotland

2 Stephenson Place

Chesterfield

Derbyshire

S40 1XL

FIXED ASSETS

Tangible assets

3

78

118

Investment property

4

498,000

498,000

498,078

498,118

CURRENT ASSETS

Cash at bank

-

1,600

CREDITORS

Amounts falling due within one year

5

(36,563

)

(37,453

)

NET CURRENT LIABILITIES

(36,563

)

(35,853

)

TOTAL ASSETS LESS CURRENT LIABILITIES

461,515

462,265

CREDITORS

Amounts falling due after more than one year

6

(59,712

)

(78,807

)

PROVISIONS FOR LIABILITIES

(2,706

)

(4,922

)

NET ASSETS

399,097

378,536

CAPITAL AND RESERVES

Called up share capital

500

500

Fair value reserve

8

199,830

197,614

Capital redemption reserve

500

500

Retained earnings

198,267

179,922

SHAREHOLDERS' FUNDS

399,097

378,536

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 10 November 2017 and were signed on its behalf by:

Mr R Cutt - Director

1.	STATUTORY INFORMATION

Leasetoday 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.

The financial statements have been prepared on the going concern basis. No material uncertainties

that may cast significant doubt about the ability of the company to continue as a going concern have

been identified by the directors.

Turnover

Turnover represents net invoiced rents and service charges, excluding VAT.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. 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.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2016

and 31 August 2017

17,551

DEPRECIATION

At 1 September 2016

17,433

Charge for year

40

At 31 August 2017

17,473

NET BOOK VALUE

At 31 August 2017

78

At 31 August 2016

118

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2016

and 31 August 2017

498,000

NET BOOK VALUE

At 31 August 2017

498,000

At 31 August 2016

498,000

Fair value at 31 August 2017 is represented by:

£

Valuation in 2017

202,536

Cost

295,464

498,000

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

historical cost:

2017

2016

£

£

Cost

295,464

295,464

Investment properties were valued on an open market basis on 31 August 2017 by the directors .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

23,380

22,021

Taxation and social security

6,028

6,892

Other creditors

7,155

8,540

36,563

37,453

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

59,712

78,807

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdraft

1,359

-

Bank loans

81,733

100,828

83,092

100,828

Bank borrowings are secured by a charge on the freehold land and buildings and on the rental income

arising therefrom.

8.

RESERVES

Fair

value

reserve

£

At 1 September 2016

197,614

Reserve transfer

2,216

At 31 August 2017

199,830

9.	RELATED PARTY DISCLOSURES

The company's properties are managed by a property management company owned by Mr R Cutt,

fees charged in respect of these services were £2,554 (2016: £2,719).

Other Creditors include the balance on the directors loan account of £6,000 (2016: £7,200). This loan

is interest free with no fixed term for repayment. The maximum balance outstanding during the year

was £7,200.

There have been no material transactions with any related parties, other than those with the directors.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors, by virtue of their shareholdings.