Lees-Milne Investments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09312360 (England and Wales)

LEES-MILNE INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2017

Page

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

S Tennant

R E W Robinson

A J M Bracey

REGISTERED OFFICE:

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

REGISTERED NUMBER:

09312360 (England and Wales)

ACCOUNTANTS:

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Lees-Milne Investments Limited for the year ended 31st March 2017

which comprise the Income Statement, Abridged Balance Sheet, and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lees-Milne Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lees-Milne Investments Limited and state those matters that we have agreed to state to the Board of Directors of Lees-Milne Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lees-Milne Investments Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lees-Milne Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lees-Milne Investments Limited. You consider that Lees-Milne 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 financial statements of Lees-Milne 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 financial statements.

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

13th November 2017

FIXED ASSETS

Investments

4

2,979,479

2,602,622

CURRENT ASSETS

Debtors

100

326

CREDITORS

Amounts falling due within one year

(7,897

)

(1,800

)

NET CURRENT LIABILITIES

(7,797

)

(1,474

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,971,682

2,601,148

CREDITORS

Amounts falling due after more than one year

5

(2,596,594

)

(2,596,594

)

PROVISIONS FOR LIABILITIES

(56,024

)

-

NET ASSETS

319,064

4,554

CAPITAL AND RESERVES

Called up share capital

7

100

100

Fair value reserve

8

238,508

(330

)

Retained earnings

80,456

4,784

SHAREHOLDERS' FUNDS

319,064

4,554

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 3rd November 2017 and were signed on its behalf by:

R E W Robinson - Director

1.	STATUTORY INFORMATION

Lees-Milne Investments 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these

financial statements.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in

non-convertible preference and non-puttable ordinary shares which are measured at fair value, with

changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and

thereafter at fair value with changes 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 material 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.

Fixed asset investments

Fixed asset investments are held at fair value.

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

Cost or valuation

At 1st April 2016

2,602,622

Additions

376,857

At 31st March 2017

2,979,479

Net book value

At 31st March 2017

2,979,479

At 31st March 2016

2,602,622

Cost or valuation at 31st March 2017 is represented by:

Totals

£

Valuation in 2017

294,862

Cost

2,684,617

2,979,479

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2017

2016

£

£

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

2,596,594

2,596,594

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Other loans

2,596,594

2,596,594

The loan is secured by a fixed and floating charge on the assets of the company.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary A

£1

100

100

8.

RESERVES

Fair

value

reserve

£

At 1st April 2016

(330

)

Deferred tax

(56,024

)

Unrealised movement

294,862

At 31st March 2017

238,508

9.	TRANSITION TO FINANCIAL REPORTING STANDARD 102

This is the first year that the company has presented its results in accordance with the provisions of

Section 1A “Small Entities” of Financial Reporting Standard 102. The last financial statements under

the provisions of UK GAAP were for the year ended 31 March 2016. The date of the transition to

Section 1A “Small Entities” of Financial Reporting Standard 102 was 14 November 2014. There has

been no effect on the financial statements arising from the transition from UK GAAP as previously

reported and Section 1A “Small Entities” of Financial Reporting Standard 102.