LPC Properties Limited - Accounts to registrar (filleted) - small 17.3
LPC Properties Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
| FOR |
| LPC PROPERTIES LIMITED |
| LPC PROPERTIES LIMITED (REGISTERED NUMBER: 09022360) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| LPC PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 7 St John's Road |
| Harrow |
| Middlesex |
| HA1 2EY |
| LPC PROPERTIES LIMITED (REGISTERED NUMBER: 09022360) |
| BALANCE SHEET |
| 31 MAY 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| 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 by: |
| LPC PROPERTIES LIMITED (REGISTERED NUMBER: 09022360) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 1. | STATUTORY INFORMATION |
| LPC Properties Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements for the year ended 31 May 2017 are the first financial statements that comply with |
| FRS 102 Section 1A small entities.The date of transition is 1 June 2015. |
| The transition to FRS102 Section 1A small entities has resulted in no changes in accounting policies to those |
| used previously and therefore there is no impact on opening equity and profit for the comparative period. |
| Stocks |
| Stock represents property which are valued at the lower of cost and net realisable value. Cost includes |
| acquisition cost and incidental costs. |
| 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. |
| Going concern |
| Where current liabilities exceed current assets the director considers the ability of the company to continue to |
| meet its liabilities from liquid assets as and when the liabilities fall due. The director also considers the support |
| given to the company by its creditors. If the director is satisfied that the company can meet its liabilities as and |
| when the fall due, and that the company has sufficient support from its creditors, the accounts are prepared on a |
| going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2016 - NIL). |
| LPC PROPERTIES LIMITED (REGISTERED NUMBER: 09022360) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Prepayments |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Amount due to related company |
| Directors' current accounts | 2,711 | - |
| Accrued expenses |
| 6. | RELATED PARTY DISCLOSURES |
| Included in other creditor is £780,000 (2016: £675,000) due to Silvio's Quality Sandwich Bars Limited, a |
| company in which Mr P Ciccone is also a director. The loan is interest free and repayable on demand. |
| 7. | GOING CONCERN |
| Where current liabilities exceed current assets the director considers the ability of the company to continue to |
| meet its liabilities from liquid assets as and when the liabilities fall due. The director also considers the support |
| given to the company by its creditors. If the director is satisfied that the company can meet its liabilities as and |
| when the fall due, and that the company has sufficient support from its creditors, the accounts are prepared on a |
| going concern basis. |