LKLSE Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09118970 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

LKLSE Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investment property

4

988,385

988,385

CURRENT ASSETS

Debtors

5

8,162

16,841

Cash at bank

67,353

107,587

75,515

124,428

CREDITORS

Amounts falling due within one year

6

1,040,018

1,049,036

NET CURRENT LIABILITIES

(964,503

)

(924,608

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,882

63,777

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

23,782

63,677

SHAREHOLDERS' FUNDS

23,882

63,777

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 24 January 2018 and were signed on its behalf by:

L A Elvidge - Director

1.	STATUTORY INFORMATION

LKLSE Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address are as below:

Registered number:

09118970

Registered office:

Treviot House

186-192 High Road

Ilford

Essex

IG1 1LR

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.

Turnover

Turnover represents rent and service charges receivable during the period net of value added tax.

Investment property

Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred

taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

Going concern

The balance sheet at the end of the year recorded net current liabilities. However, the directors believe sufficient

financial resources are available to the company to enable it to continue trading into the foreseeable future.

Therefore, the financial statements have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2016

and 31 July 2017

988,385

NET BOOK VALUE

At 31 July 2017

988,385

At 31 July 2016

988,385

The directors consider the current market value of the properties not to be materially different to the current

carrying values based on comparisons with similar properties in the area.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

9,186

Other debtors

8,162

7,655

8,162

16,841

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

229

1,604

Taxation and social security

12,831

22,522

Other creditors

1,026,958

1,024,910

1,040,018

1,049,036

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £64,000 (2016 - £58,000) were paid to the directors .

8.	FIRST YEAR ADOPTION

There are no adjustments to be shown in a Reconciliation of Equity as at 1st August 2015 (date of transition to

FRS102).

There are also no adjustments to be made in the Reconciliation of Equity as at 31st July 2016, or in the

Reconciliation of Profit for the year ended 31st July 2016, as a result of the transition to FRS102.