Lady Bird Property Associates Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08533410 (England and Wales)

Financial Statements for the Year Ended 31 May 2017

for

Lady Bird Property Associates Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

H M Nugent

R A Stanley

REGISTERED OFFICE:

10-14 Accommodation Road

Golders Green

London

NW11 8ED

REGISTERED NUMBER:

08533410 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

10-14 Accommodation Road

Golders Green

London

NW11 8ED

CURRENT ASSETS

Stocks

3

850,608

-

Debtors

4

100

100

850,708

100

CREDITORS

Amounts falling due within one year

5

864,420

-

NET CURRENT (LIABILITIES)/ASSETS

(13,712

)

100

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,712

)

100

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(13,812

)

-

SHAREHOLDERS' FUNDS

(13,712

)

100

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 23 February 2018 and were signed on its behalf by:

H M Nugent - Director

1.	STATUTORY INFORMATION

Lady Bird Property Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Stocks

Stock is valued at lower of cost and estimated selling price less costs to complete and sell the property.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

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 statement of financial position date.

Deferred tax

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

financial position 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

The accounts have been prepared on a going concern basis, since in the opinion of the directors, it is appropriate to assume

that the company will receive the continued support of its directors and shareholders for a period in excess of twelve

months from the date of approval of these financial statements

3.

STOCKS

2017

2016

£

£

Stocks

850,608

-

No impairment has been recognised in stock.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

100

100

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other loans

862,575

-

Directors' current accounts

1,095

-

Accruals and deferred income

750

-

864,420

-

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Other loans

862,575

-

The loan is secured by a first legal charge over the company's stock. The loan bears interest at 10% per annum and is

repayable by 7 April 2018

7.	FIRST YEAR ADOPTION

These are the first financial statements that comply with Financial Reporting Standard 102 Section 1A small entities. The

date of transition is 1 June 2015.

No material transitional adjustments were required in equity or profit and loss for the period.