Lowndes Properties Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09083170 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

LOWNDES PROPERTIES LTD

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

E Levin

M Lipschutz

REGISTERED OFFICE:

28 Theydon Road

London

E5 9NA

REGISTERED NUMBER:

09083170 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

5

1,398

1,411

Investment property

6

810,000

422,997

811,398

424,408

CURRENT ASSETS

Debtors

3,181

-

CREDITORS

Amounts falling due within one year

394,970

399,125

NET CURRENT LIABILITIES

(391,789

)

(399,125

)

TOTAL ASSETS LESS CURRENT LIABILITIES

419,609

25,283

CAPITAL AND RESERVES

Called up share capital

7

100

100

Fair value reserve

8

380,353

-

Retained earnings

8

39,156

25,183

SHAREHOLDERS' FUNDS

419,609

25,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement and an abridged Statement of Financial Position for the year ended 30 June 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 29 March 2018 and were signed on its behalf by:

M Lipschutz - Director

1.	STATUTORY INFORMATION

Lowndes Properties Ltd 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.	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 as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 June 2017 are the first that are prepared in accordance with FRS

102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 July 2015.

There are no material differences between in determining the company's profit and loss under FRS 102 and the

previous framework the company adopted (the Financial Reporting Standard for Smaller Entities (effective

January 2015)).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

15% 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2016

1,727

Additions

234

At 30 June 2017

1,961

DEPRECIATION

At 1 July 2016

316

Charge for year

247

At 30 June 2017

563

NET BOOK VALUE

At 30 June 2017

1,398

At 30 June 2016

1,411

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2016

422,997

Additions

6,650

Revaluations

380,353

At 30 June 2017

810,000

NET BOOK VALUE

At 30 June 2017

810,000

At 30 June 2016

422,997

Fair value at 30 June 2017 is represented by:

£

Valuation in 2017

380,353

Cost

429,647

810,000

The investment properties were valued on an open market basis on 30 June 2017 by the directors .

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.17

30.6.16

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 July 2016

25,183

-

25,183

Profit for the year

394,326

394,326

Fair value adjustments

(380,353

)

380,353

-

At 30 June 2017

39,156

380,353

419,509