| Langbourn Properties (FH30SCW) Limited |
| Registered number: |
08001239 |
| Balance Sheet |
| as at 30 June 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
1,371,600 |
|
|
1,478,000 |
|
| Current assets |
| Debtors |
3 |
|
21,700 |
|
|
21,651 |
| Cash at bank and in hand |
|
|
1,073 |
|
|
90 |
|
|
|
22,773 |
|
|
21,741 |
|
| Creditors: amounts falling due within one year |
4 |
|
(1,064,041) |
|
|
(1,024,996) |
|
| Net current liabilities |
|
|
|
(1,041,268) |
|
|
(1,003,255) |
|
| Net assets |
|
|
|
330,332 |
|
|
474,745 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Revaluation reserve |
5 |
|
|
451,491 |
|
|
557,891 |
| Profit and loss account |
|
|
|
(121,259) |
|
|
(83,246) |
|
| Shareholders' funds |
|
|
|
330,332 |
|
|
474,745 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| N. C. Wiggins |
| Director |
| Approved by the board on 21 February 2018 |
|
| Langbourn Properties (FH30SCW) Limited |
| Notes to the Accounts |
| for the year ended 30 June 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax, of gross rents receivable under operating leases on the property, and is recognisable as it falls due. |
|
|
Investment property |
|
Investment properties, including freehold and leasehold properties, are valued by the directors each year on an open market basis. Any surplus or deficit arising is transferred to the revaluation reserve, unless a deficit is expected to be permanent, in which case it is charged to the profit and loss account.
In accordance with SSAP19, no depreciation or amortisation is provided in respect of freehold or leasehold properties having more than 20 years unexpired. This departure from the requirements of the Companies Act 2006, for all properties to be depreciated, is, in the opinion of the Directors, necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards, as properties are included in the financial statements at their open market value.
The effect of depreciation and amortisation on value is already reflected annually in the valuation of properties, and the amount attributed to this factor by the valuers cannot reasonably be separately identified or quantified. Had the provisions of the Act been followed, net assets would not have been affected but revenue profits would have been reduced for this and earlier years. |
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Valuation |
|
At 1 July 2016 |
1,478,000 |
|
Loss on revaluation |
(106,400) |
|
At 30 June 2017 |
1,371,600 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 June 2017 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2017 |
1,371,600 |
|
At 30 June 2016 |
1,478,000 |
|
A blank row |
|
| 3 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Other debtors |
21,700 |
|
21,651 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
939,041 |
|
899,996 |
|
Other creditors |
125,000 |
|
125,000 |
|
|
|
|
|
|
1,064,041 |
|
1,024,996 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Revaluation reserve |
2017 |
|
2016 |
| £ |
£ |
|
|
At 1 July 2016 |
557,891 |
|
562,291 |
|
Loss on revaluation of land and buildings |
(106,400) |
|
(4,400) |
|
|
At 30 June 2017 |
451,491 |
|
557,891 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
Under the provision of FRS 8, as a wholly owned subsidiary, the company is exempt from disclosure of transactions with other group companies or with related parties in which the group holds an investment. The consolidated accounts of the parent company, Langbourn Properties Limited, are available from the registered office at 30 Triggs Close, Triggs Lane, Woking GU22 0EJ. |
|
|
| 7 |
Controlling party |
|
|
The ultimate parent company is Langbourn Properties Limited, a company incorporated in England and Wales. Mr N. C. Wiggins, a director of the company controls the company on the basis of holding 89.6% of the issued share capital of the ultimate parent company. |
|
|
| 8 |
Other information |
|
|
Langbourn Properties (FH30SCW) Limited is a private company limited by shares and incorporated in England. |
