LFDO Developments Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09548186 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

LFDO DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTOR:

L C Freilich

REGISTERED OFFICE:

5 Sentinel Square

Hendon

London

NW4 2EL

REGISTERED NUMBER:

09548186 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Investment property

4

1,026,292

1,026,292

CURRENT ASSETS

Debtors

5

56,900

79,685

Cash at bank and in hand

1,150

1,123

58,050

80,808

CREDITORS

Amounts falling due within one year

6

(311,334

)

(345,438

)

NET CURRENT LIABILITIES

(253,284

)

(264,630

)

TOTAL ASSETS LESS CURRENT LIABILITIES

773,008

761,662

CREDITORS

Amounts falling due after more than one year

7

(831,838

)

(831,838

)

NET LIABILITIES

(58,830

)

(70,176

)

CAPITAL AND RESERVES

Called up share capital

9

4

4

Retained earnings

10

(58,834

)

(70,180

)

SHAREHOLDERS' FUNDS

(58,830

)

(70,176

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 7 June 2018 and were signed by:

L C Freilich - Director

1.	STATUTORY INFORMATION

LFDO Developments 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.

Turnover

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

value added tax and other sales taxes.

Investment property

No depreciation is provided in respect of these properties in accordance with the FRS102. This is a departure

from the requirements of the Companies Act 2006 that depreciation is charged to systematically write off the cost

of assets over their useful economic lives. These properties are held primarily for investment and any trading

income derived from them is incidental. As such, the director considers depreciation of these properties to be

inappropriate. The policy adopted is considered necessary for the financial statements to give a true and fair

view.

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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid

investments with original maturities of three months or less.

Interest receivable/ payable

Interest receivable/payable is credited/charged to the profit and loss account on an accruals basis.

Debtors and creditors receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Going concern

The accounts have been prepared under the going concern basis. This is deemed to be appropriate due to the

ongoing support of the director.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

and 30 April 2017

1,026,292

NET BOOK VALUE

At 30 April 2017

1,026,292

At 30 April 2016

1,026,292

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

56,900

79,685

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

224,488

Other creditors

311,334

120,950

311,334

345,438

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

831,838

831,838

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

831,838

831,838

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Other loan

831,838

831,838

Other loans are secured against the investment property held by the company.

The other loans are secured by a legal charge over the investment property and assets of the company and by a

personal guarantee from the director.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

4

Ordinary

£1

4

4

10.

RESERVES

Retained

earnings

£

At 1 May 2016

(70,180

)

Profit for the year

11,346

At 30 April 2017

(58,834

)

11.	RELATED PARTY DISCLOSURES

L C Freilich

Director of company

2017

2016

£

£

Amount due to related party at the balance sheet date

2,000

2,000

D Ormonde

A previous director in the company

2017

2016

£

£

Amount due to related party at the balance sheet date

-

50,000

Moreland Estate Property Management Limited

A company under common control

2017

2016

£

£

Amount due to related party at the balance sheet date

240,144

161,624

Reelstone Property Holdings Limited

A Company under common control

2017

2016

£

£

Amount due from related party at the balance sheet date

40,000

20,000

Ground Rent Trading Limited

A Company under common control

2017

2016

£

£

Amount due to related party at the balance sheet date

4,500

4,500

MW Freeholds Limited

A Company under common control

2017

2016

£

£

Amount due to related party at the balance sheet date

63,250

63,250

12.	ULTIMATE CONTROLLING PARTY

The company is under control of its directors.

13.	FIRST YEAR ADOPTION

FRS 102 was adopted on 1 May 2016. The transition to FRS102 has not resulted in any effect on the financial

position or financial performance, therefore no reconciliation from the previous framework is required. The last

Financial Statements date under the previous framework was 30 April 2016.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of LFDO Developments Limited for the year ended 30 April 2017 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of LFDO Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LFDO Developments Limited and state those matters that we have agreed to state to the director of LFDO Developments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LFDO Developments Limited and its director for our work or for this report.

It is your duty to ensure that LFDO Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LFDO Developments Limited. You consider that LFDO Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of LFDO Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

7 June 2018