ACCOUNTS - Final Accounts preparation
ACCOUNTS - Final Accounts preparation
|
Registered number:
Unaudited
For the Period Ended
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Lanthorne Properties Limited
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Lanthorne Properties Limited for the Period Ended 5 April 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lanthorne Properties Limited for the period ended 5 April 2018 which comprise the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company 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 at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Lanthorne Properties Limited, as a body, in accordance with the terms of our engagement letter dated 29 June 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Lanthorne Properties Limited and state those matters that we have agreed to state to the Board of Directors of Lanthorne Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lanthorne Properties Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Lanthorne Properties 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 or loss of Lanthorne Properties Limited. You consider that Lanthorne Properties Limited is exempt from the statutory audit requirement for the period.
Chartered Accountants
37 St Margaret's Street
Kent
CT1 2TU
Page 1
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Lanthorne Properties Limited
Registered number: 10417235
Balance Sheet
As at
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 4 to 6 form part of these financial statements.
Page 2
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Lanthorne Properties Limited
Statement of Changes in Equity
For the Period Ended 5 April 2018
Page 3
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Lanthorne Properties Limited
Notes to the Financial Statements
For the Period Ended 5 April 2018
Lanthorne Properties Limited is a private company, limited by shares, domiciled in England and Wales, registration number 10417235. The registered office is 7, Trinity Square, Reading Street, Broadstairs, Kent, CT10 3BA, which is also the place of business. The company's principal activity is that of property development.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The company had net liabilities of £25,874 at the balance sheet date. The company is relying on the continued support of the directors, who have loaned the company a combined £352,161, and they have agreed not to request significant repayment of this loan prior to the property sale which is anticipated in the forthcoming year.
Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.
Work in progress and finished goods include labour and attributable overheads.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 4
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Lanthorne Properties Limited
Notes to the Financial Statements
For the Period Ended 5 April 2018
2 ordinary £1 shares were allotted in the period, at par.
Page 5
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Lanthorne Properties Limited
Notes to the Financial Statements
For the Period Ended 5 April 2018
All issued shares are held equally by Mr J and Mrs R Parkin, who are husband and wife.
Page 6
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||