Lord Properties Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04129457 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014

FOR

LORD PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

C Skarparis

K P Simeou

C Pantazis

SECRETARY:

C Skarparis

REGISTERED OFFICE:

10b Aldermans Hill

Palmers Green

N13 4PJ

REGISTERED NUMBER:

04129457 (England and Wales)

ACCOUNTANTS:

Chris Skarparis & Co Ltd

Chartered Accountants

10(b) Aldermans Hill

Palmers Green

London

N13 4PJ

FIXED ASSETS

Tangible assets

2

970,000

970,000

CURRENT ASSETS

Debtors

3

1,075

1,075

Cash at bank

15,169

71,368

16,244

72,443

CREDITORS

Amounts falling due within one year

4

48,244

47,632

NET CURRENT (LIABILITIES)/ASSETS

(32,000

)

24,811

TOTAL ASSETS LESS CURRENT LIABILITIES

938,000

994,811

CREDITORS

Amounts falling due after more than one year

4

312,731

399,855

NET ASSETS

625,269

594,956

CAPITAL AND RESERVES

Called up share capital

5

3

3

Revaluation reserve

364,179

364,179

Profit and loss account

261,087

230,774

SHAREHOLDERS' FUNDS

625,269

594,956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 December 2014 and were signed on its behalf by:

C Skarparis - Director

K P Simeou - Director

C Pantazis - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net rental income, excluding value added tax.

Tangible fixed assets

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

Land and buildings

-

not provided

In accordance with Statement of Standard Accounting Practice No 19, no depreciation or amortisation is

provided in respect of freehold or long leasehold investment properties. 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.

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 April 2013

and 31 March 2014

970,000

NET BOOK VALUE

At 31 March 2014

970,000

At 31 March 2013

970,000

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 1,075 (31.3.13 - £ 1,075 )

4.

CREDITORS

Creditors include an amount of £ 341,199 (31.3.13 - £ 428,323 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.3.14

31.3.13

£

£

Repayable otherwise than by instalments

100,003

157,963

Repayable by instalments

72,857

102,021

172,860

259,984

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

3

Ordinary

£1

3

3

6.	CONTROLLING PARTIES

The company is controlled by C. Skarparis, K.P. Simeou and C. Pantazis, the company directors and

shareholders.

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

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

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

financial statements of Lord Properties Limited for the year ended 31 March 2014 which comprise the Profit and Loss

Account, the 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Lord Properties Limited, as a body, in accordance with our terms

of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lord

Properties Limited and state those matters that we have agreed to state to the Board of Directors of Lord Properties

Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest

extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of

Directors, as a body, for our work or for this report.

It is your duty to ensure that Lord 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 of Lord Properties

Limited. You consider that Lord Properties 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 Lord Properties 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.

Chris Skarparis & Co Ltd

Chartered Accountants

10(b) Aldermans Hill

Palmers Green

London

N13 4PJ

29 December 2014