ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

LONDON DEVELOPMENT CORPORATION (FORTY LANE) LIMITED - Company Information

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Caseware UK (AP4) 2016.0.181 2016.0.181 2018-05-312018-05-31false2017-06-01truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity 10178861 2017-06-01 2018-05-31 10178861 2016-05-13 2017-05-31 10178861 2018-05-31 10178861 2017-05-31 10178861 c:Director1 2017-06-01 2018-05-31 10178861 c:Director3 2017-06-01 2018-05-31 10178861 d:CurrentFinancialInstruments 2018-05-31 10178861 d:CurrentFinancialInstruments 2017-05-31 10178861 d:CurrentFinancialInstruments d:WithinOneYear 2018-05-31 10178861 d:CurrentFinancialInstruments d:WithinOneYear 2017-05-31 10178861 d:ShareCapital 2018-05-31 10178861 d:ShareCapital 2017-05-31 10178861 d:RetainedEarningsAccumulatedLosses 2018-05-31 10178861 d:RetainedEarningsAccumulatedLosses 2017-05-31 10178861 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2018-05-31 10178861 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-05-31 10178861 c:FRS102 2017-06-01 2018-05-31 10178861 c:AuditExempt-NoAccountantsReport 2017-06-01 2018-05-31 10178861 c:FullAccounts 2017-06-01 2018-05-31 10178861 c:PrivateLimitedCompanyLtd 2017-06-01 2018-05-31 iso4217:GBP xbrli:pure

Registered number: 10178861









LONDON DEVELOPMENT CORPORATION (FORTY LANE) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2018
 
LONDON DEVELOPMENT CORPORATION (FORTY LANE) LIMITED
REGISTERED NUMBER: 10178861

BALANCE SHEET
AS AT 31 MAY 2018

2018
2017
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
3
1,252

Cash at bank and in hand
 5 
47
3,172

  
50
4,424

Creditors: amounts falling due within one year
 6 
(29,816)
(27,895)

Net current liabilities
  
 
 
(29,766)
 
 
(23,471)

Total assets less current liabilities
  
(29,766)
(23,471)

  

Net liabilities
  
(29,766)
(23,471)


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
(29,769)
(23,474)

  
(29,766)
(23,471)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 by: 




J C Baker
I J Dollamore
Director
Director


Date: 11 September 2018
Date:11 September 2018

Page 1
 
LONDON DEVELOPMENT CORPORATION (FORTY LANE) LIMITED
REGISTERED NUMBER: 10178861
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2018

The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
LONDON DEVELOPMENT CORPORATION (FORTY LANE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

1.


General information

London Development Corporation (Forty Lane) Limited is a private company limited by shares. The company is incorporated in England and Wales and its registered office address is Aston House, Cornwall Avenue, London, N3 1LF. The company registration number is 10178861.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Going concern

Whilst the company is in a net liabilities position, it retains the support of its shareholders and as such
the director considers it appropriate to prepare the accounts on a going concern basis.

 
2.3

Debtors

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.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Creditors

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.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2017 - 3).

Page 3
 
LONDON DEVELOPMENT CORPORATION (FORTY LANE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

4.


Debtors

2018
2017
£
£


Other debtors
-
1,249

Called up share capital not paid
3
3

3
1,252



5.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
47
3,172

47
3,172



6.


Creditors: Amounts falling due within one year

2018
2017
£
£

Trade creditors
4,080
7,492

Other creditors
24,536
19,803

Accruals and deferred income
1,200
600

29,816
27,895



7.


Financial instruments

2018
2017
£
£

Financial assets


Financial assets measured at fair value through profit or loss
47
3,172




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


Page 4
 
LONDON DEVELOPMENT CORPORATION (FORTY LANE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

8.


Share capital

2018
2017
£
£
Allotted, called up and fully paid



3 (2017 - 3) Ordinary shares of £1.00 each
3
3



9.


Related party transactions

Included in other creditors is the balance of £24,535 (2017: £19,803) due to the directors. This balance is interest free and repayable on demand. 


10.


Controlling party

There is no ultimate controlling party of the company. 

 
Page 5