Leone Properties Limited - Accounts to registrar (filleted) - small 18.2

Leone Properties Limited - Accounts to registrar (filleted) - small 18.2

LEONE PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 07466466 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

LEONE PROPERTIES LIMITED
LEONE PROPERTIES LIMITED (REGISTERED NUMBER: 07466466)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LEONE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2017







DIRECTORS: M A Leone
E Leone





REGISTERED OFFICE: West Cottage
Slaugham Place
Slaugham
West Sussex
RH17 6AL





REGISTERED NUMBER: 07466466 (England and Wales)





ACCOUNTANTS: Hilton Sharp & Clarke Limited
30 New Road
Brighton
East Sussex
BN1 1BN
Page 1
LEONE PROPERTIES LIMITED (REGISTERED NUMBER: 07466466)

BALANCE SHEET
31 DECEMBER 2017

2017 2016
as restated
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,868,481 445,531

CURRENT ASSETS
Stocks 661,723 661,723
Debtors 5 6,567 500
Cash at bank 28,841 14,737
697,131 676,960
CREDITORS
Amounts falling due within one year 6 1,345,709 1,096,088
NET CURRENT LIABILITIES (648,578 ) (419,128 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,219,903
26,403

CREDITORS
Amounts falling due after more than one year 7 1,179,256 -
NET ASSETS 40,647 26,403

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 40,637 26,393
SHAREHOLDERS' FUNDS 40,647 26,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 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 Board of Directors on 5 November 2018 and were signed on its behalf by:





M A Leone - Director


The notes form part of these financial statements

Page 2
LEONE PROPERTIES LIMITED (REGISTERED NUMBER: 07466466)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017


1. STATUTORY INFORMATION

Leone Properties 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is
recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving
items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2017 445,531
Additions 1,422,950
At 31 December 2017 1,868,481
NET BOOK VALUE
At 31 December 2017 1,868,481
At 31 December 2016 445,531

Page 3 continued...
LEONE PROPERTIES LIMITED (REGISTERED NUMBER: 07466466)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
as restated
£    £   
Other debtors 6,567 500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
as restated
£    £   
Other loans - 14,883
Tax 5,836 2,441
Other creditors - 300,215
Directors' current accounts 1,336,874 777,049
Accruals and deferred income 2,999 1,500
1,345,709 1,096,088

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2017 2016
as restated
£    £   
Other loans more 5yrs non-inst 1,179,256 -

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 1,179,256 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
as restated
£    £   
Other loans 1,179,256 -

The other loans are secured on on the property owned by the company.

Page 4