James Laurence Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04105682 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

JAMES LAURENCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N A C Laurence

J D Fawcett

SECRETARY:

N A C Laurence

REGISTERED OFFICE:

10 London Mews

Paddington

London

W2 1HY

REGISTERED NUMBER:

04105682 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

London

W21HY

FIXED ASSETS

Investment property

4

2,548,500

3,540,000

CURRENT ASSETS

Debtors

5

1,378,309

1,417,897

Cash at bank

151,817

7,080

1,530,126

1,424,977

CREDITORS

Amounts falling due within one year

6

96,109

37,240

NET CURRENT ASSETS

1,434,017

1,387,737

TOTAL ASSETS LESS CURRENT LIABILITIES

3,982,517

4,927,737

CREDITORS

Amounts falling due after more than one year

7

(1,091,159

)

(1,883,349

)

PROVISIONS FOR LIABILITIES

(197,706

)

(280,611

)

NET ASSETS

2,693,652

2,763,777

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

2,693,452

2,763,577

SHAREHOLDERS' FUNDS

2,693,652

2,763,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 22 November 2018 and were signed on its behalf by:

J D Fawcett - Director

N A C Laurence - Director

1.	STATUTORY INFORMATION

James Laurence 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable on properties.

Investment property

In accordance with FRS102, Section 1A, the company's properties are held for long-term investment and are included in the

Balance Sheet at their open market values. The surplus or deficit on annual revaluation of such properties are transferred to

the profit and loss account.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and

liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement

constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts

discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective

interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

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 (2017 - 2 ).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

3,540,000

Disposals

(975,000

)

Revaluations

(16,500

)

At 31 March 2018

2,548,500

NET BOOK VALUE

At 31 March 2018

2,548,500

At 31 March 2017

3,540,000

Fair value at 31 March 2018 is represented by:

£

Valuation in 2007

3,517,263

Valuation in 2008

(1,407,773

)

Valuation in 2010

1,077,450

Valuation in 2011

(93,863

)

Valuation in 2012

45,000

Valuation in 2013

(311,287

)

Valuation in 2014

(40,700

)

Valuation in 2015

(1,050,095

)

Valuation in 2017

340,000

Valuation in 2018

(556,572

)

Cost

1,029,077

2,548,500

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other debtors

1,378,309

1,417,897

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

(29,888

)

7,030

Taxation and social security

102,205

-

Other creditors

23,792

30,210

96,109

37,240

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans

1,091,159

1,883,349

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,091,159

1,883,349

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank loans

1,091,159

1,883,349

Newcastle Building Society hold legal charges over the various properties held by the company.

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

200

Ordinary

£1

200

200

10.	RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £614,804 (2017 £657,486) by Thameway Ltd, £18,130 (2017 £18,130) by

JNR Properties LLP, £10,000 (2017 £10,000) by JIN Properties LLP, £689,409 (2017 £689,409) by Metro Lettings and

Management LLP, £17,872 (2017 £17,872) by Reydene Ltd, which are included in other debtors. The directors of the

company have interests in these companies and LLPs.

At the balance sheet date the company owed £5,370 (2017 £5,370) to Hanover Square LLP which is included in other

creditors.The directors of the company have an interest in this LLP.