Lingfield Properties (Darlington) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01918753 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Lingfield Properties (Darlington) Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H B Hepker

A B Hepker

SECRETARY:

M Z Hepker

REGISTERED OFFICE:

Bath Lodge Castle

Norton St Philip

Bath

Somerset

BA2 7NH

REGISTERED NUMBER:

01918753 (England and Wales)

ACCOUNTANTS:

King Watkins Ltd

The Island House

Midsomer Norton

Radstock

Somerset

BA3 2DZ

FIXED ASSETS

Tangible assets

3

25,000

-

Investment property

4

973,938

973,938

998,938

973,938

CREDITORS

Amounts falling due within one year

25,000

-

NET CURRENT LIABILITIES

(25,000

)

-

TOTAL ASSETS LESS CURRENT LIABILITIES

973,938

973,938

CREDITORS

Amounts falling due after more than one year

(160,915

)

(160,915

)

PROVISIONS FOR LIABILITIES

5

(900,000

)

(900,000

)

NET LIABILITIES

(86,977

)

(86,977

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

6

840,664

840,664

Retained earnings

(928,641

)

(928,641

)

SHAREHOLDERS' FUNDS

(86,977

)

(86,977

)

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 December 2018 and were signed on its behalf by:

H B Hepker - Director

1.	STATUTORY INFORMATION

Lingfield Properties (Darlington) Ltd 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.

Tangible fixed assets

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

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.

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.	TANGIBLE FIXED ASSETS

Totals

£

COST

Additions

25,000

At 31 March 2018

25,000

NET BOOK VALUE

At 31 March 2018

25,000

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

and 31 March 2018

973,938

NET BOOK VALUE

At 31 March 2018

973,938

At 31 March 2017

973,938

The 2014 valuations were made by the directors, on an open market value for existing use basis.

The historic cost of these properties is £133,274.

Fair value at 31 March 2018 is represented by:

£

Valuation in 2013

723,938

Valuation in 2014

250,000

973,938

5.	PROVISIONS FOR LIABILITIES

The provision is in relation to legal costs following the lost legal action. This has been secured on the land at Darlington.

There is a contingent liability charge held over the land and buildings for £100,000 due to the Legal Services Commission.

6.

RESERVES

Revaluation

reserve

£

At 1 April 2017

and 31 March 2018

840,664

7.	RELATED PARTY DISCLOSURES

At 31 March 2018 the company owed £160,915 (2017: £160,915) to Lingfield Properties Limited. This is included in creditors due in more

than one year.

The company has entered into an agreement with Rugby Estates Ltd, a subsidiary of Lingfield Properties Ltd, for that company to finance the

costs of obtaining planning consent for the company's property.

8.	PARENT UNDERTAKING AND ULTIMATE CONTROLLING PARTY

The directors consider that the parent company is Oakdean Properties Limited, which was previously incorporated in the Isle of Man but has

now transferred registration to Nevis.

The shares of the parent company are held in equal shares by Jennifer Paker, Clare Fulrath and Juliet Carter.