London Capital Corp Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05431016 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2014

FOR

LONDON CAPITAL CORP LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A H J Binnie

A J D Seddon

SECRETARY:

A H J Binnie

REGISTERED OFFICE:

1 Bramley Business Centre

Station Road

Bramley

Surrey

GU5 0AZ

REGISTERED NUMBER:

05431016 (England and Wales)

FIXED ASSETS

Tangible assets

2

17,311

21,592

Investments

3

401,441

261,306

418,752

282,898

CURRENT ASSETS

Stocks

76,587

-

Debtors

112,587

132,709

Cash at bank and in hand

4,399

24,840

193,573

157,549

CREDITORS

Amounts falling due within one year

337,273

58,095

NET CURRENT (LIABILITIES)/ASSETS

(143,700

)

99,454

TOTAL ASSETS LESS CURRENT LIABILITIES

275,052

382,352

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

274,952

382,252

SHAREHOLDERS' FUNDS

275,052

382,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 28 January 2015 and were signed on its behalf by:

A H J Binnie - Director

A J D Seddon - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis, which the directors consider to be

appropriate, as they have agreed not to withdraw their loan accounts and to provide the necessary finance to

enable the company to meet its liabilities as they fall due.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Preparation of consolidated financial statements

The financial statements contain information about London Capital Corp Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related

Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents sales of property development consultancy services performed during the year.

Tangible fixed assets

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

Office fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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

At 1 May 2013

44,587

Additions

8,114

At 30 April 2014

52,701

DEPRECIATION

At 1 May 2013

22,995

Charge for year

12,395

At 30 April 2014

35,390

NET BOOK VALUE

At 30 April 2014

17,311

At 30 April 2013

21,592

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2013

1,306

Additions

235

Disposals

(100

)

At 30 April 2014

1,441

NET BOOK VALUE

At 30 April 2014

1,441

At 30 April 2013

1,306

The company's investments at the balance sheet date in the share capital of companies include the following:

Subsidiaries

C P Dealco Limited

Nature of business: Property developers

%

Class of shares:

holding

Ordinary A shares

100.00

Ordinary B shares

100.00

31.12.13

31.12.12

£

£

Aggregate capital and reserves

1,000

1,000

CP Dealco Limited was set up as an SPV and the year end chosen was more in line with the cycle of the

development being undertaken.

Design Capital Corp Limited

Nature of business: Architects

%

Class of shares:

holding

Ordinary

67.00

2014

2013

£

£

Aggregate capital and reserves

(11,891

)

(43,480

)

Profit/(loss) for the year

31,589

(43,600

)

Associated companies

One Ennismore Limited

Nature of business: Property developers

%

Class of shares:

holding

Ordinary

50.00

31.12.13

31.12.12

£

£

Aggregate capital and reserves

(682,922

)

(323,376

)

Loss for the year

(359,546

)

(324,536

)

One Ennismore Limited was set up as an SPV and the year end chosen was more in line with the cycle of the

development being undertaken.

A further charge over shares in One Ennismore Limited was created on 14 February 2014 by Jordan International

Bank Plc as continuing security for the payment of One Ennismore Limited secured liabilities.

A charge over shares in One Ennismore Limited was created on 22 November 2011 by Jordan International Bank

Plc as continuing security for the payment of One Ennismore Limited secured liabilities.

Creswell Gardens Limited

Nature of business: Property developers

%

Class of shares:

holding

Ordinary shares

40.50

30.4.14

30.4.13

£

£

Aggregate capital and reserves

100

491

Loss for the year

(391

)

(1,241

)

Loans

£

At 1 May 2013

260,000

Additions

140,000

At 30 April 2014

400,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 30 April 2014, A J D Seddon had loaned the company £8,336 (2013 - £5,309). There is no interest due on

the loan and it is repayable upon demand.

As at 30 April 2014, A H J Binnie had loaned the company £5,866 (2013 - £3,516). There is no interest due on

the loan and it is repayable upon demand.

6.	ULTIMATE CONTROLLING PARTY