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REGISTERED NUMBER: 07306517 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2018

for

Leons Properties Limited

Leons Properties Limited (Registered number: 07306517)






Contents of the Financial Statements
for the Year Ended 28 February 2018




Page

Balance Sheet 1

Notes to the Financial Statements 3


Leons Properties Limited (Registered number: 07306517)

Balance Sheet
28 February 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Investments 4 111 111
Investment property 5 4,347,377 3,779,209
4,347,488 3,779,320

CURRENT ASSETS
Debtors 6 896,933 889,224
Cash at bank 116,600 222,150
1,013,533 1,111,374
CREDITORS
Amounts falling due within one year 7 322,723 108,025
NET CURRENT ASSETS 690,810 1,003,349
TOTAL ASSETS LESS CURRENT LIABILITIES 5,038,298 4,782,669

PROVISIONS FOR LIABILITIES 56,767 56,170
NET ASSETS 4,981,531 4,726,499

CAPITAL AND RESERVES
Called up share capital 9,377 9,377
Share premium 530,735 530,735
Non distributable reserves 8 (371,659 ) (371,659 )
Retained earnings 4,813,078 4,558,046
SHAREHOLDERS' FUNDS 4,981,531 4,726,499

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Leons Properties Limited (Registered number: 07306517)

Balance Sheet - continued
28 February 2018


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 22 October 2018 and were signed on its behalf
by:





Mr R L Douglas - Director


Leons Properties Limited (Registered number: 07306517)

Notes to the Financial Statements
for the Year Ended 28 February 2018

1. STATUTORY INFORMATION

Leons Properties Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address are as below:

Registered number: 07306517

Registered office: Paton Drive
Tollgate Park
Beaconside
Stafford
Staffordshire
ST16 3EF

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable, excluding value added tax.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

This accounting policy represents a departure from the Companies Act 2006, which requires that all properties
be depreciated. The directors consider that this departure from the requirements of the Act is necessary to give
a true and fair view, because these properties are not held for consumption, but for their investment potential
and to depreciate them would not give a true and fair view.

If this departure from the Act had not been made, the profit for the financial year would have been reduced by
depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is
only one of many factors reflected in the annual valuation and the amount which might otherwise have been
shown cannot be separately identified or quantified.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,
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.


Leons Properties Limited (Registered number: 07306517)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's
pension scheme are charged to profit or loss in the period to which they relate.

Employee succession trust
In accordance with UITF abstract 32 'Employee Benefit Trusts and other intermediate payment arrangements'
the Company does not include the assets and liabilities of the Trust on its balance sheet to the extent that it
considers that it will not retain any economic benefit from the assets of the Trust and will not have control of
the rights or other access to those present economic benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2017
and 28 February 2018 211
PROVISIONS
At 1 March 2017
and 28 February 2018 100
NET BOOK VALUE
At 28 February 2018 111
At 28 February 2017 111

Leons Properties Limited (Registered number: 07306517)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2017 3,779,209
Additions 623,289
Disposals (55,121 )
At 28 February 2018 4,347,377
NET BOOK VALUE
At 28 February 2018 4,347,377
At 28 February 2017 3,779,209

Fair value at 28 February 2018 is represented by:

£   
Valuation in 2013 (766,659 )
Valuation in 2014 404,000
Valuation in 2015 (9,000 )
Cost 4,719,036
4,347,377

If investment property had not been revalued it would have been included at the following historical cost:

2018 2017
£    £   
Cost 4,150,868 4,150,868

Investment property was valued on an open market basis on 18 February 2013 by Chivers Commercial, Chartered Surveyors
.

In the opinion of the directors, there has been no material change in market value of the investment property
held.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 8,792 4,625
Amounts owed by related parties 822,339 880,879
VAT 62,560 -
Prepayments 3,242 3,720
896,933 889,224

Leons Properties Limited (Registered number: 07306517)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 181,350 -
Tax 56,094 53,043
Social security and other taxes 1,014 1,046
VAT - 10,543
Other creditors 11,400 3,850
Amounts owed to related parties 25,000 -
Accruals and deferred income 47,865 39,543
322,723 108,025

8. RESERVES
Non
distributable
reserves
£   
At 1 March 2017
and 28 February 2018 (371,659 )

9. ULTIMATE CONTROLLING PARTY

The Company is controlled by the Trustees of the Leons Properties Ltd Employee Succession Trust.