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REGISTERED NUMBER: 11522676 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

LOSBROS LIMITED

LOSBROS LIMITED (Registered number: 11522676)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOSBROS LIMITED

Company Information
for the Year Ended 31 December 2021







DIRECTOR: O Woodthorpe





SECRETARY:





REGISTERED OFFICE: Flat C
52 Maresfield Gardens
London
NW3 5RX





REGISTERED NUMBER: 11522676 (England and Wales)






LOSBROS LIMITED (Registered number: 11522676)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,250,000 1,250,000

CURRENT ASSETS
Debtors 5 54,406 92,294
Investments 6 48,914 285,451
Cash at bank 41,388 24,494
144,708 402,239
CREDITORS
Amounts falling due within one year 7 5,460 150,474
NET CURRENT ASSETS 139,248 251,765
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,389,248

1,501,765

CREDITORS
Amounts falling due after more than
one year

8

559,514

686,883
NET ASSETS 829,734 814,882

CAPITAL AND RESERVES
Called up share capital 9 100 100
Other reserves 10 875,173 875,173
Fair value reserve 10 (5,350 ) (17,302 )
Retained earnings 10 (40,189 ) (43,089 )
SHAREHOLDERS' FUNDS 829,734 814,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

LOSBROS LIMITED (Registered number: 11522676)

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 July 2022 and were signed by:





O Woodthorpe - Director


LOSBROS LIMITED (Registered number: 11522676)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

LOSBROS 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
The Tax expense for the period comprises current and deferred tax. Tax is recognised in profit and loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred Tax balances are recognised in respect of all timing differences that have originated but not reserved by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted by the balance sheet date.

Debtors
Basic financial assets, including trade and other debtors, 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 receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and Cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

LOSBROS LIMITED (Registered number: 11522676)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective method, less any impairment.

Interest income
Interest Income is recognised in profit and loss using the effective interest method.

Going concern

The director has considered the effect of the Covid-19 outbreak that has continued to spread throughout the world during 2021, on the company's activities. This outbreak is unlikely to cause a significant disruption to the company's activities and the director is confident that the company can continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future.

Investments
The company classifies its investments in financial assets as Current asset investments:
Assets held for trading or expected to be realised within 12 months after the balance sheet date. They comprise:
Listed investments UK, Unlisted investments UK, Listed investment ,Foreign.

Purchases and sales of investments are recognised on the date on which the company commits to purchase or sell the asset. Investments are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the company has transferred substantially all risks and rewards of ownership.

Financial assets are initially recognised at fair value and are subsequently carried at fair value. Realised and unrealised gains and losses arising from changes in the fair value are included in the income statement in the period in which they arise. The fair values of listed financial assets are based on current market prices. If the market for a financial asset is not active, the company measures the asset at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

LOSBROS LIMITED (Registered number: 11522676)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021
and 31 December 2021 1,250,000
NET BOOK VALUE
At 31 December 2021 1,250,000
At 31 December 2020 1,250,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Other debtors 54,406 92,294

6. CURRENT ASSET INVESTMENTS
31.12.21 31.12.20
£    £   
Listed investments 48,914 55,322
Unlisted investments - 230,129
48,914 285,451

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Other creditors 5,460 150,474

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.21 31.12.20
£    £   
Amounts owed to group undertakings 429,268 556,638
Other creditors 130,246 130,245
559,514 686,883

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
100 Ordinary £1` 100 100

LOSBROS LIMITED (Registered number: 11522676)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

10. RESERVES
Fair
Retained Other value
earnings reserves reserve Totals
£    £    £    £   

At 1 January 2021 (43,089 ) 875,173 (17,302 ) 814,782
Profit for the year 14,852 14,852
Transfer to fair value reserve (11,952 ) - 11,952 -
At 31 December 2021 (40,189 ) 875,173 (5,350 ) 829,634

Other reserves are non - distributable reserve.

11. RELATED PARTY DISCLOSURES

At 31 December 2020, Losbros Limited owed Pantelis Los £130,246 ( 2020: £130,245)