REGISTERED NUMBER: |
LONDON COUNTY GROUP LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5TH APRIL 2022 |
REGISTERED NUMBER: |
LONDON COUNTY GROUP LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5TH APRIL 2022 |
LONDON COUNTY GROUP LIMITED (REGISTERED NUMBER: 00746900) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5TH APRIL 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
LONDON COUNTY GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 5TH APRIL 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Second Floor |
34 Lime Street |
London |
EC3M 7AT |
LONDON COUNTY GROUP LIMITED (REGISTERED NUMBER: 00746900) |
BALANCE SHEET |
5TH APRIL 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
LONDON COUNTY GROUP LIMITED (REGISTERED NUMBER: 00746900) |
BALANCE SHEET - continued |
5TH APRIL 2022 |
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 and authorised for issue on |
LONDON COUNTY GROUP LIMITED (REGISTERED NUMBER: 00746900) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5TH APRIL 2022 |
1. | STATUTORY INFORMATION |
London County Group Limited is a |
The significant accounting policies applied in the presentation of the financial statements are set out below and have been consistently applied to all years unless otherwise stated. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Trade and other debtors/creditors |
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Subsequent to initial recognition, they are measured at transaction price less any impairment losses. Trade and other creditors are recognised at transaction price plus attributable transaction costs. |
Cash and cash equivalents |
Cash and cash equivalents comprise of cash balances and deposits. |
Turnover |
Turnover represents rental income receivable during the year. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
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. |
LONDON COUNTY GROUP LIMITED (REGISTERED NUMBER: 00746900) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5TH APRIL 2022 |
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. |
Investment properties |
Investment properties are shown at their fair value and revalued annually. Any gains or losses are recognised in the statement of Profit or Loss. Deferred taxation is provided on these gains at the rate set on the balance sheet date. |
In accordance with the FRS 102 no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the director considers that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The director considers that this policy results in the financial statements giving a true and fair view. |
Listed investments |
Listed investments are valued at their market value at the balance sheet date and any changes in their fair value between the previous year end or acquisition, as applicable are recognised in the statement of profit or loss. |
Dividend income is accounted for when received or at the point when the Company is entitled to receive the dividend. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
LONDON COUNTY GROUP LIMITED (REGISTERED NUMBER: 00746900) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5TH APRIL 2022 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 6th April 2021 |
and 5th April 2022 |
DEPRECIATION |
At 6th April 2021 |
Charge for year |
At 5th April 2022 |
NET BOOK VALUE |
At 5th April 2022 |
At 5th April 2021 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 6th April 2021 |
Revaluations |
At 5th April 2022 |
NET BOOK VALUE |
At 5th April 2022 |
At 5th April 2021 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6th April 2021 |
Additions |
At 5th April 2022 |
NET BOOK VALUE |
At 5th April 2022 |
At 5th April 2021 |
LONDON COUNTY GROUP LIMITED (REGISTERED NUMBER: 00746900) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5TH APRIL 2022 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 5th April 2022 is represented by: |
£ |
Valuation in 2002 | 1,763,836 |
Valuation in 2003 | 221,454 |
Valuation in 2010 | 250,000 |
Valuation in 2017 | 416,791 |
Valuation in 2020 | (100,127 | ) |
Cost | 1,347,188 |
3,899,142 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |