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REGISTERED NUMBER: 07780877 (England and Wales)















Financial Statements for the Year Ended 31 December 2021

for

Lankaster Gardens Ltd

Lankaster Gardens Ltd (Registered number: 07780877)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Lankaster Gardens Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTOR: O Avara





REGISTERED OFFICE: 77 Colney Hatch Lane
Muswell Hill
London
N10 1LR





REGISTERED NUMBER: 07780877 (England and Wales)

Lankaster Gardens Ltd (Registered number: 07780877)

Abridged Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 405,675 405,675

CURRENT ASSETS
Debtors 664,074 664,074
Cash at bank 544 -
664,618 664,074
CREDITORS
Amounts falling due within one year 110,061 110,536
NET CURRENT ASSETS 554,557 553,538
TOTAL ASSETS LESS CURRENT
LIABILITIES

960,232

959,213

CREDITORS
Amounts falling due after more than one
year

(187,086

)

(196,884

)

PROVISIONS FOR LIABILITIES (50,107 ) (50,107 )
NET ASSETS 723,039 712,222

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 6 195,889 195,889
Retained earnings 527,050 516,233
SHAREHOLDERS' FUNDS 723,039 712,222

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 his 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.

Lankaster Gardens Ltd (Registered number: 07780877)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 1 August 2022 and were signed by:





O Avara - Director


Lankaster Gardens Ltd (Registered number: 07780877)

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

1. STATUTORY INFORMATION

Lankaster Gardens 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 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 as modified by the revaluation of certain assets.

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 Statement of Income and Retained Earnings, 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. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021
and 31 December 2021 405,675
NET BOOK VALUE
At 31 December 2021 405,675
At 31 December 2020 405,675

Lankaster Gardens Ltd (Registered number: 07780877)

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

4. INVESTMENT PROPERTY - continued

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2014 144,861
Valuation in 2015 55,000
Valuation in 2016 45,000
Cost 160,814
405,675

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

31.12.21 31.12.20
£    £   
Cost 160,814 160,814

Investment properties were valued on an open market basis on 31 December 2021 by the director .

5. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Bank overdraft - 863
Bank loans 196,890 206,171
196,890 207,034

The bank loan is secured by way of the legal charge over the leasehold property known as Unit 5, 1 Martha Street, London E1 2PX and a personal guarantee by the director.

6. RESERVES
Fair
value
reserve
£   
At 1 January 2021
and 31 December 2021 195,889

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21 31.12.20
£    £   
O Avara
Balance outstanding at start of year (23,410 ) (20,260 )
Amounts repaid - (3,150 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (23,410 ) (23,410 )

Lankaster Gardens Ltd (Registered number: 07780877)

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

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £23,410 (2020: £23,410) to Mr Oner Avara, the director in respect of the advances made to the company. No interest was accruing on the outstanding amount and no repayment terms have been agreed as at the balance sheet date.

At the balance sheet date the company was owed £658,614 (2020: £658,614) from its associate companies and it is included within debtors within these financial statements. The balance due from these companies at the balance sheet date was as follows:

My Next Match Limited £558,660 (2020: £543,660)
All Done Design Limited £93,421 (2020: £108,421)
Left Hook Limited £5,983 (2020: £5,983)
My Next Match Trading Limited £550 (2020: £350)

There are no fixed repayment terms on the above loans.

During the year the company received rent of £25,020 (2020: £27,490) from Left Hook Limited.

9. ULTIMATE CONTROLLING PARTY

The controlling party is O Avara.