Company No:
Contents
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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827,399 | 800,826 | |||
Current assets | ||||
Cash at bank and in hand | 5 |
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23,375 | 9,188 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 12,703 | 2,952 | ||
Total assets less current liabilities | 840,102 | 803,778 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Fair value reserve |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of London Property Design Limited (registered number:
G Levine
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
London Property Design Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Wellgarth Road, London NW11 7HP, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
The fair value is determined annually by the directors, on an open market value for existing use basis.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 November 2021 |
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Additions |
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At 31 October 2022 |
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Accumulated depreciation | |||
At 01 November 2021 |
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Charge for the financial year |
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At 31 October 2022 |
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Net book value | |||
At 31 October 2022 |
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At 31 October 2021 |
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Investment property | |
£ | |
Valuation | |
As at 01 November 2021 |
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Fair value movement | 25,000 |
As at 31 October 2022 |
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Valuation
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Historic cost
If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:
2022 | 2021 | ||
£ | £ | ||
Historic cost | 773,810 | 773,810 |
2022 | 2021 | ||
£ | £ | ||
Cash at bank and in hand |
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2022 | 2021 | ||
£ | £ | ||
Taxation and social security |
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Other creditors |
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2022 | 2021 | ||
£ | £ | ||
Other creditors |
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2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
2022 | 2021 | ||
£ | £ | ||
Sums owed to the directors at the year end by the company. The loans are interest-free and unsecured with no fixed repayment date. | 658,819 | 668,290 |