Silverfin false 31/10/2022 01/11/2021 31/10/2022 Sandra Levine 07/10/2014 G Levine 07/10/2014 17 August 2023 The principal activity of the company is that of property investment. 09251791 2022-10-31 09251791 bus:Director1 2022-10-31 09251791 bus:Director2 2022-10-31 09251791 2021-10-31 09251791 core:CurrentFinancialInstruments 2022-10-31 09251791 core:CurrentFinancialInstruments 2021-10-31 09251791 core:Non-currentFinancialInstruments 2022-10-31 09251791 core:Non-currentFinancialInstruments 2021-10-31 09251791 core:ShareCapital 2022-10-31 09251791 core:ShareCapital 2021-10-31 09251791 core:FurtherSpecificReserve1ComponentTotalEquity 2022-10-31 09251791 core:FurtherSpecificReserve1ComponentTotalEquity 2021-10-31 09251791 core:RetainedEarningsAccumulatedLosses 2022-10-31 09251791 core:RetainedEarningsAccumulatedLosses 2021-10-31 09251791 core:OtherPropertyPlantEquipment 2021-10-31 09251791 core:OtherPropertyPlantEquipment 2022-10-31 09251791 bus:OrdinaryShareClass1 2022-10-31 09251791 2021-11-01 2022-10-31 09251791 bus:FullAccounts 2021-11-01 2022-10-31 09251791 bus:SmallEntities 2021-11-01 2022-10-31 09251791 bus:AuditExemptWithAccountantsReport 2021-11-01 2022-10-31 09251791 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 09251791 bus:Director1 2021-11-01 2022-10-31 09251791 bus:Director2 2021-11-01 2022-10-31 09251791 core:OtherPropertyPlantEquipment 2021-11-01 2022-10-31 09251791 2020-11-01 2021-10-31 09251791 core:Non-currentFinancialInstruments 2021-11-01 2022-10-31 09251791 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 09251791 bus:OrdinaryShareClass1 2020-11-01 2021-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09251791 (England and Wales)

LONDON PROPERTY DESIGN LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2022
Pages for filing with the registrar

LONDON PROPERTY DESIGN LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2022

Contents

LONDON PROPERTY DESIGN LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2022
LONDON PROPERTY DESIGN LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 2,399 826
Investment property 4 825,000 800,000
827,399 800,826
Current assets
Cash at bank and in hand 5 23,375 9,188
23,375 9,188
Creditors: amounts falling due within one year 6 ( 10,672) ( 6,236)
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 ( 660,819) ( 668,290)
Net assets 179,283 135,488
Capital and reserves
Called-up share capital 8 100 100
Fair value reserve 51,191 26,191
Profit and loss account 127,992 109,197
Total shareholder's funds 179,283 135,488

For the financial year ending 31 October 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of London Property Design Limited (registered number: 09251791) were approved and authorised for issue by the Director. They were signed on its behalf by:

G Levine
Director

17 August 2023

LONDON PROPERTY DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2022
LONDON PROPERTY DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2022
1. Accounting policies

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.

General information and basis of accounting

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Financial instruments

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.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2021 3,940 3,940
Additions 2,593 2,593
At 31 October 2022 6,533 6,533
Accumulated depreciation
At 01 November 2021 3,114 3,114
Charge for the financial year 1,020 1,020
At 31 October 2022 4,134 4,134
Net book value
At 31 October 2022 2,399 2,399
At 31 October 2021 826 826

4. Investment property

Investment property
£
Valuation
As at 01 November 2021 800,000
Fair value movement 25,000
As at 31 October 2022 825,000

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

5. Cash and cash equivalents

2022 2021
£ £
Cash at bank and in hand 23,375 9,188

6. Creditors: amounts falling due within one year

2022 2021
£ £
Taxation and social security 4,326 3,380
Other creditors 6,346 2,856
10,672 6,236

7. Creditors: amounts falling due after more than one year

2022 2021
£ £
Other creditors 660,819 668,290

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

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