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REGISTERED NUMBER: 11944375 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

LC Mellon Development Limited

LC Mellon Development Limited (Registered number: 11944375)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LC Mellon Development Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M J Burton
E G Buttleman
LCH Property Management Limited
M J Lumanto
SR Collins





REGISTERED OFFICE: The Barn
Woods Farm
Grange Road
Pleshey
CM3 1HZ





REGISTERED NUMBER: 11944375 (England and Wales)





ACCOUNTANTS: Barnes Wedge Limited
Chartered Accountants
Handel House
Roselawn Fields
Chelmsford
Essex
CM1 7GB

LC Mellon Development Limited (Registered number: 11944375)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Stocks 1,386,006 19,624,612
Debtors 4 5,762 414,145
Cash at bank 598,104 12,181
1,989,872 20,050,938
CREDITORS
Amounts falling due within one year 5 1,728,342 7,290,752
NET CURRENT ASSETS 261,530 12,760,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,530

12,760,186

CREDITORS
Amounts falling due after more than one
year

6

-

14,457,568
NET ASSETS/(LIABILITIES) 261,530 (1,697,382 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 260,530 (1,698,382 )
SHAREHOLDERS' FUNDS 261,530 (1,697,382 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

LC Mellon Development Limited (Registered number: 11944375)

Balance Sheet - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:




LCH Property Management Limited - Director



E G Buttleman - Director


LC Mellon Development Limited (Registered number: 11944375)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

LC Mellon Development 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern
At the balance sheet date, the company's liabilities exceeded its assets by £1,697,382 (2021: £1,625,119. The company's investors have agreed to continue to support the company for a period of at least twelve months from the approval of these financial statements and as such the financial statements have been prepared on a going concern basis.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Stocks and work in progress
Work in progress is valued at the lower of cost and net realisable value. Cost represents all purchases and other direct costs incurred on the company's development project to date.

Financial instruments
The company only enters into basic financial instrument 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 related parties and investments in ordinary shares.

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.

LC Mellon Development Limited (Registered number: 11944375)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is carried as part of work in progress and then written off in the year in which relevant properties are sold.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 2 ).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 4,804 4,804
Other debtors 958 409,341
5,762 414,145

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 81,590 231,398
Taxation and social security 61,135 -
Other creditors 1,585,617 7,059,354
1,728,342 7,290,752

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 14,457,568

7. RELATED PARTY DISCLOSURES

During the year management fees totalling £Nil (2022: £65,274) were recovered from a business under the ultimate control of LCH Property Management Limited nothing was payable at the beginning or end of the year.

At the balance sheet date £1,581,356 was payable to the holding company (2022: £7,030,770).

£761 was payable to (2022; £Nil) another group company.

LC Mellon Development Limited (Registered number: 11944375)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. ULTIMATE CONTROLLING PARTY

The company is wholly owned by LC Mellon Limited, The Barn, Grange Road, Pleshey, Chelmsford, CM3 1HZ, a company registered in the UK number 11266693. The directors do not consider there to be an ultimate controlling party.