REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
LONDON AND CENTRAL INVESTMENTS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
LONDON AND CENTRAL INVESTMENTS LIMITED |
LONDON AND CENTRAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02672360) |
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 |
LONDON AND CENTRAL INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
55 Loudoun Road |
London |
NW8 0DL |
LONDON AND CENTRAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02672360) |
BALANCE SHEET |
31 MARCH 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Fair value reserve | 13 |
Retained earnings | 13 |
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 AND CENTRAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02672360) |
BALANCE SHEET - continued |
31 MARCH 2023 |
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 AND CENTRAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02672360) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
London and Central Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rent received, net of value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
LONDON AND CENTRAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02672360) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
The investment properties were valued during the year in accordance with RICS appraisal and valuation standards on an open market value basis. The directors consider the above valuations to be valid at 31 March 2021. |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2004 | 3,848,459 |
Valuation in 2006 | 1,839,733 |
Valuation in 2010 | 1,352,931 |
Valuation in 2012 | 4,774,000 |
Valuation in 2013 | 8,850,000 |
Valuation in 2014 | (1,488,742 | ) |
Valuation in 2015 | 6,050,000 |
Valuation in 2017 | 5,450,000 |
Valuation in 2020 | 5,704,770 |
Valuation in 2021 | (21,557 | ) |
Cost | 9,915,406 |
46,275,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
LONDON AND CENTRAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02672360) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.3.23 | 31.3.22 |
£ | £ |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans |
The bank loans are secured by a fixed and floating charge over the assets of the company. |
11. | PROVISIONS FOR LIABILITIES |
31.3.23 | 31.3.22 |
£ | £ |
Deferred tax | 5,627,791 | 5,627,791 |
Deferred |
tax |
£ |
Balance at 1 April 2022 |
Balance at 31 March 2023 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.23 | 31.3.22 |
value: | £ | £ |
Ordinary 'A' | £1 | 40 | 40 |
Ordinary 'B' | £1 | 40 | 40 |
Ordinary 'C' | £1 | 20 | 20 |
100 | 100 |
LONDON AND CENTRAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02672360) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
12. | CALLED UP SHARE CAPITAL - continued |
The Ordinary 'A' Shareholders are entitled to appoint an 'A' Director to represent the 'A' shareholders interest, and vote at general meetings of the company except that they have no powers to appoint 'B' Directors. |
The Ordinary 'B' Shareholders are entitled to appoint a 'B' Director to represent the 'B' shareholders interest, and vote at general meetings of the company except that they have no powers to appoint 'A' Directors. |
The holders of Ordinary 'C' shares have no voting rights and no rights to appoint directors, and may only participate in dividends and capital distributions. |
All of the Ordinary shares rank equally on winding up. |
13. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2022 | 32,904,401 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 March 2023 | 32,603,861 |