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REGISTERED NUMBER: 02672360















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: D I Winton
I Uziyel
J H Winton
Mrs F Uziyel
Mrs F C Winton





SECRETARY: Mrs F C Winton





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 02672360





ACCOUNTANTS: MGR SD Limited
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 4 129 172
Investment property 5 46,275,000 46,275,000
46,275,129 46,275,172

CURRENT ASSETS
Debtors 6 1,041,579 1,067,343
Cash at bank 1,227,080 1,288,523
2,268,659 2,355,866
CREDITORS
Amounts falling due within one year 7 (812,036 ) (598,746 )
NET CURRENT ASSETS 1,456,623 1,757,120
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,731,752

48,032,292

CREDITORS
Amounts falling due after more than one
year

8

(9,500,000

)

(9,500,000

)

PROVISIONS FOR LIABILITIES 11 (5,627,791 ) (5,627,791 )
NET ASSETS 32,603,961 32,904,501

CAPITAL AND RESERVES
Called up share capital 12 100 100
Fair value reserve 13 30,744,411 30,744,411
Retained earnings 13 1,859,450 2,159,990
SHAREHOLDERS' FUNDS 32,603,961 32,904,501

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.

LONDON AND CENTRAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02672360)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:




D I Winton - Director



I Uziyel - Director


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 private company, limited by shares , registered in Not specified/Other. 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.

Turnover
Turnover represents rent received, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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 (2022 - 4 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 6,035
DEPRECIATION
At 1 April 2022 5,863
Charge for year 43
At 31 March 2023 5,906
NET BOOK VALUE
At 31 March 2023 129
At 31 March 2022 172

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 46,275,000
NET BOOK VALUE
At 31 March 2023 46,275,000
At 31 March 2022 46,275,000

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 1,009,903 1,035,667
Other debtors 31,676 31,676
1,041,579 1,067,343

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors - 20,674
Taxation and social security 387,505 326,033
Other creditors 424,531 252,039
812,036 598,746

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) 9,500,000 9,500,000

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 9,500,000 9,500,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 9,500,000 9,500,000

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 5,627,791
Balance at 31 March 2023 5,627,791

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
40 Ordinary 'A' £1 40 40
40 Ordinary 'B' £1 40 40
20 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 2,159,990 30,744,411 32,904,401
Profit for the year 949,460 949,460
Dividends (1,250,000 ) (1,250,000 )
At 31 March 2023 1,859,450 30,744,411 32,603,861