Registered number
08399387
Leo Properties and Investments Limited
Filleted Accounts
28 February 2019
Leo Properties and Investments Limited
Registered number: 08399387
Balance Sheet
as at 28 February 2019
Notes 2019 2018
£ £
Fixed assets
Tangible assets 3 320,299 697,299
Investments 4 100 100
320,399 697,399
Current assets
Debtors 5 720,000 -
Creditors: amounts falling due within one year 6 (65,291) (39,653)
Net current assets/(liabilities) 654,709 (39,653)
Total assets less current liabilities 975,108 657,746
Creditors: amounts falling due after more than one year 7 (1,214,000) (494,000)
Net (liabilities)/assets (238,892) 163,746
Capital and reserves
Called up share capital 100 100
Profit and loss account (238,992) 163,646
Shareholders' funds (238,892) 163,746
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Samuel Beilin
Director
Approved by the board on 2 October 2024
Leo Properties and Investments Limited
Notes to the Accounts
for the year ended 28 February 2019
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2019 2018
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2018 697,299
Disposals (377,000)
At 28 February 2019 320,299
Depreciation
At 28 February 2019 -
Net book value
At 28 February 2019 320,299
At 28 February 2018 697,299
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 March 2018 100
At 28 February 2019 100
5 Debtors 2019 2018
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 720,000 -
6 Creditors: amounts falling due within one year 2019 2018
£ £
Bank loans and overdrafts 12,500 -
Trade creditors 25,420 -
Corporation tax 27,371 39,653
65,291 39,653
7 Creditors: amounts falling due after one year 2019 2018
£ £
Bank loans 494,000 494,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest 720,000 -
1,214,000 494,000
8 Other information
Leo Properties and Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 14 Century Building
Tower Street
Liverpool
L3 4BJ
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