Registration number:
Loftus Investment Limited
for the Year Ended 31 March 2019
Ashcombe Court
Woolsack Way
Godalming
Surrey
GU7 1LQ
Loftus Investment Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Loftus Investment Limited
Company Information
Directors |
M A Loftus Mrs S L Loftus |
Company secretary |
M A Loftus |
Registered office |
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Accountants |
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Page 1 |
Loftus Investment Limited
(Registration number: 01251202)
Balance Sheet as at 31 March 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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- |
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Investment property |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Company secretary and director
Page 2 |
Loftus Investment Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales. The address of the registered office can be found on the Company Information page.
The principal place of business is:
Cleveland House
Old Blackgang Road
Niton Undercliff
Isle of Wight
PO38 2NP
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover represents net rentals charged to customers at invoiced amounts less value added tax. Turnover is recognised in the period in which the rentals and utilities relate to.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
33.3% on cost |
Page 3 |
Loftus Investment Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Investment property
Borrowings
All borrowing costs are recognised in the statement of income and retained earnings in the year in which they are incurred.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Computer equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 March 2019 |
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Depreciation |
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Charge for the year |
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At 31 March 2019 |
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Carrying amount |
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At 31 March 2019 |
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Investment properties |
2019 |
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At 1 April |
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There has been no valuation of investment property by an independent valuer.
Page 4 |
Loftus Investment Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Creditors |
Note |
2019 |
2018 |
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Due within one year |
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Bank loans and overdrafts |
- |
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Trade creditors |
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- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
- |
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Accruals and deferred income |
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- |
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Other creditors |
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- |
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Director current account |
750,154 |
- |
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Corporation tax control |
5,350 |
8,046 |
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Note |
2019 |
2018 |
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Due after one year |
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Loans and borrowings |
- |
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The bank loan is secured by fixed charges over the Company's freehold property, first fixed charges over book and other debts, chattels, goodwill and uncalled capital, both present and future; and a first floating charge over all assets undertaking both present and future dated 24 May 2010.
Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Page 5 |
Loftus Investment Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Loans and borrowings |
2019 |
2018 |
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Non-current loans and borrowings |
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Bank borrowings |
- |
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2019 |
2018 |
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Current loans and borrowings |
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Bank borrowings |
- |
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Page 6 |