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Unaudited Financial Statements for the Year Ended 30 June 2019 |
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BURLINGTON LAND LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2019 |
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for |
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BURLINGTON LAND LIMITED |
BURLINGTON LAND LIMITED (Registered number: 04565739) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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BURLINGTON LAND LIMITED |
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Company Information |
for the Year Ended 30 June 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Ground Floor |
1 Baker's Row |
London |
EC1R 3DB |
BURLINGTON LAND LIMITED (Registered number: 04565739) |
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Balance Sheet |
30 June 2019 |
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30.6.19 | 30.6.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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ACCRUALS AND DEFERRED INCOME | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings |
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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 |
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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. |
BURLINGTON LAND LIMITED (Registered number: 04565739) |
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Balance Sheet - continued |
30 June 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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BURLINGTON LAND LIMITED (Registered number: 04565739) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2019 |
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1. | STATUTORY INFORMATION |
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BURLINGTON LAND LIMITED is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services, excluding Value Added Tax. |
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Tangible fixed assets |
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Fixtures & fittings | - |
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Office Equipment | - |
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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. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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BURLINGTON LAND LIMITED (Registered number: 04565739) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures | Office |
& fittings | Equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2018 |
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Additions |
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At 30 June 2019 |
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DEPRECIATION |
At 1 July 2018 |
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Charge for year |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 July 2018 |
and 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2018 |
and 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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BURLINGTON LAND LIMITED (Registered number: 04565739) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2019 |
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7. | DEBTORS |
30.6.19 | 30.6.18 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Directors' loan account | 23,035 | 23,083 |
Tax |
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Prepayments and accrued income |
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Amounts falling due after more than one year: |
Trade debtors | 692,050 | 687,993 |
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Aggregate amounts |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Trade creditors |
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Other creditors | 147,993 | 206,709 |
Corporation tax |
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VAT | 8,876 | 293 |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.19 | 30.6.18 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 168,750 | 168,750 |
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10. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £57,000 were paid to the directors . |
BURLINGTON LAND LIMITED (Registered number: 04565739) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2019 |
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10. | RELATED PARTY DISCLOSURES - continued |
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The company holds an investment of £349 in the equity share capital of SCI MLR, a company |
incorporated in France. The remaining equity shares are held by Mr D Itkin, a director and shareholder |
of Burlington Land Ltd. |
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In earlier years, the company advanced a loan of £490,416 to SCI MLR. The current balance |
outstanding is £490,416 (2018 - £490,416). The term of the loan is 20 years and the interest rate is |
3.5% per annum. No interest was received in this year or the previous year. Total interest receivable at |
the balance sheet date amounted to £171,893 (2018 - £154,748) and will be reflected in the accounts |
when received. |
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The company holds an investment of £427 in the equity share capital of SCI Vendome, a company |
incorporated in France. The directors of Burlington Land Limited have a majority interest in the |
remaining equity shares of SCI Vendome. The company has previously granted 15 year loans to SCI |
Vendome, of which £197,577 was outstanding at the beginning of the year. A further £4,057 was |
granted in the year which represented a loan of 20 years at 3.5% interest per annum. Total interest |
receivable at the balance sheet date amounted to £42,077 (2018 - £23,083) and will be reflected in the |
accounts when received. |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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