|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
Linfit Investments (Yorkshire) Limited |
|
Financial Statements |
|
for the Year Ended 31 May 2019 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
Linfit Investments (Yorkshire) Limited |
|
Financial Statements |
|
for the Year Ended 31 May 2019 |
|
|
|
|
|
Linfit Investments (Yorkshire) Limited (Registered number: 06744194) |
|
Contents of the Financial Statements |
for the year ended 31 May 2019 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Linfit Investments (Yorkshire) Limited |
|
Company Information |
for the year ended 31 May 2019 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
33 George Street |
Wakefield |
West Yorkshire |
WF1 1LX |
Linfit Investments (Yorkshire) Limited (Registered number: 06744194) |
|
Balance Sheet |
31 May 2019 |
|
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year | 7 |
|
|
NET ASSETS |
|
|
Linfit Investments (Yorkshire) Limited (Registered number: 06744194) |
|
Balance Sheet - continued |
31 May 2019 |
|
2019 | 2018 |
Notes | £ | £ | £ | £ |
|
CAPITAL AND RESERVES |
Called up share capital | 9 |
|
|
Retained earnings | 10 |
|
|
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. |
|
|
|
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 on
|
|
|
|
|
|
|
|
Linfit Investments (Yorkshire) Limited (Registered number: 06744194) |
|
Notes to the Financial Statements |
for the year ended 31 May 2019 |
|
|
1. | STATUTORY INFORMATION |
|
Linfit Investments (Yorkshire) Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
The functional and presentation currency for the company is the pound sterling (£). All financial information presented has |
been rounded to the nearest (£), unless otherwise stated. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents the amount receivable, in the ordinary course of business, from the rental of properties excluding value |
added tax. |
|
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. |
|
Fair value has been determined by the directors having taken the appropriate professional advice and based on similar |
properties in the local area. |
|
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
|
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. |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
Linfit Investments (Yorkshire) Limited (Registered number: 06744194) |
|
Notes to the Financial Statements - continued |
for the year ended 31 May 2019 |
|
|
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2018 |
|
Disposals | ( |
) |
Revaluations | 95,000 |
At 31 May 2019 |
|
NET BOOK VALUE |
At 31 May 2019 |
|
At 31 May 2018 |
|
|
The commercial investment properties have been stated at their fair value as determined by the directors. |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Amounts owed by related undertakings | - | 135,000 |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Amounts owed to related undertakings | - | 30,000 |
Tax |
|
|
Social security and other taxes |
|
|
VAT | 1,582 | 1,139 |
Accruals and deferred income |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
|
|
Bank loans - 2-5 years |
|
|
Bank loan > 5 years |
|
|
|
|
Linfit Investments (Yorkshire) Limited (Registered number: 06744194) |
|
Notes to the Financial Statements - continued |
for the year ended 31 May 2019 |
|
|
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2019 | 2018 |
£ | £ |
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loan > 5 years | 1,245,320 | 1,301,320 |
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2019 | 2018 |
£ | £ |
Bank overdrafts |
|
|
Bank loans |
|
|
|
|
|
The bank borrowings are secured by way of a fixed and floating charge over the company and all property and assets, |
present and future. |
|
9. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
|
Ordinary | £1 | 100 | 100 |
|
10. | RESERVES |
|
Included within the retained earnings is an amount of £198,737 resulting from the cumulative fair value gains on the |
investment property and is non-distributable. |
|
11. | CONTINGENT LIABILITIES |
|
The company is subject to an unlimited guarantee for the bank borrowings of Linfit Investments (Wakefield) Limited. As at |
the balance sheet date these borrowings amounted to £1,310,000. |