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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
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LANDLORDINVEST LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
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FOR |
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LANDLORDINVEST LIMITED |
LANDLORDINVEST LIMITED (REGISTERED NUMBER: 09245725) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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LANDLORDINVEST LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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No. 1 Royal Exchange |
London |
EC3V 3DG |
LANDLORDINVEST LIMITED (REGISTERED NUMBER: 09245725) |
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STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2017 |
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31.12.17 | 31.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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 |
(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. |
LANDLORDINVEST LIMITED (REGISTERED NUMBER: 09245725) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2017 |
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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
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LANDLORDINVEST LIMITED (REGISTERED NUMBER: 09245725) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Landlordinvest Limited is a
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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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ACCOUNTING CONVENTION |
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard |
applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as |
applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS |
102 have been applied other than where additional disclosure is required to show a true and fair view. |
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The financial statements are prepared in sterling, which is the functional currency of the company. Monetary |
amounts in these financial statements are rounded to the nearest £. |
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The financial statements have been prepared under the historical cost convention. The principal accounting policies |
adopted are set out below. |
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These financial statements for the Period ended 31 December 2017 are the first financial statements of |
Landlordinvest Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK |
and Republic of Ireland. The date of transition to FRS 102 was 1 January 2016. The reported financial position and |
financial performance for the previous period are not affected by the transition to FRS 102. |
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TURNOVER |
Turnover represents fees receivable from borrowers for the arranging of short term loans. |
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INTANGIBLE ASSETS |
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost |
less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business |
combinations are recognised separately from goodwill at the acquisition date if the fair value can be measured |
reliably. |
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Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful |
lives on the following bases: |
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Website development costs - Straight line over 10 years |
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TANGIBLE FIXED ASSETS |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of |
depreciation and any impairment losses. |
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Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful |
lives on the following bases: |
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Computer equipment - Straight line over 3 years |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the |
carrying value of the asset, and is credited or charged to profit or loss. |
LANDLORDINVEST LIMITED (REGISTERED NUMBER: 09245725) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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FINANCIAL INSTRUMENTS |
The company has elected to apply the provisions of Section 11 "Basic financial Instruments" to all of its financial |
instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the |
contractual provisions of the instrument. |
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Basic financial assets |
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are |
measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the |
effective interest method, less any provision for impairment. |
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Basic financial liabilities |
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other |
loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs |
using the effective interest method. |
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TAXATION |
The tax expense represents the sum of the tax currently payable and deferred tax. |
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Current tax |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in |
the profit and loss account because it excludes items of income or expense that are taxable or deductible in other |
years and it further excludes items that are never taxable or deductible. The company's liability for current tax is |
calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
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DEFERRED TAX |
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised 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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The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is |
no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the |
asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items |
charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. |
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RETIREMENT BENEFITS |
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. |
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IMPAIRMENT OF FIXED ASSETS |
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to |
determine whether there is any indication that those assets have suffered an impairment loss. If any such indication |
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if |
any). |
LANDLORDINVEST LIMITED (REGISTERED NUMBER: 09245725) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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PROVISIONS |
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, |
it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the |
amount of the obligation. |
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The amount recognised as a provision is the best estimate of the consideration required to settle the present |
obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where |
the effect of the time value of money is material, the amount expected to be required to settle the obligation is |
recognised at present value. When a provision is measured at present value, the unwinding of the discount is |
recognised as a finance cost in profit or loss in the period in which it arises. |
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EMPLOYEE BENEFITS |
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are |
required to be recognised as part of the cost of stock or fixed assets. |
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The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
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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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4. | INTANGIBLE FIXED ASSETS |
Website |
development |
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COST |
At 1 January 2017 |
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Additions |
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At 31 December 2017 |
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AMORTISATION |
At 1 January 2017 |
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Amortisation for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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LANDLORDINVEST LIMITED (REGISTERED NUMBER: 09245725) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
Additions |
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At 31 December 2017 |
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DEPRECIATION |
Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Social security and other taxes |
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Net Wages | 1,300 | - |
Shareholders Loan | - | 4,415 |
Accrued expenses |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.17 | 31.12.16 |
value: | £ | £ |
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Ordinary A | £1 | 100 | 100 |
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Ordinary B | £0.01 | 105 | 14 |
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Ordinary C | £0.01 | 712 | 95 |
917 | 209 |
LANDLORDINVEST LIMITED (REGISTERED NUMBER: 09245725) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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8. | DIRECTORS' TRANSACTIONS |
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The following advances and credits to a director subsisted during the years ended 31 December 2017 and |
31 December 2016: |
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31.12.17 | 31.12.16 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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