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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2018 |
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for |
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Lloyd's Property Southwest Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2018 |
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for |
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Lloyd's Property Southwest Limited |
Lloyd's Property Southwest Limited (Registered number: 01253169) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2018 |
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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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Lloyd's Property Southwest Limited |
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Company Information |
for the Year Ended 30 April 2018 |
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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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Lloyd's Property Southwest Limited (Registered number: 01253169) |
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Balance Sheet |
30 April 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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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. |
Lloyd's Property Southwest Limited (Registered number: 01253169) |
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Balance Sheet - continued |
30 April 2018 |
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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
by: |
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Lloyd's Property Southwest Limited (Registered number: 01253169) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2018 |
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1. | STATUTORY INFORMATION |
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Lloyd's Property Southwest 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements are the entity's first under FRS 102 Section 1A. Details of the transition to FRS 102 |
are disclosed in note 12. |
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Turnover |
Turnover represents rental income receivable and other net invoiced sales of goods and services attributable to |
those rentals, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment |
losses. Cost includes costs directly attributable to making the asset capable of operating as intended by |
management. |
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Investment property |
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation |
is provided on these gains at the rate expected to apply when the property is sold. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Lloyd's Property Southwest Limited (Registered number: 01253169) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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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. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2017 |
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Additions |
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At 30 April 2018 |
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DEPRECIATION |
At 1 May 2017 |
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Charge for year |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2017 |
and 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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Fair value at 30 April 2018 is represented by: |
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£ |
Valuation in 2011 | 1,741,287 |
Valuation in 2013 | 593,000 |
Cost | 2,317,588 |
4,651,875 |
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If investment property had not been revalued it would have been included at the following historical cost: |
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2018 | 2017 |
£ | £ |
Cost | 2,317,588 | 2,317,588 |
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Investment property was valued on an open market basis on 21 December 2012 by PJK Chartered Surveyors . |
Lloyd's Property Southwest Limited (Registered number: 01253169) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loan |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank loans |
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Legal charge, created 26 August 2016, over the property known as Lodge Hill Industrial Estate, Station Road, |
Westbury Sub Mendip. |
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10. | RELATED PARTY DISCLOSURES |
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Other debtors include £2,606 (2017 - £2,054) due from
K J Lloyd and P P Lloyd are partners. This loan is unsecured, interest free and has no fixed repayment terms. |
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Also included in other debtors is a loan to Lloyd's Property Holdings Limited of £768,972 ( 2017 - £776,550), a |
company in which the directors' family have an interest.This loan is unsecured, interest free and is being repaid |
over a 25 year period. |