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REGISTERED NUMBER: 00183492 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2017

for

Lowcock Properties Limited

Lowcock Properties Limited (Registered number: 00183492)






Contents of the Financial Statements
for the Year Ended 31 December 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lowcock Properties Limited

Company Information
for the Year Ended 31 December 2017







DIRECTORS: J M Lowcock
R W Lowcock





SECRETARIES: M J Lowcock
Mrs B A Lowcock





REGISTERED OFFICE: 3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX





REGISTERED NUMBER: 00183492 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff LLP
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Lowcock Properties Limited (Registered number: 00183492)

Balance Sheet
31 December 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,291,597 4,628,906
Investments 5 140,305 22,350
5,431,902 4,651,256

CURRENT ASSETS
Debtors 6 59,016 25,666
Cash at bank 46,357 1,240,578
105,373 1,266,244
CREDITORS
Amounts falling due within one year 7 116,154 352,536
NET CURRENT (LIABILITIES)/ASSETS (10,781 ) 913,708
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,421,121

5,564,964

PROVISIONS FOR LIABILITIES 470,012 554,918
NET ASSETS 4,951,109 5,010,046

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Non distributable reserve 9 3,045,537 3,098,387
Retained earnings 9 1,903,572 1,909,659
SHAREHOLDERS' FUNDS 4,951,109 5,010,046

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

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.

Lowcock Properties Limited (Registered number: 00183492)

Balance Sheet - continued
31 December 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 23 June 2018 and were signed on its behalf by:





R W Lowcock - Director


Lowcock Properties Limited (Registered number: 00183492)

Notes to the Financial Statements
for the Year Ended 31 December 2017

1. STATUTORY INFORMATION

Lowcock Properties Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to
the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years stated unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

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.

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.

Fixed asset investments
Fixed asset investments are shown at cost or at most recent valuation, if lower than cost. Any aggregate deficit
arising from changes in market value are transferred to the profit and loss account in the year.

Lowcock Properties Limited (Registered number: 00183492)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

2. ACCOUNTING POLICIES - continued

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at
fair value at each reporting date with changes in fair value recognised in profit or loss.

VALUATION OF INVESTMENT PROPERTIES
The residential properties, held within investment properties, were valued by Joe Fraser, Chartered surveyors, on
25 October 2017. The directors don't believe there to be any significant change at the balance sheet date.

The remaining non residential investment properties have been valued at fair value by the directors. Whilst the
directors are not professionally qualified valuers, they have a longstanding involvement in the local property
market.

The Farm land is valued using an average market rate of UK agricultural land.

The Farm land which currently has an option on it is valued based on recent activity.

IMPAIRMENT
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance
sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is
estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an
impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the
impairment loss is a revaluation decrease.

Debtors and creditors receivable/payable within one year.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

PROVISIONS
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past
event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be
reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 1 ) .

Lowcock Properties Limited (Registered number: 00183492)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

4. TANGIBLE FIXED ASSETS
Fixtures
Investment and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2017 4,628,655 13,255 - 4,641,910
Additions 782,921 - 44,400 827,321
Disposals (75,000 ) - - (75,000 )
Revaluations (80,256 ) - - (80,256 )
At 31 December 2017 5,256,320 13,255 44,400 5,313,975
DEPRECIATION
At 1 January 2017 - 13,004 - 13,004
Charge for year - 68 9,306 9,374
At 31 December 2017 - 13,072 9,306 22,378
NET BOOK VALUE
At 31 December 2017 5,256,320 183 35,094 5,291,597
At 31 December 2016 4,628,655 251 - 4,628,906

Cost or valuation at 31 December 2017 is represented by:

Fixtures
Investment and Motor
property fittings vehicles Totals
£    £    £    £   
Valuation in 2016 3,653,304 - - 3,653,304
Valuation in 2017 (138,881 ) - - (138,881 )
Cost 1,741,897 13,255 44,400 1,799,552
5,256,320 13,255 44,400 5,313,975

If Investment properties had not been revalued they would have been included at the following historical cost:

2017 2016
£    £   
Cost 1,741,898 975,351

Investment properties were valued on an open market basis on 25 October 2017 by Joe Fraser, Chartered Surveyors
.

The non residential investment properties were revalued by the directors at the year end on an open market value
basis.

Lowcock Properties Limited (Registered number: 00183492)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2017 22,350
Additions 175,166
Disposals (50,784 )
Impairments (7,667 )
Reversal of impairments 1,240
At 31 December 2017 140,305
NET BOOK VALUE
At 31 December 2017 140,305
At 31 December 2016 22,350

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 5,875 6,075
Other debtors 2,983 512
Prepayments and accrued income 50,158 19,079
59,016 25,666

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Taxation - 249,756
Social security and other taxes 978 120
Other creditors 20,591 -
Directors' current accounts 46,971 57,528
Accrued expenses 47,614 45,132
116,154 352,536

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
2,000 Ordinary £1 2,000 2,000

Lowcock Properties Limited (Registered number: 00183492)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017

9. RESERVES
Non
Retained distributable
earnings reserve Totals
£    £    £   

At 1 January 2017 1,909,659 3,098,387 5,008,046
Deficit for the year (13,937 ) - (13,937 )
Dividends (45,000 ) - (45,000 )
Realised gain 57,500 (57,500 ) -
Reserve transfer (4,650 ) 4,650 -
At 31 December 2017 1,903,572 3,045,537 4,949,109

10. POST BALANCE SHEET EVENTS

After the balance sheet date but prior to signature, the company sold Tranche 2 of Farm land which has an option
on it, currently held in investment properties for £1,400,000.