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COMPANY REGISTRATION NUMBER: 07295245
Landsmill Group Limited
Filleted Unaudited Financial Statements
30 June 2023
Landsmill Group Limited
Statement of Financial Position
30 June 2023
30 Jun 23
31 Dec 21
Note
£
£
£
Fixed assets
Tangible assets
4
185,161
Investments
5
2
----
---------
185,163
Current assets
Debtors
6
508
Cash at bank and in hand
68
827
----
-------
68
1,335
Creditors: amounts falling due within one year
7
527
110,445
----
---------
Net current liabilities
459
109,110
----
---------
Total assets less current liabilities
( 459)
76,053
----
--------
Net (liabilities)/assets
( 459)
76,053
----
--------
Capital and reserves
Called up share capital
102
102
Profit and loss account
( 561)
75,951
----
--------
Shareholders (deficit)/funds
( 459)
76,053
----
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Landsmill Group Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 2 October 2023 , and are signed on behalf of the board by:
J H Stafford
Director
Company registration number: 07295245
Landsmill Group Limited
Notes to the Financial Statements
Period from 1 January 2022 to 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE. The trading address of the company is 13 - 17 Millstone Lane, Leicester, LE1 5JN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment property
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss accounts represents rents due during the period.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Investment property
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2022
185,160
1,142
186,302
Disposals
( 185,160)
( 1,142)
( 186,302)
---------
-------
---------
At 30 June 2023
---------
-------
---------
Depreciation
At 1 January 2022
1,141
1,141
Disposals
( 1,141)
( 1,141)
---------
-------
---------
At 30 June 2023
---------
-------
---------
Carrying amount
At 30 June 2023
---------
-------
---------
At 31 December 2021
185,160
1
185,161
---------
-------
---------
5. Investments
Other investments other than loans
£
Cost
At 1 January 2022
2
Disposals
( 2)
----
At 30 June 2023
----
Impairment
At 1 January 2022 and 30 June 2023
----
Carrying amount
At 30 June 2023
----
At 31 December 2021
2
----
6. Debtors
30 Jun 23
31 Dec 21
£
£
Other debtors
508
----
----
7. Creditors: amounts falling due within one year
30 Jun 23
31 Dec 21
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
40,430
Other creditors
527
70,015
----
---------
527
110,445
----
---------