Company registration number 02697583 (England and Wales)
Landown Limited
Unaudited
financial statements
for the year ended 31 March 2023
PAGES FOR FILING WITH REGISTRAR
Landown Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Landown Limited
Statement Of Financial Position
as at 31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
133,223
104,442
Investment properties
4
4,168,915
4,106,337
Investments
5
5,511
6,147
4,307,649
4,216,926
Current assets
Stocks
257,683
257,683
Debtors
466,329
715,985
Investments
200,000
200,000
Cash at bank and in hand
44,628
10,242
968,640
1,183,910
Creditors: amounts falling due within one year
(451,183)
(491,034)
Net current assets
517,457
692,876
Total assets less current liabilities
4,825,106
4,909,802
Creditors: amounts falling due after more than one year
(2,438,869)
(2,280,093)
Net assets
2,386,237
2,629,709
Capital and reserves
Called up share capital
6
100
100
Share premium account
639,900
639,900
Profit and loss reserves
1,746,237
1,989,709
Total equity
2,386,237
2,629,709
Landown Limited
Statement Of Financial Position (continued)
as at 31 March 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 16 October 2023
P I Cockcroft
Director
Company Registration No. 02697583
Landown Limited
Notes to the financial statements
for the year ended 31 March 2023
- 3 -
1
Accounting policies
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.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received for goods provided in the normal course of business, and is shown net of VAT.
Turnover is recognised on an accruals basis.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% reducing balance basis
Motor vehicles
25% reducing balance basis
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Fixed asset investments
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Government grants
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred.
Landown Limited
Notes to the financial statements (continued)
for the year ended 31 March 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
4
2
3
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2022
98,801
6,500
105,301
Additions
39,992
11,200
51,192
Disposals
(6,500)
(6,500)
At 31 March 2023
138,793
11,200
149,993
Depreciation and impairment
At 1 April 2022
588
271
859
Depreciation charged in the year
14,732
2,229
16,961
Eliminated in respect of disposals
(1,050)
(1,050)
At 31 March 2023
15,320
1,450
16,770
Carrying amount
At 31 March 2023
123,473
9,750
133,223
At 31 March 2022
98,213
6,229
104,442
4
Investment property
2023
£
Fair value
At 1 April 2022
4,106,338
Additions
62,577
At 31 March 2023
4,168,915
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
5,511
6,147
Landown Limited
Notes to the financial statements (continued)
for the year ended 31 March 2023
5
Fixed asset investments
(continued)
- 5 -
Fixed asset investments revalued
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2022 & 31 March 2023
6,147
Carrying amount
At 31 March 2023
6,147
At 31 March 2022
6,147
Error! Does not agree to TB:
5,511
Difference
636
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Company information
Landown Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Estate Office, Ashgrove House, Elland, HX5 9JB.