4 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 08136879 2022-04-01 2023-03-31 08136879 2023-03-31 08136879 2022-03-31 08136879 2021-04-01 2022-03-31 08136879 2022-03-31 08136879 2021-03-31 08136879 bus:Director1 2022-04-01 2023-03-31 08136879 bus:Director2 2022-04-01 2023-03-31 08136879 core:FurnitureFittingsToolsEquipment 2022-03-31 08136879 core:MotorVehicles 2022-03-31 08136879 core:FurnitureFittingsToolsEquipment 2023-03-31 08136879 core:MotorVehicles 2023-03-31 08136879 core:AfterOneYear 2023-03-31 08136879 core:AfterOneYear 2022-03-31 08136879 core:WithinOneYear 2023-03-31 08136879 core:WithinOneYear 2022-03-31 08136879 core:ShareCapital 2023-03-31 08136879 core:ShareCapital 2022-03-31 08136879 core:RetainedEarningsAccumulatedLosses 2023-03-31 08136879 core:RetainedEarningsAccumulatedLosses 2022-03-31 08136879 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 08136879 core:MotorVehicles 2022-04-01 2023-03-31 08136879 core:FurnitureFittingsToolsEquipment 2022-03-31 08136879 core:MotorVehicles 2022-03-31 08136879 bus:Director1 2022-03-31 08136879 bus:Director1 2023-03-31 08136879 bus:Director1 2021-03-31 08136879 bus:Director1 2022-03-31 08136879 bus:Director2 2021-03-31 08136879 bus:Director1 2021-04-01 2022-03-31 08136879 bus:Director2 2021-04-01 2022-03-31 08136879 bus:SmallEntities 2022-04-01 2023-03-31 08136879 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08136879 bus:FullAccounts 2022-04-01 2023-03-31 08136879 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08136879 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
Company registration number: 08136879
Land Development Property Group Ltd
Unaudited filleted financial statements
31 March 2023
Land Development Property Group Ltd
Contents
Statement of financial position
Notes to the financial statements
Land Development Property Group Ltd
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 44,093 57,339
_______ _______
44,093 57,339
Current assets
Stocks 5,185,411 4,043,907
Debtors 6 387,525 290,241
Cash at bank and in hand 1,118,358 1,874,389
_______ _______
6,691,294 6,208,537
Creditors: amounts falling due
within one year 7 ( 2,846,931) ( 2,873,614)
_______ _______
Net current assets 3,844,363 3,334,923
_______ _______
Total assets less current liabilities 3,888,456 3,392,262
Creditors: amounts falling due
after more than one year 8 ( 1,083,000) ( 350,000)
_______ _______
Net assets 2,805,456 3,042,262
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,805,356 3,042,162
_______ _______
Shareholders funds 2,805,456 3,042,262
_______ _______
For the year ending 31 March 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 year 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 October 2023 , and are signed on behalf of the board by:
Mr N Vij
Director
Company registration number: 08136879
Land Development Property Group Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Avery House, 8 Avery Hill Road, New Eltham, London, SE9 2BD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
Basic financial instruments in 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 Income Statement in other administrative expenses.Other financial assets and liabilities, such as loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 5 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2022 8,345 100,303 108,648
Additions 1,449 - 1,449
_______ _______ _______
At 31 March 2023 9,794 100,303 110,097
_______ _______ _______
Depreciation
At 1 April 2022 2,869 48,440 51,309
Charge for the year 1,731 12,964 14,695
_______ _______ _______
At 31 March 2023 4,600 61,404 66,004
_______ _______ _______
Carrying amount
At 31 March 2023 5,194 38,899 44,093
_______ _______ _______
At 31 March 2022 5,476 51,863 57,339
_______ _______ _______
6. Debtors
2023 2022
£ £
Other debtors 387,525 290,241
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 16,706 26,386
Social security and other taxes 31,224 49,420
Other creditors 2,799,001 2,797,808
_______ _______
2,846,931 2,873,614
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 1,083,000 350,000
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr N Vij ( 1,310) ( 2,690) ( 4,000)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr N Vij ( 520) ( 790) ( 1,310)
Late Mr S K Vij ( 520) 520 -
_______ _______ _______
( 1,040) ( 270) ( 1,310)
_______ _______ _______
The Loan is interest free and repayable on demand.