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COMPANY REGISTRATION NUMBER: 07184737
Landau Holdings (Folkestone) Limited
Filleted Unaudited Financial Statements
31 July 2023
Landau Holdings (Folkestone) Limited
Financial Statements
Year ended 31 July 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Landau Holdings (Folkestone) Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
575,402
575,402
Current assets
Cash at bank and in hand
65,882
398,032
Creditors: amounts falling due within one year
6
580,802
921,203
---------
---------
Net current liabilities
514,920
523,171
---------
---------
Total assets less current liabilities
60,482
52,231
--------
--------
Net assets
60,482
52,231
--------
--------
Capital and reserves
Called up share capital
666
666
Capital redemption reserve
334
334
Profit and loss account
59,482
51,231
--------
--------
Shareholders funds
60,482
52,231
--------
--------
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 year ending 31 July 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 were approved by the board of directors and authorised for issue on 15 November 2023 , and are signed on behalf of the board by:
Mr C G Furneaux
Director
Company registration number: 07184737
Landau Holdings (Folkestone) Limited
Notes to the Financial Statements
Year ended 31 July 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 111 Sandgate Road, Folkestone, Kent, CT20 2BL.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current 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.
Investments
Investments in subsidiaries are measured at cost less accumulated impairment.
Impairment of fixed assets
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employees
The average monthly number of employees, including directors, during the year was 2 (2022: 2).
5. Investments
Shares in group undertakings
£
Cost
At 1 August 2022 and 31 July 2023
575,402
---------
Impairment
At 1 August 2022 and 31 July 2023
---------
Carrying amount
At 31 July 2023
575,402
---------
At 31 July 2022
575,402
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
576,900
917,159
Corporation tax
1,936
2,078
Other creditors
1,966
1,966
---------
---------
580,802
921,203
---------
---------
7. Related party transactions
At the year end the company owed £576,900 to its 100% owned subsidiary (2022: £917,159).