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REGISTERED NUMBER: 04181719 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Lands (North East) Limited

Lands (North East) Limited (Registered number: 04181719)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lands (North East) Limited

Company Information
for the year ended 31 March 2023







DIRECTOR: N S Pannu





SECRETARY: N S Pannu





REGISTERED OFFICE: 18 Whitby Drive
Biddick
Washington
Tyne & Wear
NE38 7NW





REGISTERED NUMBER: 04181719 (England and Wales)





ACCOUNTANTS: TTR Barnes
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

Lands (North East) Limited (Registered number: 04181719)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,879 2,560
Investment property 5 1,280,928 1,280,928
1,283,807 1,283,488

CURRENT ASSETS
Debtors 6 9,429 6,258
Cash at bank 5,885 67,409
15,314 73,667
CREDITORS
Amounts falling due within one year 7 670,332 694,052
NET CURRENT LIABILITIES (655,018 ) (620,385 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

628,789

663,103

CREDITORS
Amounts falling due after more than one
year

8

(123,801

)

(121,619

)

PROVISIONS FOR LIABILITIES (71,156 ) (71,267 )
NET ASSETS 433,832 470,217

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 433,830 470,215
SHAREHOLDERS' FUNDS 433,832 470,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Lands (North East) Limited (Registered number: 04181719)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 September 2023 and were signed by:





N S Pannu - Director


Lands (North East) Limited (Registered number: 04181719)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Lands (North East) 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 financial statements have been prepared on the going concern basis,which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% Straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Lands (North East) Limited (Registered number: 04181719)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Other operating income
Other income represents net rents, management and services charges , excluding value added tax.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 41,868
Additions 1,202
At 31 March 2023 43,070
DEPRECIATION
At 1 April 2022 39,308
Charge for year 883
At 31 March 2023 40,191
NET BOOK VALUE
At 31 March 2023 2,879
At 31 March 2022 2,560

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,280,928
NET BOOK VALUE
At 31 March 2023 1,280,928
At 31 March 2022 1,280,928

In the opinion of the directors the stated value of the investment property represents its fair value as at 31 March 2023.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 371,576
Cost 909,352
1,280,928

Lands (North East) Limited (Registered number: 04181719)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 9,429 6,258

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 7,043 15,182
Trade creditors 19,338 1,533
Other creditors 643,951 677,337
670,332 694,052

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 123,801 121,619

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 94,885 60,604

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,043 15,182

Amounts falling due between one and two years:
Bank loans - 1-2 years 7,116 15,254

Amounts falling due between two and five years:
Bank loans - 2-5 years 21,800 45,761

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 94,885 60,604

Lands (North East) Limited (Registered number: 04181719)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 130,844 136,801

The bank loan is secured by a fixed and floating charge over the company's investment property.