Company registration number 09657242 (England and Wales)
Llanerch-Y-Mor Land Holdings Ltd
Unaudited financial statements
For the year ended 30 June 2023
Llanerch-Y-Mor Land Holdings Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Llanerch-Y-Mor Land Holdings Ltd
Balance sheet
As at 30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
100,000
100,000
Current assets
-
-
Creditors: amounts falling due within one year
4
(115,056)
(114,486)
Net current liabilities
(115,056)
(114,486)
Net liabilities
(15,056)
(14,486)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(15,058)
(14,488)
Total equity
(15,056)
(14,486)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 10 March 2024
Mr J Rowley
Director
Company registration number 09657242 (England and Wales)
Llanerch-Y-Mor Land Holdings Ltd
Notes to the financial statements
For the year ended 30 June 2023
- 2 -
1
Accounting policies
Company information

Llanerch-Y-Mor Land Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Chester House, LLoyd Drive, Cheshire Oaks Business Park, Ellesmere Port, Cheshire, England, CH65 9HQ.

1.1
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. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention , modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the balance sheet date the company has net liabilities and is therefore reliant on the continued support of the director and shareholders. The financial statements are prepared on the going concern basis which assumes that this support will be forthcoming.

1.3
Investment property

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.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. As all financial assets are classified within one year, they are not amortised but carried at face value.

Llanerch-Y-Mor Land Holdings Ltd
Notes to the financial statements (continued)
For the year ended 30 June 2023
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and continue to be measured at face value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Investment property
2023
£
Fair value
At 1 July 2022 and 30 June 2023
100,000
Llanerch-Y-Mor Land Holdings Ltd
Notes to the financial statements (continued)
For the year ended 30 June 2023
- 4 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
115,056
114,486
5
Related party transactions

At the balance sheet date, there was a balance owing to the director and shareholders in the sum of £114,486 (2022 - £113,916). The balance is interest free and repayable on demand.

 

The loan is secured by a legal charge over the assets of the company.

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