Company Registration No. 13872027 (England and Wales)
Langstone Properties Limited
Unaudited accounts
for the year ended 31 March 2024
Langstone Properties Limited
Unaudited accounts
Contents
Langstone Properties Limited
Company Information
for the year ended 31 March 2024
Directors
Mr C Ballard
Mr A Ballard
Company Number
13872027 (England and Wales)
Registered Office
248 Bournemouth Road
Chandler's Ford
Eastleigh
Hampshire
SO53 3HB
Langstone Properties Limited
Statement of financial position
as at 31 March 2024
Investment property
650,851
650,851
Cash at bank and in hand
354
395
Creditors: amounts falling due within one year
(116)
-
Net current assets
238
395
Total assets less current liabilities
651,631
651,969
Creditors: amounts falling due after more than one year
(650,122)
(662,722)
Net assets/(liabilities)
1,509
(10,753)
Called up share capital
200
200
Profit and loss account
1,309
(10,953)
Shareholders' funds
1,509
(10,753)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2024 and were signed on its behalf by
Mr C Ballard
Director
Company Registration No. 13872027
Langstone Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
Langstone Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 13872027. The registered office is 248 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, SO53 3HB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with the 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.
The accounts are presented in £ sterling.
Turnover comprises of rental income received from renting properties.
The investment properties are shown at its fair value as estimated by the Directors. Any movement in fair value is recognised in the fair value reserve.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Finance costs relate to effective interest rates on the loans and have been charged directly to the income statement.
The company relies on the continued support of its directors. The directors have confirmed their continued support and the financial statements are therefore prepared on a going concern basis.
Langstone Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment
Fair value at 1 April 2023
650,851
The investment properties are valued at open market value by the Directors. The original cost of the property was £650.851.
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
116
-
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
457,448
457,448
Loans from directors
192,674
205,274
Aggregate of amounts that fall due for payment after five years
457,448
457,448
Included within creditors due after one year are £457,448 worth of loans for which security has been given.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).