Registered number
04565741
Leafgreen Estates Limited
Unaudited Filleted Accounts
31 July 2023
Leafgreen Estates Limited
Registered number: 04565741
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,711,774 11,501,659
Current assets
Debtors 4 32,221 14,772
Cash at bank and in hand 1,460,317 1,290,250
1,492,538 1,305,022
Creditors: amounts falling due within one year 5 (394,581) (419,097)
Net current assets 1,097,957 885,925
Total assets less current liabilities 11,809,731 12,387,584
Creditors: amounts falling due after more than one year 6 (105,082) (230,125)
Provisions for liabilities (1,547,479) (1,740,596)
Net assets 10,157,170 10,416,863
Capital and reserves
Called up share capital 17,978 17,978
Revaluation reserve 8 1,352,589 1,931,942
Other reserves 3,289,855 3,289,855
Profit and loss account 5,496,748 5,177,088
Shareholders' funds 10,157,170 10,416,863
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Simon Itkin
Director
Approved by the board on 15 March 2024
Leafgreen Estates Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than investement properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 20 years
Investment property
Investment property is measured at fair value at each reporting date. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 11,466,000 47,699 11,513,699
Revaluation (772,467) - (772,467)
Disposals (15,033) - (15,033)
At 31 July 2023 10,678,500 47,699 10,726,199
Depreciation
At 1 August 2022 - 12,040 12,040
Charge for the year - 2,385 2,385
At 31 July 2023 - 14,425 14,425
Net book value
At 31 July 2023 10,678,500 33,274 10,711,774
At 31 July 2022 11,466,000 35,659 11,501,659
Freehold land and buildings: 2023 2022
£ £
Historical cost 8,875,048 8,890,080
8,875,048 8,890,080
Properties have been revalued in the accounts as follows:
Property Year revalued Valuer Basis of valuation Revalued amount
£
Biggin Street, Kent 2023 Simon Itkin 5% yield 450,500
High Street, Waltham Cross 2023 Simon Itkin 5% yield 787,500
Station Road, Harrow 2023 Simon Itkin 5% yield 1,627,500
Camden High Street, London 2023 Aston Rose Investment method 2,100,000
Ashton Old Road & Pottery Lane, Openshaw 2023 Simon Itkin 5% yield 367,500
Fleet Street, London 2023 Aston Rose Investment method 4,075,000
Bessemer Street, Manchester 2023 Simon Itkin 5% yield 640,500
Beech Avenue, Brentford 2023 Simon Itkin Cost 630,000
10,678,500
4 Debtors 2023 2022
£ £
Trade debtors 24,917 2,691
Other debtors 7,304 12,081
32,221 14,772
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 119,102 113,160
Trade creditors 37,444 49,778
Taxation and social security costs 93,424 61,668
Accruals 13,211 6,138
Deferred income 77,554 137,757
Other creditors 53,846 50,596
394,581 419,097
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 105,082 230,125
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 224,184 343,285
Lloyds Bank PLC hold a legal charge over two freehold properties in regard to this facility.
8 Revaluation reserve 2023 2022
£ £
At 1 August 2022 1,931,942 3,763,167
Loss on revaluation of land and buildings (772,467) (2,394,888)
Deferred taxation arising on the revaluation of land and buildings 193,114 563,663
At 31 July 2023 1,352,589 1,931,942
9 Related party transactions
Leafgreen Displays Limited: A company with common ownership and control.

During the year Leafgreen Displays Limited charged management fees amounting to £48,000 (2022: £48,000) to the company.
10 Other information
Leafgreen Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 8 Delta Business Park
10 Smugglers Way
London
SW18 1EG
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