Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3132023-01-01falseThe company's principal activites were property development, provision of management services and purchasing properties for investment purposes.2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01467103 2023-01-01 2023-12-31 01467103 2022-01-01 2022-12-31 01467103 2023-12-31 01467103 2022-12-31 01467103 c:Director1 2023-01-01 2023-12-31 01467103 d:Buildings 2023-12-31 01467103 d:Buildings 2022-12-31 01467103 d:OfficeEquipment 2023-01-01 2023-12-31 01467103 d:OfficeEquipment 2023-12-31 01467103 d:OfficeEquipment 2022-12-31 01467103 d:CurrentFinancialInstruments 2023-12-31 01467103 d:CurrentFinancialInstruments 2022-12-31 01467103 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01467103 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01467103 d:ShareCapital 2023-12-31 01467103 d:ShareCapital 2022-12-31 01467103 d:RevaluationReserve 2023-12-31 01467103 d:RevaluationReserve 2022-12-31 01467103 d:RetainedEarningsAccumulatedLosses 2023-12-31 01467103 d:RetainedEarningsAccumulatedLosses 2022-12-31 01467103 c:FRS102 2023-01-01 2023-12-31 01467103 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01467103 c:FullAccounts 2023-01-01 2023-12-31 01467103 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01467103 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 01467103










LANGTRY DEVELOPMENTS LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LANGTRY DEVELOPMENTS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
LANGTRY DEVELOPMENTS LIMITED
REGISTERED NUMBER: 01467103

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,168,091
1,168,091

Investments
 5 
10,000
10,000

  
1,178,091
1,178,091

Current assets
  

Stocks
  
188,118
188,118

Debtors: amounts falling due within one year
 6 
208,451
225,790

Cash at bank and in hand
  
267,540
119,732

  
664,109
533,640

Creditors: amounts falling due within one year
 7 
(174,912)
(127,291)

Net current assets
  
 
 
489,197
 
 
406,349

Total assets less current liabilities
  
1,667,288
1,584,440

  

Net assets
  
1,667,288
1,584,440


Capital and reserves
  

Called up share capital 
  
202
202

Revaluation reserve
  
583,611
583,611

Profit and loss account
  
1,083,475
1,000,627

  
1,667,288
1,584,440


Page 1

 
LANGTRY DEVELOPMENTS LIMITED
REGISTERED NUMBER: 01467103
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 April 2024.


R. Stoddart
Director


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LANGTRY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Langtry Developments Limited is a private company limited by shares incorporated in England. The address of the registered office and principal place of business is Langtry Lodge, South Town, Dartmouth, Devon, TQ6 9BU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of rents receivable for the year, the sales of properties held as stock and management charges, net of Value Added Tax. Revenue from the sales of properties is recognised when the risks and rewards of ownership have been transferred to the purchaser. Management charges and rental income are recognised by the Company on a receivable basis.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer and office equipment
-
three years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

Page 3

 
LANGTRY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
LANGTRY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 2).


4.


Tangible fixed assets





Freehold investment property
Computer and office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
1,168,091
7,976
1,176,067



At 31 December 2023

1,168,091
7,976
1,176,067



Depreciation


At 1 January 2023
-
7,976
7,976



At 31 December 2023

-
7,976
7,976



Net book value



At 31 December 2023
1,168,091
-
1,168,091



At 31 December 2022
1,168,091
-
1,168,091

The historical cost of the investment property is £584,480 (2022: £584,480).
The investment property was valued at the year end by the directors.

Page 5

 
LANGTRY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
20,000



At 31 December 2023

20,000



Impairment


At 1 January 2023
10,000



At 31 December 2023

10,000



Net book value



At 31 December 2023
10,000



At 31 December 2022
10,000


6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
9,314
9,314

Other debtors
191,446
204,500

Prepayments and accrued income
7,691
11,976

208,451
225,790


Page 6

 
LANGTRY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
9,992
9,992

Corporation tax
23,364
15,399

Other taxation and social security
5,098
5,408

Other creditors
129,890
66,313

Accruals and deferred income
6,568
30,179

174,912
127,291


 
Page 7