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REGISTERED NUMBER: 09726027 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Laxton Holdings Limited

Laxton Holdings Limited (Registered number: 09726027)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Laxton Holdings Limited (Registered number: 09726027)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,879 -
Investments 5 40,000 40,000
Investment property 6 1,520,000 1,461,018
1,571,879 1,501,018

CURRENT ASSETS
Debtors 7 86,960 18,000
Cash at bank 668,460 592,655
755,420 610,655
CREDITORS
Amounts falling due within one year 8 94,121 167,921
NET CURRENT ASSETS 661,299 442,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,233,178

1,943,752

CREDITORS
Amounts falling due after more than one
year

9

(818,868

)

(873,481

)

PROVISIONS FOR LIABILITIES (17,481 ) (6,274 )
NET ASSETS 1,396,829 1,063,997

CAPITAL AND RESERVES
Called up share capital issued and fully
paid

11

40,000

40,000
Retained earnings 1,356,829 1,023,997
SHAREHOLDERS' FUNDS 1,396,829 1,063,997

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.

Laxton Holdings Limited (Registered number: 09726027)

Balance Sheet - 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 November 2023 and were signed by:





J A Laxton - Director


Laxton Holdings Limited (Registered number: 09726027)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Laxton Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09726027

Registered office: Unit 6
Sapper Jordan Rossi Park
Otley Road
Baildon
BD17 7AX

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

The functional and presentational currency of the company is considered to be pounds sterling.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised on delivery.

Intangible assets
Separately acquired patents and licences are included at cost and amortised in equal annual instalments over a period of 10 years which is their estimated useful economic life. Provision is made for any impairment.

Intangible assets acquired as part of a business combination are measured at fair value at the acquisition date.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less provision for impairment where necessary to reduce book value to recoverable cost.

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.

The company makes an estimate of the fair value of investment properties at each reporting date. The last independent professional valuation of the company's investment property portfolio was performed at 12th May 2017. The directors undertake a review of the property portfolio at each reporting date to assess whether the fair value has changed significantly since the previous reporting date. When assessing the fair values, management considers current commercial property trends and rental yields.

Laxton Holdings Limited (Registered number: 09726027)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

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.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors, other creditors, and inter-company balances.

Trade debtors, other debtors, cash and bank balances, trade creditors, other creditors and inter-company balances (being repayable on demand) are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Laxton Holdings Limited (Registered number: 09726027)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Impairment losses
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets

An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised.

Income from shares in group undertakings

Income from shares in group undertakings is recognised at the point of declaration in the subsidiary company.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 12,080
At 31 March 2023 12,080
AMORTISATION
Charge for year 201
At 31 March 2023 201
NET BOOK VALUE
At 31 March 2023 11,879

Laxton Holdings Limited (Registered number: 09726027)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 40,000
NET BOOK VALUE
At 31 March 2023 40,000
At 31 March 2022 40,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,461,018
Additions 58,982
At 31 March 2023 1,520,000
NET BOOK VALUE
At 31 March 2023 1,520,000
At 31 March 2022 1,461,018

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,000 18,000
Amounts owed by group undertakings 67,587 -
Other debtors 1,373 -
86,960 18,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 57,750 57,750
Amounts owed to group undertakings - 54,829
Taxation and social security 36,371 48,978
Other creditors - 6,364
94,121 167,921

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 818,868 873,481

Laxton Holdings Limited (Registered number: 09726027)

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 876,618 931,231

11. CALLED UP SHARE CAPITAL ISSUED AND FULLY PAID

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
40,000 Ordinary £1 40,000 40,000

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year advances were made to the director, at the year end there was a balance of £1,373 due from the director, this balance is included within other debtors. The amounts advanced to director are repayable on demand; no interest is charged.