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REGISTERED NUMBER: 10485231 (England and Wales)



















Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 January 2023

for

Langland Holdings Limited

Langland Holdings Limited (Registered number: 10485231)






Contents of the Consolidated Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


Langland Holdings Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: M T Banfield
J C Banfield
Mrs C M Banfield





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: 10485231 (England and Wales)





AUDITORS: Alwyns LLP, Statutory Auditor
Crown House
151 High Road
Loughton
IG10 4LG

Langland Holdings Limited (Registered number: 10485231)

Group Strategic Report
for the Year Ended 31 January 2023

The directors present their strategic report of the company and the group for the year ended 31 January 2023.

REVIEW OF BUSINESS
The core business and principal activity of Langland Holdings Limited during the year continued to be that of a holding company. The principal activity of the group headed by the company continued to be that of the provision of care home facilities.

The company's results for the period and financial position of the company are as shown in the annexed financial statements.

The directors are satisfied with the performance of the company's trading subsidiary, Langland Care Limited. Group turnover increased by 21% from the previous year with gross margin slightly increasing from 43% to 44% which is the company's key performance indicator (KPI). The group balance sheet net assets increased from £7.690m to £8.815m.

PRINCIPAL RISKS AND UNCERTAINTIES
The wholly owned subsidiary operates in the care home sector which remains very competitive and the directors believe that the market will remain this way in the foreseeable future. The company itself does not actively trade with unconnected third parties but the activities of the trading subsidiary exposes it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial instruments is continually monitored by the directors and the company does not use derivative financial instruments for speculative purposes. The directors monitor the performance of the subsidiary on a regular basis to manage its risks and uncertainties. Risks and uncertainties of those are managed as follows:

Credit risk
Credit risk is primarily attributable to trade and other receivables. Credit risk in relation to trade receivables is managed by regularly monitoring credit limits and balances outstanding. There is no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit ratings assigned by international credit-rating agencies.

Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, a significant amount of cash within bank accounts is maintained. Liquidity risk is managed by monitoring working capital and ensuring that there are sufficient funds to meet payments. The balance outstanding is managed as part of the overall working capital management. The majority of fixed assets are acquired through direct payments. The board is cognisant of the company's working capital requirements and has concluded the facilities currently in place are appropriate to the size and complexity of operations.

COVID-19
The directors are grateful for its excellent team of staff that have seen it through the COVID pandemic and Brexit. Considerable focus has been made and continues to be made on maintaining a safe environment for all our employees in which to work and this has enabled us to continue trading throughout. The group faced many challenges as a result of the COVID pandemic and continues to do so but with its excellent staff has managed these to the highest level without affecting profitability.

FUTURE PROSPECTS
The group is focussed on maintaining its position in the market and continuing to provide an excellent service.

ON BEHALF OF THE BOARD:





Mrs C M Banfield - Director


17 January 2024

Langland Holdings Limited (Registered number: 10485231)

Report of the Directors
for the Year Ended 31 January 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2023.

DIVIDENDS
The total distribution of dividends for the year ended 31 January 2023 will be £ 101,500 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2022 to the date of this report.

M T Banfield
J C Banfield
Mrs C M Banfield

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The directors refer you to the Strategic Report for information regarding financial risk management, objectives and policies.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Langland Holdings Limited (Registered number: 10485231)

Report of the Directors
for the Year Ended 31 January 2023


AUDITORS
The auditors, Alwyns LLP, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs C M Banfield - Director


17 January 2024

Report of the Independent Auditors to the Members of
Langland Holdings Limited

Opinion
We have audited the financial statements of Langland Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2023 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 January 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Langland Holdings Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Enquiry of management and those charged with governance as to whether the entity complies with such laws and regulations;
- Enquiry of management and those charged with governance concerning any actual or potential litigation claims;
- Inspection of relevant legal correspondence;
- Testing of journal and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business;
- Performing analytical procedures to identify unexpected movements in account balances;
- Reviewing assumptions and judgements made by management within any significant accounting estimates, particularly in relation to deferred and accrued income.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Langland Holdings Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Stanley (Senior Statutory Auditor)
for and on behalf of Alwyns LLP, Statutory Auditor
Crown House
151 High Road
Loughton
IG10 4LG

19 January 2024

Langland Holdings Limited (Registered number: 10485231)

Consolidated Statement of Comprehensive Income
for the Year Ended 31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   

TURNOVER 3 4,178,915 3,445,138

Cost of sales 2,348,006 1,953,514
GROSS PROFIT 1,830,909 1,491,624

Administrative expenses 520,816 356,593
1,310,093 1,135,031

Other operating income 244,321 319,320
OPERATING PROFIT 5 1,554,414 1,454,351

Income from fixed asset investments 8,047 2,664
Interest receivable and similar income 22,412 12,438
30,459 15,102
1,584,873 1,469,453
Gain/loss on revaluation of investments (40,589 ) (52,764 )
1,544,284 1,416,689

Interest payable and similar expenses 6 2 -
PROFIT BEFORE TAXATION 1,544,282 1,416,689

Tax on profit 7 314,522 278,189
PROFIT FOR THE FINANCIAL YEAR 1,229,760 1,138,500

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,229,760

1,138,500

Profit attributable to:
Owners of the parent 1,229,760 1,138,500

Total comprehensive income attributable to:
Owners of the parent 1,229,760 1,138,500

Langland Holdings Limited (Registered number: 10485231)

Consolidated Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 217,063 216,399
Investments 12 6,136,209 6,216,278
6,353,272 6,432,677

CURRENT ASSETS
Debtors 13 135,943 131,778
Cash at bank 4,907,551 3,934,857
5,043,494 4,066,635
CREDITORS
Amounts falling due within one year 14 2,551,234 2,789,372
NET CURRENT ASSETS 2,492,260 1,277,263
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,845,532

7,709,940

PROVISIONS FOR LIABILITIES 16 27,034 19,702
NET ASSETS 8,818,498 7,690,238

CAPITAL AND RESERVES
Called up share capital 17 4 4
Retained earnings 8,818,494 7,690,234
SHAREHOLDERS' FUNDS 8,818,498 7,690,238

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2024 and were signed on its behalf by:




Mrs C M Banfield - Director



M T Banfield - Director


Langland Holdings Limited (Registered number: 10485231)

Company Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 5,570,363 5,572,030
5,570,363 5,572,030

CURRENT ASSETS
Cash at bank 4,525,453 3,662,473

CREDITORS
Amounts falling due within one year 14 2,065,466 2,405,745
NET CURRENT ASSETS 2,459,987 1,256,728
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,030,350

6,828,758

CAPITAL AND RESERVES
Called up share capital 17 4 4
Retained earnings 8,030,346 6,828,754
SHAREHOLDERS' FUNDS 8,030,350 6,828,758

Company's profit for the financial year 1,303,092 310,059

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2024 and were signed on its behalf by:




Mrs C M Banfield - Director



M T Banfield - Director


Langland Holdings Limited (Registered number: 10485231)

Consolidated Statement of Changes in Equity
for the Year Ended 31 January 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2021 4 6,648,734 6,648,738

Changes in equity
Dividends - (97,000 ) (97,000 )
Total comprehensive income - 1,138,500 1,138,500
Balance at 31 January 2022 4 7,690,234 7,690,238

Changes in equity
Dividends - (101,500 ) (101,500 )
Total comprehensive income - 1,229,760 1,229,760
Balance at 31 January 2023 4 8,818,494 8,818,498

Langland Holdings Limited (Registered number: 10485231)

Company Statement of Changes in Equity
for the Year Ended 31 January 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2021 4 6,615,695 6,615,699

Changes in equity
Dividends - (97,000 ) (97,000 )
Total comprehensive income - 310,059 310,059
Balance at 31 January 2022 4 6,828,754 6,828,758

Changes in equity
Dividends - (101,500 ) (101,500 )
Total comprehensive income - 1,303,092 1,303,092
Balance at 31 January 2023 4 8,030,346 8,030,350

Langland Holdings Limited (Registered number: 10485231)

Consolidated Cash Flow Statement
for the Year Ended 31 January 2023

31.1.23 31.1.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,440,925 1,156,693
Interest paid (2 ) -
Tax paid (231,211 ) (393,787 )
Net cash from operating activities 1,209,712 762,906

Cash flows from investing activities
Purchase of tangible fixed assets (36,580 ) (40,984 )
Purchase of fixed asset investments (240,544 ) (837,320 )
Sale of fixed asset investments 232,832 181,019
Drawdown from fixed asset investments 1,667 20,000
Interest received 22,412 12,438
Dividends received 8,047 2,664
Net cash from investing activities (12,166 ) (662,183 )

Cash flows from financing activities
Loans advanced out in year (25,666 ) (1,170 )
Amount introduced by directors 858,998 -
Amount withdrawn by directors (1,201,005 ) (524,910 )
Government grants 244,321 247,533
Equity dividends paid (101,500 ) (97,000 )
Net cash from financing activities (224,852 ) (375,547 )

Increase/(decrease) in cash and cash equivalents 972,694 (274,824 )
Cash and cash equivalents at beginning of
year

2

3,934,857

4,209,681

Cash and cash equivalents at end of year 2 4,907,551 3,934,857

Langland Holdings Limited (Registered number: 10485231)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 January 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.1.23 31.1.22
£    £   
Profit before taxation 1,544,282 1,416,689
Depreciation charges 33,269 32,022
Loss on disposal of fixed assets 48,172 108
Loss on revaluation of fixed assets 40,589 52,764
Government grants (244,321 ) (247,533 )
Finance costs 2 -
Finance income (30,459 ) (15,102 )
1,391,534 1,238,948
Decrease/(increase) in trade and other debtors 21,501 (95,140 )
Increase in trade and other creditors 27,890 12,885
Cash generated from operations 1,440,925 1,156,693

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 4,907,551 3,934,857
Year ended 31 January 2022
31.1.22 1.2.21
£    £   
Cash and cash equivalents 3,934,857 4,209,681


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.22 Cash flow At 31.1.23
£    £    £   
Net cash
Cash at bank and in hand 3,934,857 972,694 4,907,551
3,934,857 972,694 4,907,551
Total 3,934,857 972,694 4,907,551

Langland Holdings Limited (Registered number: 10485231)

Notes to the Consolidated Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Langland Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

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 the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The functional and presentational currency of the group is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

- Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures;
- Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' - Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
- Section 33 'Related Party Disclosures' - Compensation for key management personnel.

Going concern
After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. The group therefore continues to adopt the going concern basis in preparing its financial statements.

Basis of consolidation
Business combinations are accounted for using the acquisition method. The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed, and of equity instruments issued, plus costs directly attributable to the business combination.

The consolidated financial statements incorporate those of Langland Holdings Limited and its subsidiary, Langland Care Limited (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits).

All financial statements are made up to 31 January 2023 and have consistent accounting policies.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Langland Holdings Limited (Registered number: 10485231)

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

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Other income
Dividend income is recognised when the right to receive payment is established.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been amortised in full.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - at varying rates on cost
Motor vehicles - 25% on cost

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Investments
Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account.

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Cash and cash equivalents
Cash and cash equivalents comprise bank balances and cash on hand. These are carried in the balance sheet at face value.


Langland Holdings Limited (Registered number: 10485231)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation 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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to the profit and loss account in the period to which they relate.

Provisions for liabilities
Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in the profit and loss account in the period it arises.

Dividends
Dividends are recognised as liabilities once they are no longer at the discretion of the company.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group and is generated solely within the United Kingdom.

4. EMPLOYEES AND DIRECTORS
31.1.23 31.1.22
£    £   
Wages and salaries 1,971,625 1,551,051
Social security costs 178,721 109,529
Other pension costs 25,919 19,917
2,176,265 1,680,497

Langland Holdings Limited (Registered number: 10485231)

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

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31.1.23 31.1.22

Directors 3 3
Care and administration 81 77
84 80

31.1.23 31.1.22
£    £   
Directors' remuneration 8,584 8,584

5. OPERATING PROFIT

The operating profit is stated after charging:

31.1.23 31.1.22
£    £   
Depreciation - owned assets 33,269 32,022
Loss on disposal of fixed assets 48,172 108
Auditors' remuneration 8,400 9,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.1.23 31.1.22
£    £   
Interest payable 2 -

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.1.23 31.1.22
£    £   
Current tax:
UK corporation tax 307,190 275,972

Deferred tax 7,332 2,217
Tax on profit 314,522 278,189

Langland Holdings Limited (Registered number: 10485231)

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

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.1.23 31.1.22
£    £   
Profit before tax 1,544,282 1,416,689
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2022 - 19 %)

293,414

269,171

Effects of:
Expenses not deductible for tax purposes 18,280 11,688
Income not taxable for tax purposes (1,509 ) (506 )
Capital allowances in excess of depreciation (2,995 ) (4,381 )
Deferred tax 7,332 2,217
Total tax charge 314,522 278,189

8. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
31.1.23 31.1.22
£    £   
Ordinary shares of 0.1p each
Interim 60,000 56,000
Ordinary A shares of 0.1p each
Interim 41,500 41,000
101,500 97,000

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 300,000
AMORTISATION
At 1 February 2022
and 31 January 2023 300,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

Langland Holdings Limited (Registered number: 10485231)

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

11. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 February 2022 114,942 43,299 222,112 18,000 398,353
Additions - 6,488 30,092 - 36,580
Disposals - (498 ) (11,638 ) - (12,136 )
At 31 January 2023 114,942 49,289 240,566 18,000 422,797
DEPRECIATION
At 1 February 2022 10,444 19,573 133,937 18,000 181,954
Charge for year 2,299 6,532 24,438 - 33,269
Eliminated on disposal - (373 ) (9,116 ) - (9,489 )
At 31 January 2023 12,743 25,732 149,259 18,000 205,734
NET BOOK VALUE
At 31 January 2023 102,199 23,557 91,307 - 217,063
At 31 January 2022 104,498 23,726 88,175 - 216,399

12. FIXED ASSET INVESTMENTS

Group
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 February 2022 644,250 5,572,028 6,216,278
Additions 240,544 - 240,544
Disposals (278,357 ) - (278,357 )
Movement in capital account - (1,667 ) (1,667 )
Impairments (40,589 ) - (40,589 )
At 31 January 2023 565,848 5,570,361 6,136,209
NET BOOK VALUE
At 31 January 2023 565,848 5,570,361 6,136,209
At 31 January 2022 644,250 5,572,028 6,216,278

Cost or valuation at 31 January 2023 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2023 (36,011 ) - (36,011 )
Cost 601,859 5,570,361 6,172,220
565,848 5,570,361 6,136,209

Langland Holdings Limited (Registered number: 10485231)

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

12. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST
At 1 February 2022 2 5,572,028 5,572,030
Movement in capital account - (1,667 ) (1,667 )
At 31 January 2023 2 5,570,361 5,570,363
NET BOOK VALUE
At 31 January 2023 2 5,570,361 5,570,363
At 31 January 2022 2 5,572,028 5,572,030


13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
31.1.23 31.1.22
£    £   
Trade debtors 103,599 125,219
Other debtors 31,836 6,170
Prepayments 508 389
135,943 131,778

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.1.23 31.1.22 31.1.23 31.1.22
£    £    £    £   
Trade creditors 47,256 53,689 - -
Tax 166,729 90,750 3,981 2,253
Social security and other taxes 39,614 33,402 - -
Other creditors 9,865 5,021 - -
Directors' current accounts 2,061,485 2,403,492 2,061,485 2,403,492
Accruals and deferred income 99,596 88,557 - -
Accrued expenses 126,689 114,461 - -
2,551,234 2,789,372 2,065,466 2,405,745

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Langland Holdings Limited (Registered number: 10485231)

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

Group
Non-cancellable operating leases
31.1.23 31.1.22
£    £   
Within one year - 2,091

16. PROVISIONS FOR LIABILITIES

Group
31.1.23 31.1.22
£    £   
Deferred tax 27,034 19,702

Group
Deferred
tax
£   
Balance at 1 February 2022 19,702
Provided during year 7,332
Balance at 31 January 2023 27,034

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
3,400 Ordinary 0.1p 3 3
600 Ordinary A 0.1p 1 1
4 4

Shares rank pari passu in all respects except that dividends may be voted on one class and not another.

18. RELATED PARTY DISCLOSURES

During the period the group was charged a management fee of £20,000 (2022: £20,000) by an entity connected to key management personnel.

As at the balance sheet date £31,836 (2022: £6,170) was due from a company connected to key management personnel. The loan is interest free, repayable on demand and included in other debtors falling due within one year.

As at the balance sheet date £2,061,485 (2022: £2,403,492) was owing to key management personnel and included in other creditors falling due within one year. The loan is interest free and repayable on demand.