Registered number
06540819
Little Orchard Leasing Limited
Filleted Accounts
31 March 2023
Little Orchard Leasing Limited
Registered number: 06540819
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Partnership interests 3 17,989,208 17,374,617
Current assets
Cash at bank and in hand 4,064 6,727
Creditors: amounts falling due within one year 6 (116,794) (88,843)
Net current liabilities (112,730) (82,116)
Total assets less current liabilities 17,876,478 17,292,501
Creditors: amounts falling due after more than one year 7 (7,500,000) (7,500,000)
Net assets 10,376,478 9,792,501
Capital and reserves
Called up share capital 54,475 54,475
Share premium 5,438,608 5,438,608
Profit and loss account 4,883,395 4,299,418
Shareholders' funds 10,376,478 9,792,501
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.
B Parkander
Director
Approved by the board on 19 January 2024
Little Orchard Leasing Limited
Notes to the Accounts
for the year ended 31 March 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).
Income
Income is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Income comprises the company’s share of partnership profits.
Partnership interests
The interest in Triple Point Lease Partners (TPLP) and Generations Navigator LLP (GN) comprises the equity subscribed less initial profit share plus profit shares declared by TPLP and GN and less any amounts withdrawn by the company.
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
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it excludes items that are never taxable or deductible. The company’s liability for the current year is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
The company had no employees during the year other than the directors.
3 Partnership interests 2023 2022
£ £
Brought forward 17,374,617 16,880,576
Profit in period 702,591 574,041
Withdrawn/ Costs in period (88,000) (80,000)
17,989,208 17,374,617
Partnership interests represent the Company's interests in Triple Point Lease Partners and Generations Navigator LLP, details of which are disclosed in notes 4 and 5.
4 Partnership interest in Triple Point Lease Partners 2023 2022
£ £
Brought forward 15,930,227 15,508,942
Profit in period 602,085 493,285
Withdrawn/ Costs in period (79,200) (72,000)
16,453,112 15,930,227
5 Partnership interest in Generations Navigator LLP 2023 2022
£ £
Brought forward 1,444,390 1,371,634
Profit in period 100,506 80,756
Withdrawn/ Costs in period (8,800) (8,000)
1,536,096 1,444,390
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 120 156
Corporation tax 115,924 87,876
Other creditors 750 811
116,794 88,843
7 Creditors: amounts falling due after one year 2023 2022
£ £
Loan notes 7,500,000 7,500,000
The loan note instruments carry voting rights, no interest and represent unsecured indebtness of the Company which rank pari passu with other unsecured creditors of the Company. The notes are redeemable at par by the Company, upon giving not less than 3 years prior notice by either party except for on liquidation or winding up of the Company when they are due immediately.
8 Related party transactions
At the reporting date, the company owed B Parkander £7,500,000 (2022: £7,500,000). No interest was charged on the loan during the year.
9 Controlling party
B Parkander is the ultimate controlling party by virtue of his 99.9% shareholding.
10 Other information
Little Orchard Leasing Limited is a private company limited by shares and incorporated in England. Its registered office is:
250 Fowler Avenue
Farnborough
Hampshire
England
GU14 7JP
Little Orchard Leasing Limited 06540819 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 B Parkander No description of principal activity 06540819 2021-04-01 2022-03-31 06540819 core:WithinOneYear 2022-03-31 06540819 core:AfterOneYear 2022-03-31 06540819 core:ShareCapital 2022-03-31 06540819 core:SharePremium 2022-03-31 06540819 core:RetainedEarningsAccumulatedLosses 2022-03-31 06540819 2022-04-01 2023-03-31 06540819 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06540819 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06540819 bus:Director40 2022-04-01 2023-03-31 06540819 1 2022-04-01 2023-03-31 06540819 2 2022-04-01 2023-03-31 06540819 countries:England 2022-04-01 2023-03-31 06540819 bus:FRS102 2022-04-01 2023-03-31 06540819 bus:FullAccounts 2022-04-01 2023-03-31 06540819 2023-03-31 06540819 core:WithinOneYear 2023-03-31 06540819 core:AfterOneYear 2023-03-31 06540819 core:ShareCapital 2023-03-31 06540819 core:SharePremium 2023-03-31 06540819 core:RetainedEarningsAccumulatedLosses 2023-03-31 06540819 2022-03-31 iso4217:GBP xbrli:pure