REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 September 2023 |
for |
Loxton Developments Limited |
REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 September 2023 |
for |
Loxton Developments Limited |
Loxton Developments Limited (Registered number: 02171248) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Loxton Developments Limited |
Company Information |
for the Year Ended 30 September 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditors |
Keepers Lane |
The Wergs |
Wolverhampton |
West Midlands |
WV6 8UA |
Loxton Developments Limited (Registered number: 02171248) |
Balance Sheet |
30 September 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Revaluation reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Loxton Developments Limited (Registered number: 02171248) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
Loxton Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Loxton Developments Limited (Registered number: 02171248) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 October 2022 |
Additions |
Disposals | ( |
) | ( |
) |
Revaluations |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Cost or valuation at 30 September 2023 is represented by: |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
Valuation in 2023 | 12,375,499 | - | 12,375,499 |
Cost | 20,512,200 | 278,403 | 20,790,603 |
32,887,699 | 278,403 | 33,166,102 |
The majority of the properties were valued at open market value by Colliers in February 2020 and by CBRE in January 2024. The directors have updated these values in conjunction with current levels of occupancy. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Loxton Developments Limited (Registered number: 02171248) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 October 2022 |
Transfer from reval'n reserve | 2,291,430 |
At 30 September 2023 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |