LDA Developments Limited 10521498 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is property development Digita Accounts Production Advanced 6.30.9574.0 true true 10521498 2022-12-01 2023-11-30 10521498 2023-11-30 10521498 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-11-30 10521498 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-11-30 10521498 core:CurrentFinancialInstruments 2023-11-30 10521498 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 10521498 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 10521498 bus:SmallEntities 2022-12-01 2023-11-30 10521498 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 10521498 bus:FilletedAccounts 2022-12-01 2023-11-30 10521498 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 10521498 bus:RegisteredOffice 2022-12-01 2023-11-30 10521498 bus:Director2 2022-12-01 2023-11-30 10521498 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 10521498 countries:England 2022-12-01 2023-11-30 10521498 2021-12-01 2022-11-30 10521498 2022-11-30 10521498 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-11-30 10521498 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-11-30 10521498 core:CurrentFinancialInstruments 2022-11-30 10521498 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 10521498 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 10521498

LDA Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

LDA Developments Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

LDA Developments Limited

(Registration number: 10521498)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

144,671

100,617

Current assets

 

Debtors

4

42,071

43,224

Cash at bank and in hand

 

92,240

140,233

 

134,311

183,457

Creditors: Amounts falling due within one year

5

(92,588)

(226,031)

Net current assets/(liabilities)

 

41,723

(42,574)

Total assets less current liabilities

 

186,394

58,043

Creditors: Amounts falling due after more than one year

5

(52,056)

(19,830)

Provisions for liabilities

(25,123)

(19,117)

Net assets

 

109,215

19,096

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

109,115

18,996

Shareholders' funds

 

109,215

19,096

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 April 2024
 

.........................................
DJ Lucas
Director

 

LDA Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Silverstone House
1 Maplefields
Barrells Road
Bury St Edmunds
Suffolk
IP31 3GD
United Kingdom

These financial statements were authorised for issue by the director on 15 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

LDA Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade debtors are amounts due from customers for sales performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

LDA Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 4).

4

Debtors

 

LDA Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Current

2023
£

2022
£

Trade Debtors

1

-

Prepayments

8,745

9,099

Other debtors

33,325

34,125

 

42,071

43,224

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

24,653

7,371

Trade Creditors

 

16,481

109,141

Taxation and social security

 

17,366

7,425

Other creditors

 

34,088

102,094

 

92,588

226,031

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

52,056

19,830

6

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

52,056

19,830

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

372

372

Hire purchase contracts

24,281

6,999

24,653

7,371