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REGISTERED NUMBER: 08754738 (England and Wales)














Ledden Estates (Whitby) Limited

Unaudited Financial Statements

For The Year Ended 31 March 2024






Ledden Estates (Whitby) Limited (Registered number: 08754738)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Ledden Estates (Whitby) Limited

Company Information
For The Year Ended 31 March 2024







DIRECTORS: Ms A Ledden
Miss C R Ledden
C J Ledden
Mrs H S Garnett
Miss J C Ledden
Miss T D Ledden





SECRETARY: Mrs H S Garnett





REGISTERED OFFICE: The Old Vicarage
36 North Street
Scalby
Scarborough
North Yorkshire
YO13 0RP





REGISTERED NUMBER: 08754738 (England and Wales)





ACCOUNTANTS: Ingham & Co.
Chartered Accountants
George Stanley House
2 West Parade Road
Scarborough
North Yorkshire
YO12 5ED

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ledden Estates (Whitby) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ledden Estates (Whitby) Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ledden Estates (Whitby) Limited, as a body, in accordance with the terms of our engagement letter dated 18 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Ledden Estates (Whitby) Limited and state those matters that we have agreed to state to the Board of Directors of Ledden Estates (Whitby) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ledden Estates (Whitby) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ledden Estates (Whitby) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ledden Estates (Whitby) Limited. You consider that Ledden Estates (Whitby) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ledden Estates (Whitby) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ingham & Co.
Chartered Accountants
George Stanley House
2 West Parade Road
Scarborough
North Yorkshire
YO12 5ED


19 July 2024

Ledden Estates (Whitby) Limited (Registered number: 08754738)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 571 -
Investments 5 50 50
Investment property 6 1,800,000 1,800,000
1,800,621 1,800,050

CURRENT ASSETS
Debtors 7 3,484 55,227
Cash at bank 81,757 280,712
85,241 335,939
CREDITORS
Amounts falling due within one year 8 922,093 1,290,916
NET CURRENT LIABILITIES (836,852 ) (954,977 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

963,769

845,073

PROVISIONS FOR LIABILITIES 56,659 56,516
NET ASSETS 907,110 788,557

CAPITAL AND RESERVES
Called up share capital 1,326 1,326
Fair value reserve 10 260,834 260,834
Retained earnings 644,950 526,397
SHAREHOLDERS' FUNDS 907,110 788,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Ledden Estates (Whitby) Limited (Registered number: 08754738)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 July 2024 and were signed on its behalf by:





Ms A Ledden - Director


Ledden Estates (Whitby) Limited (Registered number: 08754738)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ledden Estates (Whitby) 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 6 (2023 - 6 ) .

Ledden Estates (Whitby) Limited (Registered number: 08754738)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 2,613
Additions 857
At 31 March 2024 3,470
DEPRECIATION
At 1 April 2023 2,613
Charge for year 286
At 31 March 2024 2,899
NET BOOK VALUE
At 31 March 2024 571

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 April 2023
and 31 March 2024 50
NET BOOK VALUE
At 31 March 2024 50
At 31 March 2023 50

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,800,000
NET BOOK VALUE
At 31 March 2024 1,800,000
At 31 March 2023 1,800,000

Ledden Estates (Whitby) Limited (Registered number: 08754738)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 (7,171 )
Valuation in 2018 (39,116 )
Valuation in 2017 419
Valuation in 2016 237
Valuation in 2015 184,775
Valuation in 2014 178,206
Cost 1,482,650
1,800,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,482,650 1,482,650

Investment properties were valued on an open market basis on 31 March 2024 by Ms A Ledden .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 530
Amounts owed by joint venture - 50,000
Prepayments and accrued income 3,484 4,697
3,484 55,227

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 973,429
Trade creditors 311 139
Amounts owed to related company 600,000 -
Corporation tax 14,784 10,260
Social security and other taxes 3,618 3,750
Other creditors 5,548 296,824
Directors' current accounts 292,525 -
Accrued expenses 5,307 6,514
922,093 1,290,916

Ledden Estates (Whitby) Limited (Registered number: 08754738)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 973,429

The bank borrowings were secured by an unlimited debenture and a first legal charge over freehold investment property owned by the company.

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 260,834

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Ms A Ledden
Balance outstanding at start of year - -
Amounts advanced 1,244 -
Amounts repaid (1,244 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The above loan was unsecured, interest free and repayable on demand.

12. RELATED PARTY DISCLOSURES

Director's current accounts
Included in creditors: amounts falling due within one year is £292,525 owed to one of the directors. The loan is interest free and repayable on demand.

At 31 March 2023, included in creditors: amounts falling due within one year is £292,669 owed to the estate of a former director. The loan was interest free and repayable on demand.

Other related party transactions
Included in creditors: amounts falling due within one year is £600,000 (2023 - £Nil) owed to Ledden Estates Limited, a related company. Interest has been charged at a rate of 6.25% per annum and the loan is repayable on demand.

Included in debtors: amounts falling due within one year is £Nil (2023 - £50,000) due from BDS Properties (Yorkshire) Limited, a joint venture company. The loan is interest free and repayable on demand.