Registered number
04391173
Leicester Estates Ltd
Filleted Accounts
31 March 2023
Leicester Estates Ltd
Registered number: 04391173
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,053,990 908,248
Investments 4 41,724 40,322
1,095,714 948,570
Current assets
Debtors 5 11,790 9,470
Cash at bank and in hand 11,290 6,834
23,080 16,304
Creditors: amounts falling due within one year 6 (116,689) (87,511)
Net current liabilities (93,609) (71,207)
Total assets less current liabilities 1,002,105 877,363
Creditors: amounts falling due after more than one year 7 (791,275) (663,796)
Net assets 210,830 213,567
Capital and reserves
Called up share capital 50 50
Revaluation reserve 8 185,644 185,644
Profit and loss account 25,136 27,873
Shareholders' funds 210,830 213,567
The director is 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 director acknowledges his 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.
M Rudzinski
Director
Approved by the board on 18 July 2024
Leicester Estates Ltd
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).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022 908,248
Additions 145,742
At 31 March 2023 1,053,990
Depreciation
At 31 March 2023 -
Net book value
At 31 March 2023 1,053,990
At 31 March 2022 908,248
Freehold land and buildings: 2023 2022
£ £
Historical cost 630,253 630,253
Cumulative depreciation based on historical cost - -
630,253 630,253
4 Investments
Other
investments
£
Cost
At 1 April 2022 40,322
Additions 1,402
At 31 March 2023 41,724
5 Debtors 2023 2022
£ £
Trade debtors 790
Other debtors 11,000 9,470
11,790 9,470
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,187 17,413
Taxation and social security costs 5,572 5,572
Other creditors 109,930 64,526
116,689 87,511
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 791,275 663,796
8 Revaluation reserve 2023 2022
£ £
At 1 April 2022 185,644 185,644
At 31 March 2023 185,644 185,644
9 Other information
Leicester Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
c/o B Olsberg & Co
Enterprise House
3 Middleton Rd
Manchester
M8 5DT
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