IRIS Accounts Production v24.2.0.383 04329878 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043298782023-03-31043298782024-03-31043298782023-04-012024-03-31043298782022-03-31043298782022-04-012023-03-31043298782023-03-3104329878ns15:EnglandWales2023-04-012024-03-3104329878ns14:PoundSterling2023-04-012024-03-3104329878ns10:Director12023-04-012024-03-3104329878ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104329878ns10:SmallEntities2023-04-012024-03-3104329878ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104329878ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104329878ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104329878ns10:FullAccounts2023-04-012024-03-3104329878ns10:Director22023-04-012024-03-3104329878ns10:Director32023-04-012024-03-3104329878ns10:RegisteredOffice2023-04-012024-03-3104329878ns5:CurrentFinancialInstruments2024-03-3104329878ns5:CurrentFinancialInstruments2023-03-3104329878ns5:Non-currentFinancialInstruments2024-03-3104329878ns5:Non-currentFinancialInstruments2023-03-3104329878ns5:ShareCapital2024-03-3104329878ns5:ShareCapital2023-03-3104329878ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3104329878ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3104329878ns5:RetainedEarningsAccumulatedLosses2024-03-3104329878ns5:RetainedEarningsAccumulatedLosses2023-03-3104329878ns5:FurnitureFittings2023-04-012024-03-3104329878ns5:FurnitureFittings2023-03-3104329878ns5:FurnitureFittings2024-03-3104329878ns5:FurnitureFittings2023-03-3104329878ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-3104329878ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3104329878ns5:Secured2024-03-3104329878ns5:Secured2023-03-3104329878ns5:AcceleratedTaxDepreciationDeferredTax2024-03-3104329878ns5:AcceleratedTaxDepreciationDeferredTax2023-03-3104329878ns5:RevaluationInvestmentPropertyDeferredTax2024-03-3104329878ns5:RevaluationInvestmentPropertyDeferredTax2023-03-3104329878ns5:DeferredTaxation2023-03-3104329878ns5:DeferredTaxation2023-04-012024-03-3104329878ns5:DeferredTaxation2024-03-3104329878ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-31
REGISTERED NUMBER: 04329878 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LEDDEN PROPERTIES LIMITED

LEDDEN PROPERTIES LIMITED (REGISTERED NUMBER: 04329878)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEDDEN PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr David Andrew Ledden
Mrs Patricia Bernadette Ledden
Mr Gerard Michael Ledden





REGISTERED OFFICE: Crown Arcade
Crown Garage
Back Albion Road
Scarborough
North Yorkshire
YO11 2BT





REGISTERED NUMBER: 04329878 (England and Wales)





ACCOUNTANTS: Fortus Limited
Business Advisors & Accountants
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU

LEDDEN PROPERTIES LIMITED (REGISTERED NUMBER: 04329878)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,120 1,400
Investment property 5 1,281,000 1,241,000
1,282,120 1,242,400

CURRENT ASSETS
Debtors 6 259 1,341
Cash at bank 12,588 64,016
12,847 65,357
CREDITORS
Amounts falling due within one year 7 65,189 92,468
NET CURRENT LIABILITIES (52,342 ) (27,111 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,229,778 1,215,289

CREDITORS
Amounts falling due after more than one
year

8

-

(93,483

)

PROVISIONS FOR LIABILITIES 10 (71,330 ) (62,700 )
NET ASSETS 1,158,448 1,059,106

CAPITAL AND RESERVES
Called up share capital 400 400
Fair value reserve 11 359,401 327,750
Retained earnings 798,647 730,956
1,158,448 1,059,106

LEDDEN PROPERTIES LIMITED (REGISTERED NUMBER: 04329878)

BALANCE SHEET - continued
31 MARCH 2024


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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





Mr Gerard Michael Ledden - Director


LEDDEN PROPERTIES LIMITED (REGISTERED NUMBER: 04329878)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Ledden Properties 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 (£).


The level of rounding used in the financial statements is to the nearest £1.

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 represents rental income arising from investment properties and is recognised on a straight line basis over the lease term.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment properties are properties held to earn rentals or for capital appreciation or both.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. Deferred taxation is provided on these gains.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 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.

LEDDEN PROPERTIES LIMITED (REGISTERED NUMBER: 04329878)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Going concern - basis of preparation
In assessing the appropriateness of the application of the going concern basis, the directors have considered the uncertainties around the general economic environment, the current and future trading performance of the company and available cash. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, accordingly they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 2,000
DEPRECIATION
At 1 April 2023 600
Charge for year 280
At 31 March 2024 880
NET BOOK VALUE
At 31 March 2024 1,120
At 31 March 2023 1,400

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,241,000
Revaluations 40,000
At 31 March 2024 1,281,000
NET BOOK VALUE
At 31 March 2024 1,281,000
At 31 March 2023 1,241,000

LEDDEN PROPERTIES LIMITED (REGISTERED NUMBER: 04329878)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY - continued

Investment properties included at fair value would have been included on a historical cost basis at:

2024 2023
£ £

Cost 850,549 850,549

The completed investment properties are stated at fair value in accordance with the requirements of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''.

The investment properties have been valued by the directors at fair value taking into account existing tenancy arrangements .

During the year an increase in the fair value of investment properties of £40,000 has been included directly in the profit and loss account.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 259 1,341

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 29,400
Trade creditors 26 121
Amounts owed to group undertakings 20,000 24,060
Corporation tax 22,841 16,725
Other creditors 20,048 19,514
Accrued expenses 2,274 2,648
65,189 92,468

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans falling due within one to two
years

-

93,483

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 122,883

The company's bank borrowings are secured by a fixed and floating charge over the company's assets and a first legal charge over the investment properties.

LEDDEN PROPERTIES LIMITED (REGISTERED NUMBER: 04329878)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 280 -
Deferred tax on investment property 71,050 62,700
71,330 62,700

Deferred
tax
£   
Balance at 1 April 2023 62,700
Provided during year 8,630
Balance at 31 March 2024 71,330

11. RESERVES
Fair
value
reserve
£   
At 1 April 2023 327,750
Revaluation of investment property 40,001
Deferred tax on investment property (8,350 )

At 31 March 2024 359,401

12. CONTROLLING PARTY

The company's ultimate parent undertaking is Crown Properties (Scarborough) Group Limited whose
registered office is Crown Garage, Back Albion Road, Scarborough, YO11 2BT.