Company registration number 05548499 (England and Wales)
LITTON HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LITTON HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
LITTON HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
467,926
480,926
Current assets
Debtors
6
6,449,678
6,234,580
Cash at bank and in hand
4,892
3,297
6,454,570
6,237,877
Creditors: amounts falling due within one year
7
(61,736)
(44,084)
Net current assets
6,392,834
6,193,793
Total assets less current liabilities
6,860,760
6,674,719
Creditors: amounts falling due after more than one year
8
(284,152)
(262,675)
Net assets
6,576,608
6,412,044
Capital and reserves
Called up share capital
9
11,360
11,360
Profit and loss reserves
6,565,248
6,400,684
Total equity
6,576,608
6,412,044

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 16 August 2024 and are signed on its behalf by:
W M D Twelves
Director
Company registration number 05548499 (England and Wales)
LITTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Litton Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Offices 5 -7 Lumford Mill, Riverside Business Park, Buxton Road, Bakewell, Derbyshire, DE45 1GS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

LITTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LITTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Fixed asset investments
2024
2023
£
£
Investments
467,926
480,926
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2023 & 31 March 2024
480,926
Impairment
At 1 April 2023
-
Impairment losses
13,000
At 31 March 2024
13,000
Carrying amount
At 31 March 2024
467,926
At 31 March 2023
480,926
LITTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Andak Securities Limited
Lumford Mill, Riverside Business Park DE45 1GS
Dormant
Ordinary
100.00
Litton (Archer Road) Limited
As above
Deriving income and gains from property
Ordinary
100.00
Litton (Brunswick Park) Limited**
As above
Deriving income and gains from property
Ordinary
100.00
Litton (Donington) Limited*
As above
Deriving income and gains from property
Ordinary
100.00
Litton (Greenland Road) Limited
As above
Deriving income and gains from property
Ordinary
100.00
Litton (Hellaby) Limited
As above
Deriving income and gains from property
Ordinary
100.00
Litton (Parkgate) Limited
As above
Deriving income and gains from property
Ordinary
100.00
Litton Investments Limited*
As above
Dormant
Ordinary
100.00
Litton Properties Limited
As above
Deriving income and gains from property
Ordinary
100.00
Riverside Business Park Limited
As above
Deriving income and gains from property
Ordinary
100.00
Litton Energy Limited
As above
Deriving income from renewable energy
Ordinary
100.00
Litton Construction Limited
As above
Construction of commercial buildings
Ordinary
100.00
Litton Homes Limited
As above
Dormant
Ordinary
100.00

 

* The following accounting periods are not co-terminus with Litton Holdings Limited:

 

 

** Litton (Brunswick Park) Limited was dissolved on 28 May 2024.

5
Associates

Details of the company's associates at 31 March 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Litton (Thame) Limited
Lumford Mill, Riverside Business Park, DE45 1GS
Deriving income and gains from property
Ordinary
50.00
Derby Estates Limited
As above
Dormant
Ordinary
50.00
Litton Buccleuch (WMPE) Limited
As above
Deriving income and gains from property
Ordinary
50.00

 

LITTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
-
0
17,956
Other debtors
2,503
3,167
2,503
21,123
2024
2023
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
6,447,175
6,213,457
Total debtors
6,449,678
6,234,580
7
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
9,900
-
0
Corporation tax
29,679
35,355
Other creditors
22,157
8,729
61,736
44,084
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts due to group undertakings
284,152
262,675
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares A Class of £1 each
7,000
7,000
7,000
7,000
Ordinary Shares B Class of £1 each
3,000
3,000
3,000
3,000
Ordinary Shares C Class of £1 each
1,360
1,360
1,360
1,360
11,360
11,360
11,360
11,360
LITTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
9
Called up share capital
(Continued)
- 7 -

Ordinary A, B and C shares rank equally for voting rights.

 

 

Ordinary A shares are entitled to dividend payments or any other distribution following payment of the preferential dividend to the holders of the B shares.

 

 

Ordinary B shares are entitled to a preferential dividend.

 

 

Ordinary C shares are not entitled to dividend payments or any other distributions.

 

 

Ordinary A, B and C shares are not redeemable.

10
Directors' transactions

Included within other creditors are amounts due to W M D Twelves totalling £18,200.

11
Parent company

The ultimate parent company is Scorpio Securities Limited, a company incorporated in England & Wales.

2024-03-312023-04-01false19 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityP W HarrimanW M D TwelvesW Starkfalsefalse055484992023-04-012024-03-31055484992024-03-31055484992023-03-3105548499core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3105548499core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3105548499core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3105548499core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3105548499core:CurrentFinancialInstruments2024-03-3105548499core:CurrentFinancialInstruments2023-03-3105548499core:ShareCapital2024-03-3105548499core:ShareCapital2023-03-3105548499core:RetainedEarningsAccumulatedLosses2024-03-3105548499core:RetainedEarningsAccumulatedLosses2023-03-3105548499core:ShareCapitalOrdinaryShares2024-03-3105548499core:ShareCapitalOrdinaryShares2023-03-3105548499bus:Director22023-04-012024-03-31055484992022-04-012023-03-3105548499core:Non-currentFinancialInstruments2024-03-3105548499core:Non-currentFinancialInstruments2023-03-3105548499core:WithinOneYear2024-03-3105548499core:WithinOneYear2023-03-3105548499bus:PrivateLimitedCompanyLtd2023-04-012024-03-3105548499bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105548499bus:FRS1022023-04-012024-03-3105548499bus:AuditExemptWithAccountantsReport2023-04-012024-03-3105548499bus:Director12023-04-012024-03-3105548499bus:CompanySecretary12023-04-012024-03-3105548499bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP