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REGISTERED NUMBER: 09796133 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

LADYBELLEGATE ESTATES LIMITED

LADYBELLEGATE ESTATES LIMITED (REGISTERED NUMBER: 09796133)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LADYBELLEGATE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: K P Elliott
S A Mansfield





SECRETARY: A Rice





REGISTERED OFFICE: First Floor
Southgate House
Southgate Street
Gloucester
GL1 1UB





REGISTERED NUMBER: 09796133 (England and Wales)





AUDITORS: CMB Partnership Limited
Chartered Accountants and Statutory Auditor
7 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU

LADYBELLEGATE ESTATES LIMITED (REGISTERED NUMBER: 09796133)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   
CURRENT ASSETS
Stocks 3 1,875,318 3,504,322
Debtors 4 646,644 19,814
Cash at bank 731,894 78,069
3,253,856 3,602,205
CREDITORS
Amounts falling due within one year 5 1,160,363 1,525,229
NET CURRENT ASSETS 2,093,493 2,076,976
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,093,493

2,076,976

CREDITORS
Amounts falling due after more than one
year

6

2,350,000

2,300,000
NET LIABILITIES (256,507 ) (223,024 )

CAPITAL AND RESERVES
Called up share capital 7 4 4
Retained earnings (256,511 ) (223,028 )
SHAREHOLDERS' FUNDS (256,507 ) (223,024 )

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 23 August 2024 and were signed on its behalf by:





S A Mansfield - Director


LADYBELLEGATE ESTATES LIMITED (REGISTERED NUMBER: 09796133)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
Ladybellegate Estates Limited is a private company, limited by shares, registered in England and Wales under the Companies Act. The company's registered number is 09796133. The address of the registered office is as follows:

First Floor
Southgate House
Southgate Street
Gloucester
GL1 1UB

The company's functional and presentational currency is pound sterling.

Turnover
Turnover represents rent receivable exclusive of vat.

Stocks
Work in progress represents expenditure on a project to develop a site and is valued at the lower of cost and net realisable value. Cost includes direct expenditure, interest and applicable outgoings associated with bringing the site to its present condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Debt instruments that are payable or receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss 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.

Interest income
Interest income is recognised using the effective interest method.

LADYBELLEGATE ESTATES LIMITED (REGISTERED NUMBER: 09796133)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like fixtures and fittings are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock is compared with its selling price less costs to complete and sell. If an item of stock is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

Going concern
The company meets its day to day working capital requirement through its bank accounts. The company's forecasts and projections taking into account possible changes in trading performance, show that the company should be able to operate within the level of its current facilities. The directors therefore have a reasonable expectation that the company has adequate resources to continue its operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing the financial statements.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

3. STOCKS
30.11.23 30.11.22
£    £   
Work-in-progress 1,875,318 3,504,322

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 5,311 -
Other debtors 641,333 19,814
646,644 19,814

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 31,312 46,723
Taxation and social security 561,697 8
Other creditors 567,354 1,478,498
1,160,363 1,525,229

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Other creditors 2,350,000 2,300,000

LADYBELLEGATE ESTATES LIMITED (REGISTERED NUMBER: 09796133)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
4 Ordinary £1 4 4

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Martin (Senior Statutory Auditor)
for and on behalf of CMB Partnership Limited

9. RELATED PARTY DISCLOSURES

At 30 November 2023 the company owed the directors £184,685 (2022: £160,085).

At 30 November 2023 the company owed £2,350,000 (2022: £2,300,000) to related parties.