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Registered number: 02255667









LINFOOT DEVELOPMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LINFOOT DEVELOPMENTS LIMITED
REGISTERED NUMBER: 02255667

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
150,200
150,200

  
150,200
150,200

Current assets
  

Debtors: amounts falling due within one year
 6 
2,745,304
1,480,134

Cash at bank and in hand
 7 
754,701
68,763

  
3,500,005
1,548,897

Creditors: amounts falling due within one year
 8 
(53,728)
(37,736)

Net current assets
  
 
 
3,446,277
 
 
1,511,161

Total assets less current liabilities
  
3,596,477
1,661,361

  

Net assets
  
3,596,477
1,661,361


Capital and reserves
  

Called up share capital 
 9 
199
199

Profit and loss account
  
3,596,278
1,661,162

  
3,596,477
1,661,361


Page 1

 
LINFOOT DEVELOPMENTS LIMITED
REGISTERED NUMBER: 02255667
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 September 2024.




C H Linfoot McLean
Director

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 
LINFOOT DEVELOPMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2023
199
1,661,162
1,661,361


Comprehensive income for the year

Profit for the year

-
1,935,116
1,935,116


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
1,935,116
1,935,116


Total transactions with owners
-
-
-


At 31 March 2024
199
3,596,278
3,596,477


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 
LINFOOT DEVELOPMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 October 2021
199
613,603
613,802


Comprehensive income for the period

Profit for the period

-
1,047,559
1,047,559


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
1,047,559
1,047,559


Total transactions with owners
-
-
-


At 31 March 2023
199
1,661,162
1,661,361


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
LINFOOT DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Linfoot Developments Limited is a private company registered in England.
The company's registered office is The Manor House, Great Alne, Warwickshire B49 6HR.
These financial statements are presented in £ Sterling which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
LINFOOT DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
LINFOOT DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


       31 March
   18 months ended
        31 March
        2024
        2023
            No.
            No.







1
2


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
5,384



At 31 March 2024

5,384



Depreciation


At 1 April 2023
5,384



At 31 March 2024

5,384



Net book value



At 31 March 2024
-



At 31 March 2023
-

Page 7

 
LINFOOT DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
150,200



At 31 March 2024
150,200





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Linfoot Country Homes Limited
UK
Ordinary
100%
Redeemable ordinary
100%
Linfoot Homes Limited
UK
Redeemable ordinary
100%
Select Residential Investments Limited
UK
Redeemable ordinary
100%


6.


Debtors

2024
2023
£
£


Trade debtors
102,738
-

Amounts owed by group undertakings
1,922,060
1,459,041

Amounts owed by associates
20,506
20,500

Other debtors
700,000
-

Prepayments
-
593

2,745,304
1,480,134


Page 8

 
LINFOOT DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank
754,701
68,763

754,701
68,763



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,240
1,316

Amounts owed to group undertakings
19,733
100

Corporation tax
4,719
9,081

Other taxation and social security
23,654
25,897

Other creditors
257
-

Accruals
1,125
1,342

53,728
37,736



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



132 (2023 - 132) A Ordinary shares of £1.00 each
132
132
67 (2023 - 67) Ordinary shares of £1.00 each
67
67

199

199


 
Page 9