3 false false false false false false false false false false true false false false false true false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 11,700 10,092 289 10,381 1,319 1,608 8 8 8 xbrli:pure xbrli:shares iso4217:GBP 05141578 2023-01-01 2023-12-31 05141578 2023-12-31 05141578 2022-12-31 05141578 2022-01-01 2022-12-31 05141578 2022-12-31 05141578 2021-12-31 05141578 bus:Director1 2023-01-01 2023-12-31 05141578 core:MotorVehicles 2022-12-31 05141578 core:MotorVehicles 2023-12-31 05141578 core:WithinOneYear 2023-12-31 05141578 core:WithinOneYear 2022-12-31 05141578 core:ShareCapital 2023-12-31 05141578 core:ShareCapital 2022-12-31 05141578 core:RetainedEarningsAccumulatedLosses 2023-12-31 05141578 core:RetainedEarningsAccumulatedLosses 2022-12-31 05141578 core:MotorVehicles 2023-01-01 2023-12-31 05141578 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 05141578 core:Non-currentFinancialInstruments 2023-12-31 05141578 core:Non-currentFinancialInstruments 2022-12-31 05141578 core:MotorVehicles 2022-12-31 05141578 bus:SmallEntities 2023-01-01 2023-12-31 05141578 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05141578 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05141578 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05141578 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 05141578
Latymer Land and Property Limited
Filleted Unaudited Financial Statements
31 December 2023
Latymer Land and Property Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,319
1,608
Investments
6
8
8
-------
-------
1,327
1,616
Current assets
Stocks
719,851
Debtors
7
52,853
166,599
Cash at bank and in hand
9,174
28,941
---------
---------
781,878
195,540
Creditors: amounts falling due within one year
8
1,219,703
620,989
------------
---------
Net current liabilities
437,825
425,449
---------
---------
Total assets less current liabilities
( 436,498)
( 423,833)
---------
---------
Net liabilities
( 436,498)
( 423,833)
---------
---------
Capital and reserves
Called up share capital
10
10
Profit and loss account
( 436,508)
( 423,843)
---------
---------
Shareholders deficit
( 436,498)
( 423,833)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Latymer Land and Property Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mr C S Clarke
Director
Company registration number: 05141578
Latymer Land and Property Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Amersfort Hall, The Common, Potten End, Hertfordshire, HP4 2QF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Fixed Asset investments are stated at cost less provision for permanent diminution in value.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Motor vehicles
Total
£
£
Cost
At 1 January 2023 and 31 December 2023
11,700
11,700
--------
--------
Depreciation
At 1 January 2023
10,092
10,092
Charge for the year
289
289
--------
--------
At 31 December 2023
10,381
10,381
--------
--------
Carrying amount
At 31 December 2023
1,319
1,319
--------
--------
At 31 December 2022
1,608
1,608
--------
--------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
8
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
8
----
At 31 December 2022
8
----
The company owns 100% of the issued share capital of Latymer Consulting Limited and 70% of Latymer(Chequers) Limited. Both are incorporated in England and Wales and the nature of business of Latymer (Chequers) Limited is the development and sale of real estate, and for Latymer Consulting Limited business consultancy.
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
7. Debtors
2023
2022
£
£
Trade debtors
40,839
44,900
Amounts owed by group undertakings and undertakings in which the company has a participating interest
117,699
Other debtors
12,014
4,000
--------
---------
52,853
166,599
--------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
44,305
1,923
Amounts owed to group undertakings and undertakings in which the company has a participating interest
( 911)
Social security and other taxes
8,958
Other creditors
1,176,309
610,108
------------
---------
1,219,703
620,989
------------
---------
9. Related party transactions
The company was under the control of Mr C S C Clarke throughout the current and previous year. The company owed its directors £1,169,800, (2022:£608,518) Latymer Consulting Limited owes the company £910, (2022:£80,903). No interest is charged on intercompany loans.