IRIS Accounts Production v24.2.0.383 08876740 director 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh088767402023-03-31088767402024-03-31088767402023-04-012024-03-31088767402022-03-31088767402022-04-012023-03-31088767402023-03-3108876740ns15:EnglandWales2023-04-012024-03-3108876740ns14:PoundSterling2023-04-012024-03-3108876740ns10:Director12023-04-012024-03-3108876740ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108876740ns10:SmallEntities2023-04-012024-03-3108876740ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3108876740ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108876740ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108876740ns10:FullAccounts2023-04-012024-03-3108876740ns10:RegisteredOffice2023-04-012024-03-3108876740ns5:CurrentFinancialInstruments2024-03-3108876740ns5:CurrentFinancialInstruments2023-03-3108876740ns5:Non-currentFinancialInstruments2024-03-3108876740ns5:Non-currentFinancialInstruments2023-03-3108876740ns5:ShareCapital2024-03-3108876740ns5:ShareCapital2023-03-3108876740ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3108876740ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3108876740ns5:RetainedEarningsAccumulatedLosses2024-03-3108876740ns5:RetainedEarningsAccumulatedLosses2023-03-3108876740ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108876740ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108876740ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3108876740ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3108876740ns5:Secured2024-03-3108876740ns5:Secured2023-03-3108876740ns5:RetainedEarningsAccumulatedLosses2023-03-3108876740ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3108876740ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 08876740 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LANDMARK PROPERTY (PECKHAM) LIMITED

LANDMARK PROPERTY (PECKHAM) LIMITED (REGISTERED NUMBER: 08876740)

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










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


LANDMARK PROPERTY (PECKHAM) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: K D Jatania





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 08876740 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LANDMARK PROPERTY (PECKHAM) LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Landmark Property (Peckham) Limited for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Landmark Property (Peckham) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Landmark Property (Peckham) Limited and state those matters that we have agreed to state to the director of Landmark Property (Peckham) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Landmark Property (Peckham) Limited and its director for our work or for this report.

It is your duty to ensure that Landmark Property (Peckham) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Landmark Property (Peckham) Limited. You consider that Landmark Property (Peckham) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Landmark Property (Peckham) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


18 September 2024

LANDMARK PROPERTY (PECKHAM) LIMITED (REGISTERED NUMBER: 08876740)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,800,000 1,800,000

CURRENT ASSETS
Debtors 5 1,197 1,173
Cash at bank 38,272 37,223
39,469 38,396
CREDITORS
Amounts falling due within one year 6 350,147 301,393
NET CURRENT LIABILITIES (310,678 ) (262,997 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,489,322

1,537,003

CREDITORS
Amounts falling due after more than one year 7 (900,000 ) (950,000 )

PROVISIONS FOR LIABILITIES (12,175 ) (12,175 )
NET ASSETS 577,147 574,828

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 201,061 201,061
Retained earnings 9 375,986 373,667
SHAREHOLDERS' FUNDS 577,147 574,828

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 director acknowledges his 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.

LANDMARK PROPERTY (PECKHAM) LIMITED (REGISTERED NUMBER: 08876740)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





K D Jatania - Director


LANDMARK PROPERTY (PECKHAM) LIMITED (REGISTERED NUMBER: 08876740)

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


1. STATUTORY INFORMATION

Landmark Property (Peckham) 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.

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 receivable, net of value added tax.

Turnover is recognised when the company has a right to consideration.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Fair value reserve
Surpluses arising from the valuation of properties are transferred to the fairvalue reserve. Deficits are
eliminated against any fairvalue reserve in respect of that income generating unit with any excess, to the extent that it represents an impairment, being charged to statement of comprehensive income. Surpluses or deficits realised on the disposal of an asset are transferred from the fairvalue reserve to the profit and loss account.Provision for deferred has been recognised on revaluation of investment properties

LANDMARK PROPERTY (PECKHAM) LIMITED (REGISTERED NUMBER: 08876740)

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


2. ACCOUNTING POLICIES - continued

Capital contribution
All long term financing transactions from the parent company are recorded at present value, using market rate for similar debt instrument in accordance with FRS102. The difference in the present value and book value is recognised in the capital contribution account. The notional interest charged during the year to increase the present value of the loan is charged to profit and loss account and then transferred from profit and loss reserve to capital contribution

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,800,000
NET BOOK VALUE
At 31 March 2024 1,800,000
At 31 March 2023 1,800,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 313,237
Valuation in 2023 (100,000 )
Cost 1,586,763
1,800,000

The investment properties were valued on an open market basis on 31 March 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 100 100
Prepayments 1,097 1,073
1,197 1,173

LANDMARK PROPERTY (PECKHAM) LIMITED (REGISTERED NUMBER: 08876740)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 237,000 246,000
Tax 544 7,147
VAT 2,229 2,440
Other creditors 65,033 19,204
Directors' current accounts 12,977 11,852
Accruals and deferred income 32,364 14,750
350,147 301,393

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 900,000 950,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 900,000 950,000

The bank loan is secured over the company's investment property and by a limited guarantee by the shareholders. The loan is repayable in full by July 2028 and interest is charged at 2.60% above the base rate per annum.

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 373,667 201,061 574,728
Profit for the year 2,319 2,319
At 31 March 2024 375,986 201,061 577,047

10. RELATED PARTY DISCLOSURES

At the year end, the company owed £237,000 (2023: £246,000) to the shareholders of the company. This is interest-free and repayable on demand.