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Company No: 01111763 (England and Wales)

LIDDELL ENTERPRISES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

LIDDELL ENTERPRISES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

LIDDELL ENTERPRISES LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
LIDDELL ENTERPRISES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Dr W G Liddell
Dr MH MacDougall
SECRETARY Dr MH MacDougall
REGISTERED OFFICE Westover Farmhouse
Goodworth Clatford
Andover
SP11 7LF
United Kingdom
COMPANY NUMBER 01111763 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
LIDDELL ENTERPRISES LIMITED

BALANCE SHEET

As at 31 March 2024
LIDDELL ENTERPRISES LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,153,202 3,148,494
Investments 4 724 724
3,153,926 3,149,218
Current assets
Debtors 5 957,367 876,403
Cash at bank and in hand 254,549 319,197
1,211,916 1,195,600
Creditors: amounts falling due within one year 6 ( 66,658) ( 55,872)
Net current assets 1,145,258 1,139,728
Total assets less current liabilities 4,299,184 4,288,946
Net assets 4,299,184 4,288,946
Capital and reserves
Called-up share capital 7 328 328
Share premium account 2,374,434 2,374,434
Profit and loss account 1,924,422 1,914,184
Total shareholders' funds 4,299,184 4,288,946

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

Directors' responsibilities:

The financial statements of Liddell Enterprises Limited (registered number: 01111763) were approved and authorised for issue by the Board of Directors on 16 September 2024. They were signed on its behalf by:

Dr W G Liddell
Director
LIDDELL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
LIDDELL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Liddell Enterprises Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Westover Farmhouse, Goodworth Clatford, Andover, SP11 7LF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 April 2023 3,371,105 3,371,105
Additions 4,708 4,708
At 31 March 2024 3,375,813 3,375,813
Accumulated depreciation
At 01 April 2023 222,611 222,611
At 31 March 2024 222,611 222,611
Net book value
At 31 March 2024 3,153,202 3,153,202
At 31 March 2023 3,148,494 3,148,494

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 724 724
At 31 March 2024 724 724
Carrying value at 31 March 2024 724 724
Carrying value at 31 March 2023 724 724

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 932,367 851,403
Other debtors 25,000 25,000
957,367 876,403

6. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 66,658 55,871
Other creditors 0 1
66,658 55,872

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
128 Ordinary shares of £ 1.00 each 128 128
200 Preferred preference shares of £ 1.00 each 200 200
328 328

The Following rights attach to the preferred ordinary £1 shares: They have the right in priority to any other share capital of the company to receive dividends not exceeding in aggregate the sum of £345,000

On return of capital, whether upon liquidation or otherwise, the holders of these shares shall have the right in priority to any other shares in the company:

i) to the repayment of capital paid up; and
ii) to the payment of the sum of £2,300,000 to be distributed rateably according to amounts paid up immediately prior to any repayment of capital;

Each share is entitled to one vote on a poll at any general meeting of the company.

8. Related party transaction

Summary of transactions with other related parties

Westover Farm Partnership
(Partnership)
On 1 April 2007 the company entered into partnership with Dr W G Liddell and Dr M H MacDougall, trading as Westover Farm Partnership. All commercial activities previously carried on by the company are now conducted through this partnership. The company's share of the Westover Farm Partnership profit for the year ended 31 March 2024 was £237,643. As at 31 March 2024 the company's current capital investment in the partnership was £932,366 which is represented in debtors and its fixed land capital investment, on an historical cost basis, was £3,148,494. At the balance sheet date the amount due from Westover Farm Partnership was £932,366 (2023: £851,403).