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REGISTERED NUMBER: 00022672 (England and Wales)


















THE LLANDUDNO BUILDING & WORKMEN'S
DWELLINGS COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






THE LLANDUDNO BUILDING & WORKMEN'S
DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THE LLANDUDNO BUILDING & WORKMEN'S
DWELLINGS COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: N J L Roberts Esq
R P Taylor Esq
B S L Taylor Esq
F A D L Roberts Esq





SECRETARY: G S Hawley Esq





REGISTERED OFFICE: First Floor Suite
23 Trinity Square
LLANDUDNO
North Wales
LL30 2RH





REGISTERED NUMBER: 00022672 (England and Wales)





ACCOUNTANTS: Hawley and Company
Chartered Accountants & Chartered Tax Advisers
First Floor Suite
23 Trinity Square
LLANDUDNO
North Wales
LL30 2RH

THE LLANDUDNO BUILDING & WORKMEN'S
DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,142,500 2,105,000
Investments 5 178,584 162,798
2,321,084 2,267,798

CURRENT ASSETS
Debtors 6 4,891 3,109
Cash at bank and in hand 108,713 91,909
113,604 95,018
CREDITORS
Amounts falling due within one year 7 37,613 36,017
NET CURRENT ASSETS 75,991 59,001
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,397,075

2,326,799

CREDITORS
Amounts falling due after more than one year 8 (16,353 ) (19,093 )

PROVISIONS FOR LIABILITIES 9 (269,422 ) (259,298 )
NET ASSETS 2,111,300 2,048,408

CAPITAL AND RESERVES
Called up share capital 10 18,360 18,360
Retained earnings 2,092,940 2,030,048
SHAREHOLDERS' FUNDS 2,111,300 2,048,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

THE LLANDUDNO BUILDING & WORKMEN'S
DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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 Board of Directors and authorised for issue on 15 February 2024 and were signed on its behalf by:




N J L Roberts Esq - Director



R P Taylor Esq - Director


THE LLANDUDNO BUILDING & WORKMEN'S
DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

The Llandudno Building & Workmen's Dwellings Company 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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, where the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the company. Turnover comprises rents receivable and investment income. The company is not required to be registered for VAT.

Tangible fixed assets
In accordance with FRS 102, investment properties are revalued annually and the aggregate surplus or deficit is transferred to the statement of comprehensive income as a fair value adjustment. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because these properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view, and that it is necessary to adopt FRS 102 in order to give a true and fair view.

If this departure from the Act had not been made, the profit for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Deferred tax is accounted for on revaluation surpluses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, 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 that have been enacted or substantively enacted by the statement of financial position date.


THE LLANDUDNO BUILDING & WORKMEN'S
DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Fixed asset investments
Fixed asset investments comprise UK quoted securities which are revalued annually under the alternative accounting rules for investments, as set out in Statutory Instrument 2008 No 409. These investments are valued at their mid-market price as determined by the London Stock Exchange.

The surplus or deficit on revaluation is transferred to the statement of comprehensive income as a fair value adjustment.

Deferred tax is accounted for on revaluation surpluses.

Dividends
In accordance with the provisions of FRS 102, no account is taken for dividends relating to the year, where these are declared after the balance sheet date.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 January 2023 2,105,000
Revaluations 37,500
At 31 December 2023 2,142,500
NET BOOK VALUE
At 31 December 2023 2,142,500
At 31 December 2022 2,105,000

THE LLANDUDNO BUILDING & WORKMEN'S
DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

If land and buildings had not been revalued they would have been included at the following historical cost:

20232022
££

Cost803,256803,256

Land and buildings were valued on an open market basis on 31 December 2023 by Geoffrey Butterworth Chartered Surveyors.


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 162,798
Revaluations 15,786
At 31 December 2023 178,584
NET BOOK VALUE
At 31 December 2023 178,584
At 31 December 2022 162,798


If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£ £

Cost 99,818 99,818


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,830 329
Prepayments 3,061 2,780
4,891 3,109

THE LLANDUDNO BUILDING & WORKMEN'S
DWELLINGS COMPANY LIMITED (REGISTERED NUMBER: 00022672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,920 2,920
Tax 7,234 6,786
Other creditors 27,459 26,311
37,613 36,017

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loan 16,353 19,093

Bank loans outstanding at the year end include instalments due after more than five years of £4,500 (2022: £7,200).

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax on revaluations 269,422 259,298

Deferred
tax
£   
Balance at 1 January 2023 259,298
Provided during year 10,124
Balance at 31 December 2023 269,422

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,672 Ordinary £5 18,360 18,360