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Registered number: 02893559









LAGENTIUM ESTATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LAGENTIUM ESTATES LIMITED
REGISTERED NUMBER: 02893559

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
3,100,000
1,700,000

  
3,100,000
1,700,000

Current assets
  

Debtors: amounts falling due within one year
 5 
32,550
-

Cash at bank and in hand
 6 
11,850
147,347

  
44,400
147,347

Creditors: amounts falling due within one year
 7 
(1,507,439)
(239,747)

Net current liabilities
  
 
 
(1,463,039)
 
 
(92,400)

Total assets less current liabilities
  
1,636,961
1,607,600

  

Net assets
  
1,636,961
1,607,600


Capital and reserves
  

Called up share capital 
  
42
42

Fair value reserve
  
134,224
456,155

Capital redemption reserve
  
58
58

Profit and loss account
  
1,502,637
1,151,345

  
1,636,961
1,607,600


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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.

Page 1

 
LAGENTIUM ESTATES LIMITED
REGISTERED NUMBER: 02893559
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr G W Tindley
Director
Date: 13 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LAGENTIUM ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Lagentium Estates Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is C/O Hillier Hopkins LLP, 249 Silbury Boulevard, Milton Keynes, Bucks, MK9 1NA.
The Company's principal activity is that of property management.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
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:

 
2.3

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
LAGENTIUM ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

  
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 4

 
LAGENTIUM ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,700,000


Additions at cost
1,521,931


Surplus on revaluation
(121,931)



At 31 March 2024
3,100,000

The 2024 valuations were made by the directors and shareholders of the Company, on an open market value for existing use basis.





5.


Debtors

2024
2023
£
£


Trade debtors
32,550
-



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
11,850
147,347

Less: bank overdrafts
(38,094)
-

(26,244)
147,347


Page 5

 
LAGENTIUM ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
38,094
-

Payments received on account
55,938
28,813

Trade creditors
-
1,654

Corporation tax
49,374
15,126

Other taxation and social security
10,989
5,249

Other creditors
1,349,894
185,905

Accruals and deferred income
3,150
3,000

1,507,439
239,747


 
Page 6