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Registered number: 12206046









LANDA DIGITAL PRINTING UK LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LANDA DIGITAL PRINTING UK LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 6


 
LANDA DIGITAL PRINTING UK LIMITED
REGISTERED NUMBER: 12206046

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
91,474
45,825

Cash at bank and in hand
 6 
26,292
38,631

  
117,766
84,456

Creditors: amounts falling due within one year
 7 
(78,522)
(60,215)

Net current assets
  
 
 
39,244
 
 
24,241

Total assets less current liabilities
  
39,244
24,241

  

Net assets
  
39,244
24,241


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
39,144
24,141

  
39,244
24,241


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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2024.




E Edri
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
LANDA DIGITAL PRINTING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Landa Digital Printing UK Limited is a private company limited by shares registered in England & Wales, registration number 12206046. The registered office is 3rd floor, Waverley House, 7-12 Noel Street, London, United Kingdom, W1F 8GQ.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis as the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. 

The parent company, Landa Corporation Ltd has confirmed that there is no intention to change the operations of the business. The company is expected to have sufficient resources to meet its financial obligations for at least twelve months from the date these financial statements are approved. Therefore, the directors consider that it is appropriate for the financial statements to be prepared on a going concern basis.

Page 2

 
LANDA DIGITAL PRINTING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

All revenue in the year is related to providing support services for group companies. The revenue reflects a 3.4% mark-up on the cost that the Company incurs in providing those support service.

Page 3

 
LANDA DIGITAL PRINTING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
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

Holiday pay accrual

Previously liability was recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date. 

  
2.8

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.


Judgements in applying accounting policies and key sources of estimation uncertainty

Management have not applied any significant judgements or estimates in the preparation of these financial statements.


4.


Employees

The average monthly number of employees, excluding the Directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
7
5

Page 4

 
LANDA DIGITAL PRINTING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
65,385
22,970

Other debtors
18,240
19,792

Prepayments and accrued income
7,849
3,063

91,474
45,825


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
26,292
38,631



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
994
-

Corporation tax
6,266
2,485

Other creditors
21,742
27,306

Accruals and deferred income
49,520
30,424

78,522
60,215



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100

The shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.


Page 5

 
LANDA DIGITAL PRINTING UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £14,223 (2022 - £14,192). Contributions totalling £Nil (2022 - £1,456) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

The Company has taken the exemption under FRS 102, Section 33 Related Party Disclosures paragraph 33.1A, whereby the Company is not required to disclose transactions with other companies that are wholly owned within the group.


11.


Controlling party

The immediate parent undertaking is Landa Corporation Limited, a private company incorporated in Israel, which is the smallest group to consolidate these financial statements. The principal place of business is 13 Derech Gad Feinstein, Rehovot, 7638517, Israel.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 26 September 2024 by Sally Casson (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.

 
Page 6