LDK PROPERTIES LIMITED

Company Registration Number:
SC206757 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

LDK PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Additional notes
Balance sheet notes

LDK PROPERTIES LIMITED

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 47,698 2,183
Investments: 4 2,635,984 2,635,984
Total fixed assets: 2,683,682 2,638,167
Current assets
Debtors: 5 13,661 62,619
Cash at bank and in hand: 27,587 59,894
Total current assets: 41,248 122,513
Creditors: amounts falling due within one year: 6 ( 72,642 ) ( 51,575 )
Net current assets (liabilities): (31,394) 70,938
Total assets less current liabilities: 2,652,288 2,709,105
Creditors: amounts falling due after more than one year: 7 ( 1,029,434 ) ( 1,223,164 )
Total net assets (liabilities): 1,622,854 1,485,941
Capital and reserves
Called up share capital: 1 1
Other reserves: 396,383 396,383
Profit and loss account: 1,226,470 1,089,557
Total Shareholders' funds: 1,622,854 1,485,941

The notes form part of these financial statements

LDK PROPERTIES LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 17 September 2024
and signed on behalf of the board by:

Name: B Jackson
Status: Director

The notes form part of these financial statements

LDK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises rents receivable for the year and is recognised evenly throughout the year based on the agreed annual rent.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Fixtures, fittings and equipment 25% reducing balance Motor vehicles 25% reducing balance

    Other accounting policies

    Investment property Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit and loss. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

LDK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

LDK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 84,961 0 84,961
Additions 61,415 61,415
Disposals
Revaluations
Transfers
At 31 March 2024 84,961 61,415 146,376
Depreciation
At 1 April 2023 82,778 0 82,778
Charge for year 546 15,354 15,900
On disposals
Other adjustments
At 31 March 2024 83,324 15,354 98,678
Net book value
At 31 March 2024 1,637 46,061 47,698
At 31 March 2023 2,183 0 2,183

LDK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Fixed assets investments note

Investment Property Fair value At 1 April 2023 £2,635,984 At 31 March 2024 £2,635,984 The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

LDK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
£ £
Prepayments and accrued income 4,565 2,378
Other debtors 9,096 60,241
Total 13,661 62,619

LDK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 27,851 26,542
Accruals and deferred income 28,120 15,399
Other creditors 16,671 9,634
Total 72,642 51,575

LDK PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 1,029,434 1,223,164
Total 1,029,434 1,223,164