2023-05-012024-04-302024-04-30false13318274LANDY DEVELOPMENTS 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LANDY DEVELOPMENTS LTD

Registered Number
13318274
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

LANDY DEVELOPMENTS LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

LEES, Andy
LEES, Louise

Registered Address

Crown Farm Crown Road
Kelvedon Hatch
Brentwood
CM14 5TB

Registered Number

13318274 (England and Wales)
LANDY DEVELOPMENTS LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4249,721140,446
249,721140,446
Current assets
Cash at bank and on hand100100
100100
Net current assets (liabilities)100100
Total assets less current liabilities249,821140,546
Creditors amounts falling due after one year7(140,614)(140,614)
Provisions for liabilities8(27,318)-
Net assets81,889(68)
Capital and reserves
Called up share capital11
Revaluation reserve81,957-
Profit and loss account(69)(69)
Shareholders' funds981,889(68)
The financial statements were approved and authorised for issue by the Board of Directors on 3 September 2024, and are signed on its behalf by:
LEES, Andy
Director
Registered Company No. 13318274
LANDY DEVELOPMENTS LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year22
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 May 23140,446140,446
Revaluations109,275109,275
At 30 April 24249,721249,721
Net book value
At 30 April 24249,721249,721
At 30 April 23140,446140,446
5.Revaluation of property, plant and equipment

2024

2023

££
Land and buildings249,721-
6.Debtors: amounts due within one year
7.Creditors: amounts due after one year

2024

2023

££
Other creditors140,614140,614
Total140,614140,614
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)27,318-
Total27,318-
9.Fair value reserve
The fair value reserve is considered to be a non-distributable reserve. The fair value reserve consists of the revaluation of land held by the company. The revaluation above reflects the gain on revaluation less deferred taxation.

£
Transferred in period187,291
At 30 April 24187,291