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Company No: 00858447 (England and Wales)

LOUDHAM ESTATES (SUFFOLK) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

LOUDHAM ESTATES (SUFFOLK) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

LOUDHAM ESTATES (SUFFOLK) LIMITED

BALANCE SHEET

As at 31 March 2024
LOUDHAM ESTATES (SUFFOLK) LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,236,293 2,161,382
2,236,293 2,161,382
Current assets
Stocks 210,216 248,491
Debtors 4 89,845 137,063
Investments 7 1,523,678 1,430,476
Cash at bank and in hand 694,816 742,915
2,518,555 2,558,945
Creditors: amounts falling due within one year 5 ( 302,730) ( 189,080)
Net current assets 2,215,825 2,369,865
Total assets less current liabilities 4,452,118 4,531,247
Creditors: amounts falling due after more than one year 6 ( 166,637) ( 234,140)
Provision for liabilities ( 166,297) ( 193,800)
Net assets 4,119,184 4,103,307
Capital and reserves
Called-up share capital 204,800 204,800
Share premium account 1,200 1,200
Profit and loss account 3,913,184 3,897,307
Total shareholder's funds 4,119,184 4,103,307

Included within the profit and loss account reserves is £804,921 (2023: £282,314) of non-distributable reserves.

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

Director's responsibilities:

The financial statements of Loudham Estates (Suffolk) Limited (registered number: 00858447) were approved and authorised for issue by the Director on 25 September 2024. They were signed on its behalf by:

T.J. Pare
Director
LOUDHAM ESTATES (SUFFOLK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
LOUDHAM ESTATES (SUFFOLK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Loudham Estates (Suffolk) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is:
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
SP3 4UF

The principal place of business is:
Foxcote Farm
Foscot
Chipping Norton
Oxfordshire
OX7 6RH

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 15 - 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 10 % reducing balance
Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss account. No element of profit is included in the valuation of stock.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 April 2023 1,391,983 1,537,569 124,774 40,049 3,094,375
Additions 0 337,364 0 0 337,364
Disposals 0 ( 99,800) 0 0 ( 99,800)
At 31 March 2024 1,391,983 1,775,133 124,774 40,049 3,331,939
Accumulated depreciation
At 01 April 2023 27,928 826,567 47,821 30,677 932,993
Charge for the financial year 671 194,859 19,238 1,037 215,805
Disposals 0 ( 53,152) 0 0 ( 53,152)
At 31 March 2024 28,599 968,274 67,059 31,714 1,095,646
Net book value
At 31 March 2024 1,363,384 806,859 57,715 8,335 2,236,293
At 31 March 2023 1,364,055 711,002 76,953 9,372 2,161,382

Included within the net book value of land and buildings above is £1,363,384 (2023 - £1,364,055) in respect of freehold land and buildings.

4. Debtors

2024 2023
£ £
Trade debtors 38,620 68,916
Prepayments 51,225 65,133
VAT recoverable 0 3,014
89,845 137,063

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 157,043 0
Trade creditors 20,161 56,186
Other taxation and social security 4,232 2,064
Obligations under finance leases and hire purchase contracts 85,338 103,183
Other creditors 35,956 27,647
302,730 189,080

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 166,637 234,140

Finance lease liabilities of £166,637 (2023: £234,140) are secured against the assets to which they relate.

7. Current asset investments

Cost or valuation

2024
£
At 1 April 2023 1,430,476
Additions 58,850
Disposals (84,688)
Fair value adjustments 119,040
1,523,678

Investments with a net book value of £1,050,031 (2023: £1,075,206) are listed on a recognised stock exchange. The market value of the investments of £1,523,678 has been obtained from the portfolio valuation as at 31 March 2024.