Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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2,236,293 | 2,161,382 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Investments | 7 |
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Cash at bank and in hand |
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2,518,555 | 2,558,945 | |||
Creditors: amounts falling due within one year | 5 | (
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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 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Share premium account |
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Profit and loss account |
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Total shareholder's funds |
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Included within the profit and loss account reserves is £804,921 (2023: £282,314) of non-distributable reserves.
Director's responsibilities:
The financial statements of Loudham Estates (Suffolk) Limited (registered number:
T.J. Pare
Director |
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.
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 £.
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.
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.
Land and buildings | not depreciated |
Plant and machinery | 15 -
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Vehicles |
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Fixtures and fittings |
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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.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Land and buildings | Plant and machinery | Vehicles | Fixtures and fittings | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 April 2023 |
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Additions |
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Disposals |
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At 31 March 2024 |
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Accumulated depreciation | |||||||||
At 01 April 2023 |
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Charge for the financial year |
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Disposals |
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At 31 March 2024 |
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Net book value | |||||||||
At 31 March 2024 |
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At 31 March 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Prepayments |
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VAT recoverable |
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2024 | 2023 | ||
£ | £ | ||
Bank overdrafts |
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Trade creditors |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Obligations under finance leases and hire purchase contracts |
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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.