Registered number
03575195
Landseer Management Limited
Filleted Accounts
31 December 2023
Landseer Management Limited
Registered number: 03575195
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,080,146 3,299,359
Current assets
Debtors 5 23,284 16,228
Cash at bank and in hand 6,793 21,267
30,077 37,495
Creditors: amounts falling due within one year 6 (134,041) (356,629)
Net current liabilities (103,964) (319,134)
Total assets less current liabilities 2,976,182 2,980,225
Creditors: amounts falling due after more than one year 7 (1,258,057) (1,011,053)
Provisions for liabilities (Notes 8) (237,382) (280,845)
Net assets 1,480,743 1,688,327
Capital and reserves
Called up share capital 2 2
Fair value reserve 8 1,011,998 1,197,285
Profit and loss account 468,743 491,040
Shareholder's funds 1,480,743 1,688,327
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Robert Andrew Stevenson
Director
Approved by the board on 7 October 2024
Landseer Management Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
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:
Plant and machinery 25% reducing balance
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 3,297,500 8,823 3,306,323
Additions 9,177 1,100 10,277
Fair value revaluation (228,750) - (228,750)
At 31 December 2023 3,077,927 9,923 3,087,850
Depreciation
At 1 January 2023 - 6,964 6,964
Charge for the year - 740 740
At 31 December 2023 - 7,704 7,704
Net book value
At 31 December 2023 3,077,927 2,219 3,080,146
At 31 December 2022 3,297,500 1,859 3,299,359
4 Taxation 2023 2022
£ £
Analysis of tax charge
The tax charge on profit for the year was as follows:
Current tax
UK Corporation tax Recoverable (394) 3,236
Deferred tax 43,463 -
Tax on Profit 43,857 3,236
5 Debtors 2023 2022
£ £
Trade debtors 5,684 1,894
Corporation tax recoverable 394 -
Other debtors 17,206 14,334
23,284 16,228
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,275 261,947
Trade creditors 20,428 9,623
Taxation and social security costs - 3,236
Directors loan account 70,984 47,390
Other creditors 37,354 34,433
134,041 356,629
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,258,057 1,011,053
8 Fair value reserve 2023 2022
The provision for liability of £237,382 relates to deferred corporation tax in relation to the fair value revaluation of investment property.
£ £
At 1 January 2023 1,197,285 1,197,285
Loss on revaluation of land and buildings (228,750) -
Deferred taxation arising on the revaluation of land and buildings 43,463 -
At 31 December 2023 1,011,998 1,197,285
9 Other information
Landseer Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bank Chambers
1-3 Woodford Avenue
Gants Hill, Ilford
Essex
IG2 6UF
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