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REGISTERED NUMBER: 10830507 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

LANDSTAR GROUP LTD

LANDSTAR GROUP LTD (REGISTERED NUMBER: 10830507)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LANDSTAR GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: P J H Walters





REGISTERED OFFICE: Office 9
64-66 Wingate Square
Clapham
London
SW4 0AF





REGISTERED NUMBER: 10830507 (England and Wales)





ACCOUNTANTS: William Evans & Partners
20 Harcourt Street
London
W1H 4HG

LANDSTAR GROUP LTD (REGISTERED NUMBER: 10830507)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 150 -

CURRENT ASSETS
Debtors 5 5,960,717 6,686,091
Cash at bank and in hand 2,824,560 381,800
8,785,277 7,067,891
CREDITORS
Amounts falling due within one year 6 (40,155 ) (298,525 )
NET CURRENT ASSETS 8,745,122 6,769,366
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,745,272

6,769,366

CAPITAL AND RESERVES
Called up share capital 7 101 101
Retained earnings 8,745,171 6,769,265
SHAREHOLDERS' FUNDS 8,745,272 6,769,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 October 2024 and were signed by:





P J H Walters - Director


LANDSTAR GROUP LTD (REGISTERED NUMBER: 10830507)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Landstar Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 150
At 31 May 2024 150
NET BOOK VALUE
At 31 May 2024 150

LANDSTAR GROUP LTD (REGISTERED NUMBER: 10830507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,960,717 6,686,091

Included in other debtors is £281,324.14 (2023 - £281,324.14) corporation tax paid on the loan to the director. This tax is recoverable on repayment of the directors loan.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 38,555 296,925
Other creditors 1,600 1,600
40,155 298,525

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
101 Ordinary 1 101 101

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
P J H Walters
Balance outstanding at start of year 833,553 -
Amounts advanced 358,755 883,553
Amounts repaid (340,150 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 852,158 833,553

The amount advanced of £358,755 includes an interest charge of £18,755.

The Director Mr PJH Walters repaid this sum of £852,158 after the year end date.

LANDSTAR GROUP LTD (REGISTERED NUMBER: 10830507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. RELATED PARTY DISCLOSURES

Other debtors include loans and advances as follows:

(i) During the year the company made advances to 119C Ltd in the amount of £50,000. The balance outstanding at 31 May 2024 amounted to £1,165,250. (31 May 2023 - £1,115,250). This loan is unsecured, repayable on demand and interest free.

(ii) During the year, the company made no advances to 119 Ltd. The balance outstanding at 31 May 2024 amounted to £1,217,037 (31 May 2023: outstanding balance £1,217,037). This loan is unsecured, repayable on demand and interest free. Mr P.J.H. Walters is a director of 119 Ltd.

(iii) During the year the company received repayments from 219 Ltd, a company controlled by Mr and Mrs P.J.H. Walters in the amount of £705,000. The balance outstanding as at 31 May 2024 amounted to £386,943 (31 May 2022: Outstanding balance £1,091,943). This loan is unsecured, repayable on demand and interest free. This loan was repaid in full after the year end date.

(iv) During the year the company received net repayment from PMG Walters Ltd of £190,000. The balance outstanding as at 31 May 2024 amounted to £2,058,003. (31 May 2023 - £2,146,983). This loan is unsecured, repayable on demand and interest is being charged at 5% per annum. Landstar Group owns 50% of the share capital of PMG Walters Ltd.

10. ULTIMATE CONTROLLING PARTY

The controlling party is P J H Walters.

Mr PJH Walters is the controlling shareholder of Landstar Group Ltd.