IRIS Accounts Production v24.3.0.553 10167615 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh101676152023-03-31101676152024-03-31101676152023-04-012024-03-31101676152022-03-31101676152022-04-012023-03-31101676152023-03-3110167615ns15:EnglandWales2023-04-012024-03-3110167615ns14:PoundSterling2023-04-012024-03-3110167615ns10:Director12023-04-012024-03-3110167615ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3110167615ns10:SmallEntities2023-04-012024-03-3110167615ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3110167615ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3110167615ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110167615ns10:FullAccounts2023-04-012024-03-3110167615ns10:Director22023-04-012024-03-3110167615ns10:Director42023-04-012024-03-3110167615ns10:RegisteredOffice2023-04-012024-03-3110167615ns5:CurrentFinancialInstruments2024-03-3110167615ns5:CurrentFinancialInstruments2023-03-3110167615ns5:ShareCapital2024-03-3110167615ns5:ShareCapital2023-03-3110167615ns5:SharePremium2024-03-3110167615ns5:SharePremium2023-03-3110167615ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-3110167615ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3110167615ns5:RetainedEarningsAccumulatedLosses2024-03-3110167615ns5:RetainedEarningsAccumulatedLosses2023-03-3110167615ns5:PlantMachinery2023-04-012024-03-3110167615ns5:PlantMachinery2024-03-3110167615ns5:AdditionsToInvestments2024-03-3110167615ns5:CostValuation2024-03-3110167615ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3110167615ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3110167615ns5:WithinOneYear2024-03-3110167615ns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 10167615 (England and Wales)









Financial Statements

for the Year Ended 31 March 2024

for

Land First Investments Limited

Land First Investments Limited (Registered number: 10167615)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Land First Investments Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A K Bhatia
R Ragoowansi
AFCAP SA





REGISTERED OFFICE: 3rd Floor, Portman House
2 Portman Street
London
W1H 6DU





REGISTERED NUMBER: 10167615 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Land First Investments Limited (Registered number: 10167615)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 598 -
Investments 6 425 -
Investment property 7 6,868,180 3,230,432
6,869,203 3,230,432

CURRENT ASSETS
Debtors 8 362,256 4,474
Cash at bank 296,212 855,983
658,468 860,457
CREDITORS
Amounts falling due within one year 9 (1,167,786 ) (1,352,751 )
NET CURRENT LIABILITIES (509,318 ) (492,294 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,359,885

2,738,138

PROVISIONS FOR LIABILITIES (1,181,107 ) (275,070 )
NET ASSETS 5,178,778 2,463,068

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 1,499,975 1,499,975
Other reserves 3,543,320 825,210
Retained earnings 135,383 137,783
SHAREHOLDERS' FUNDS 5,178,778 2,463,068

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

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

The directors acknowledge their 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:



A K Bhatia - Director


Land First Investments Limited (Registered number: 10167615)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Land First Investments Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts receivable on the sale of trading property, net of value added tax. The sale of property is recognised on the date of legal completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Land First Investments Limited (Registered number: 10167615)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 6 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 797
At 31 March 2024 797
DEPRECIATION
Charge for year 199
At 31 March 2024 199
NET BOOK VALUE
At 31 March 2024 598

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
Additions 425
At 31 March 2024 425
NET BOOK VALUE
At 31 March 2024 425

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,230,432
Additions 13,601
Revaluations 3,624,147
At 31 March 2024 6,868,180
NET BOOK VALUE
At 31 March 2024 6,868,180
At 31 March 2023 3,230,432

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 1,100,280
Valuation in 2024 3,624,147
Cost 2,143,753
6,868,180

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 March 2024 by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Land First Investments Limited (Registered number: 10167615)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 257,351 -
Amounts owed by associates 98,372 -
Other debtors 6,533 4,474
362,256 4,474

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 3,272
Taxation and social security - 9,107
Other creditors 1,167,786 1,340,372
1,167,786 1,352,751

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 26,400

11. RELATED PARTY DISCLOSURES

Included within amounts owed by group undertakings at the year end is an amount of £254,145 (2023: £nil) due from the ultimate parent company, Capricorn Group UK Ltd. This relates to a £250,000 loan which has been provided unsecured and is repayable on demand. Interest charged during the year amounted to £4,145 (2023: £nil).

Included within amounts owed by group undertakings at the year end is an amount of £3,206 (2023: £nil) due from a group company for expenses paid on their behalf.

Included within amounts owned by associates at the year end is an amount of £98,372 (2023: £nil) due from Sire Ventures 1 Ltd on which interest of £1,594 (2023: £nil) has been charged at a rate of 9%.

Included within other debtors at year end is an amount of £2,290 (2023: £nil) due from Trafalgar Properties LLC, a company in which A K Bhatia is a director and K Bhatia is the sole shareholder. K Bhatia is the father of A K Bhatia.

Included within other creditors at the year end is an amount of £1,005,688 (2023: £1,142,871) due to K Bhatia.

12. PARENT COMPANY

The immediate and ultimate parent company is Capricorn Group UK Ltd. The company's registered office is 28 Church Road, Stanmore, Middlesex HA7 4XR.