REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 March 2024 |
for |
Land Agents Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 March 2024 |
for |
Land Agents Limited |
Land Agents Limited (Registered number: 07527801) |
Contents of the Financial Statements |
for the Year Ended 30 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Land Agents Limited |
Company Information |
for the Year Ended 30 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 5 Corum 2 |
Corum Office Park |
Crown Way |
Warmley |
Bristol |
BS30 8FJ |
Land Agents Limited (Registered number: 07527801) |
Balance Sheet |
30 March 2024 |
30.3.24 | 30.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
Land Agents Limited (Registered number: 07527801) |
Balance Sheet - continued |
30 March 2024 |
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 were approved by the director and authorised for issue on |
Land Agents Limited (Registered number: 07527801) |
Notes to the Financial Statements |
for the Year Ended 30 March 2024 |
1. | STATUTORY INFORMATION |
Land Agents Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There have been no material departures from the Financial Reporting Standard 102 1A. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - 25% on cost |
Fixtures and fittings | - 25% on 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. |
Land Agents Limited (Registered number: 07527801) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Borrowings |
Interest-bearing borrowings are initially recorded at fair value, net of transactions costs. |
Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. |
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. |
Going concern |
The financial statements have been prepared on a going concern basis following confirmation that the director will continue to financially support the company in order to maintain its operations as necessary for the foreseeable future and at least 12 months from the date of signing the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Land Agents Limited (Registered number: 07527801) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 31 March 2023 |
and 30 March 2024 |
AMORTISATION |
At 31 March 2023 |
and 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 31 March 2023 |
and 30 March 2024 |
DEPRECIATION |
At 31 March 2023 |
Charge for year |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.3.24 | 30.3.23 |
£ | £ |
Other debtors |
Land Agents Limited (Registered number: 07527801) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.3.24 | 30.3.23 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.3.24 | 30.3.23 |
£ | £ |
Bank loans |
Included in bank loans is a balance of £52,531 (2023 - £51,250) which is guaranteed by the government and unsecured. |
9. | RELATED PARTY DISCLOSURES |
Loans from related parties |
Key management |
Total |
2024 | £ | £ |
At start of period | 10,330 | 10,330 |
Advanced | 1,049 | 1,049 |
Repaid | (8,512 | ) | (8,512 | ) |
At end of period | 2,867 | 2,867 |
Key management |
Total |
2023 | £ | £ |
At start of period | - | - |
Advanced | 10,473 | 10,473 |
Repaid | (143 | ) | (143 | ) |
At end of period | 10,330 | 10,330 |
Loans from key management are interest free and repayable on demand. |
Land Agents Limited (Registered number: 07527801) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2024 |
9. | RELATED PARTY DISCLOSURES - continued |
Loans to related parties |
Key management |
Total |
2024 | £ | £ |
At start of period | - | - |
Advanced | - | - |
Repaid | - | - |
At end of period | - | - |
Key management |
Total |
2023 | £ | £ |
At start of period | 16,346 | 16,346 |
Advanced | - | - |
Repaid | (16,346 | ) | (16,346 | ) |
At end of period | - | - |
Loans to key management are repayable on demand and interest is charged on loan balances owing to the company that exceed £10,000. Interest is charged at the HMRC prevailing rate. |